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THE PROGRESSIVE CORPORATION

(PGR)
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Progressive : Reports September 2021 Results

10/14/2021 | 08:15am EST

MAYFIELD VILLAGE, OHIO, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for September 2021 and the third quarter of 2021:

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

2021
 2020
 Change2021 2020 Change
                
Net premiums written$4,004.0  $3,468.1  15 %$12,446.5 $11,015.1 13 %
Net premiums earned$3,537.5  $3,103.2  14 %$11,364.8 $9,973.5 14 %
Net income (loss)$(130.3) $231.4  (156)%$118.5 $1,530.8 (92)%
Per share available to common shareholders$(0.23) $0.39  (158)%$0.19 $2.59 (93)%
Total pretax net realized gains (losses) on securities$(217.4) $(131.7) 65 %$36.8 $532.6 (93)%
Combined ratio100.1   88.3  11.8 pts.100.4
 87.8 12.6 pts.
Average equivalent common shares584.7   587.8  (1)%587.1 587.8 0 %


 September
(thousands; unaudited)

2021 2020 Change
Policies in Force     
Personal Lines     
Agency – auto7,973.6 7,527.1 6 %
Direct – auto9,613.1 8,774.3 10 %
Total personal auto17,586.7 16,301.4 8 %
Total special lines5,282.4 4,905.8 8 %
Total Personal Lines22,869.1 21,207.2 8 %
Total Commercial Lines952.7 803.9 19 %
Total Property business2,735.0 2,421.0 13 %
Companywide Total26,556.8 24,432.1 9 %
      

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 2021 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/3ef489bd-2477-46aa-8aa0-fa13cfae985f


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Analyst Recommendations on THE PROGRESSIVE CORPORATION
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Financials (USD)
Sales 2021 46 458 M - -
Net income 2021 3 074 M - -
Net Debt 2021 - - -
P/E ratio 2021 18,4x
Yield 2021 3,93%
Capitalization 56 161 M 56 161 M -
Capi. / Sales 2021 1,21x
Capi. / Sales 2022 1,10x
Nbr of Employees 43 326
Free-Float 73,1%
Chart THE PROGRESSIVE CORPORATION
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The Progressive Corporation Technical Analysis Chart | PGR | US7433151039 | MarketScreener
Technical analysis trends THE PROGRESSIVE CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 96,00 $
Average target price 95,00 $
Spread / Average Target -1,04%
EPS Revisions
Managers and Directors
Susan Patricia Griffith President, Chief Executive Officer & Director
John P. Sauerland Chief Financial Officer & Vice President
Lawton Wehle Fitt Chairman
Steven A. Broz Chief Information Officer
Jonathan Bauer Chief Investment Officer
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