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MarketScreener Homepage  >  Equities  >  Nyse  >  Progressive Corporation    PGR

PROGRESSIVE CORPORATION

(PGR)
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Progressive : Reports September 2020 Results

10/14/2020 | 08:16am EST

MAYFIELD VILLAGE, OHIO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for September 2020 and the third quarter of 2020: 

 September  Quarter  
(millions, except per share amounts and ratios; unaudited)

2020 2019 Change2020 2019 Change
          
Net premiums written$3,468.1  $3,024.3  15 % $11,015.1 $9,621.2  14 % 
Net premiums earned$3,103.2  $2,800.9  11 % $9,973.5 $9,012.2  11 % 
Net income attributable to Progressive$231.4  $280.9  (18) % $1,530.8 $841.7  82 % 
Per share available to common shareholders$0.39  $0.47  (18) % $2.59 $1.42  82 % 
Total pretax net realized gains (losses) on securities$(131.7) $50.1  (363) % $532.6 $65.4  NM   
Combined ratio 88.3   92.3  (4.0) pts. 87.8  91.9  (4.1) pts. 
Average diluted equivalent common shares 587.8   587.0  % 587.8  587.1  % 

NM=Not meaningful

 September
(thousands; unaudited)

2020 2019 Change
Policies in Force     
Personal Lines     
Agency – auto7,527.1 6,903.8 9%
Direct – auto8,774.3 7,716.0 14%
Total personal auto16,301.4 14,619.8 12%
Total special lines4,905.8 4,567.6 7%
Total Personal Lines21,207.2 19,187.4 11%
Total Commercial Lines803.9 748.7 7%
Property business2,421.0 2,144.3 13%
Companywide Total24,432.1 22,080.4 11%
      

See Progressive's complete monthly earnings release, including the "Monthly Commentary," for additional information.

About Progressive

The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers. 

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:
Douglas S. Constantine
(440) 910-3563
investor_relations@progressive.com

The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
http://www.progressive.com

Progressive September 2020 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/aba592ac-8bb1-4342-9954-ffb658a8fa60


Progressive Logo.jpg

Source: Progressive Corporation

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 41 094 M - -
Net income 2020 4 818 M - -
Net Debt 2020 - - -
P/E ratio 2020 10,6x
Yield 2020 3,10%
Capitalization 51 902 M 51 902 M -
Capi. / Sales 2020 1,26x
Capi. / Sales 2021 1,13x
Nbr of Employees 41 571
Free-Float 73,2%
Chart PROGRESSIVE CORPORATION
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Progressive Corporation Technical Analysis Chart | PGR | US7433151039 | MarketScreener
Technical analysis trends PROGRESSIVE CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 97,82 $
Last Close Price 88,63 $
Spread / Highest target 35,4%
Spread / Average Target 10,4%
Spread / Lowest Target -21,0%
EPS Revisions
Managers
NameTitle
Susan Patricia Griffith President, Chief Executive Officer & Director
Lawton Wehle Fitt Chairman
John P. Sauerland Chief Financial Officer & Vice President
Steven A. Broz Chief Information Officer
Charles Arthur Davis Independent Director
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