Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

Fed Chief Jerome Powell testified before the House Financial Services Committee Wednesday morning, telling lawmakers that interest rate cuts are likely “at some point” this year. But Powell also reiterated the Fed’s cautious, data-dependent stance as the central bank assesses how the inflation picture evolves in the coming months.The committee “does not expect that it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably” downward to the F ...

Credit Ratings and Affirmations - AM Best affirmed the Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa" (Superior) for Progressive Corporation members [1] - AM Best affirmed the Long-Term ICR of "a" (Excellent) for Progressive Corporation and all Long-Term Issue Credit Ratings (Long-Term IR) of its senior unsecured issuances [1] - AM Best affirmed the FSR of A (Excellent) and Long-Term ICRs of "a+" (Excellent) for Protective Insurance Company and its subsidiaries [1] - AM Best affirmed the FSR of A (Excellent) and Long-Term ICR of "a+" (Excellent) for National Continental Insurance Company [1] - The outlook for all affirmed ratings is stable [1] Progressive Corporation's Performance and Strengths - Progressive's ratings reflect its strongest balance sheet strength, strong operating performance, very favorable business profile, and appropriate enterprise risk management (ERM) [1] - Progressive's risk-adjusted capitalization is considered strongest, benefiting from favorable underwriting results and reliable investment income [2] - Progressive reported $5.1 billion in comprehensive income in 2023, a significant improvement from a $2.1 billion loss in 2022, driven by stronger underwriting and investment incomes [3] - Progressive's property segment reported a sub-100 combined ratio in 2023, reflecting management's efforts to rebalance exposure accumulations [2] - Progressive maintains high underwriting leverage relative to industry averages but consistently produces favorable underwriting results with low volatility [3] Protective Insurance Corporation Group and National Continental Insurance Company - Protective's ratings reflect its very strong balance sheet strength, adequate operating performance, neutral business profile, and appropriate ERM [4] - National Continental's ratings reflect its very strong balance sheet strength, strong operating performance, limited business profile, and appropriate ERM [4] - Both groups benefit from strategic advantages and financial strength as affiliates or subsidiaries of Progressive [4] Detailed List of Affirmed Ratings - FSR of A+ (Superior) and Long-Term ICRs of "aa" (Superior) affirmed for Progressive Corporation members, including Progressive Casualty Insurance Company, Progressive Northern Insurance Company, and others [4][5] - FSR of A (Excellent) and Long-Term ICRs of "a+" (Excellent) affirmed for Protective Insurance Company and its subsidiaries, including Sagamore Insurance Company and Protective Specialty Insurance Company [5] - FSR of A (Excellent) and Long-Term ICR of "a+" (Excellent) affirmed for National Continental Insurance Company [5] - Long-Term ICRs of "a" (Excellent) and Long-Term IRs affirmed for Progressive Corporation's senior unsecured notes, including $500 million 2.45% notes due 2027 and $850 million 4.125% notes due 2047 [6][7] Industry Context - Progressive continues to outperform AM Best's private passenger standard auto composite despite inflation and supply chain issues in the automobile insurance industry [2] - Progressive leverages advanced underwriting and claims-handling technology, including usage-based technologies [2] - The company faced challenges from higher severity of private passenger auto physical damage claims and unfavorable loss reserve development in 2023 [3]

MAYFIELD VILLAGE, OHIO, March 04, 2024 (GLOBE NEWSWIRE) -- On March 1, 2024, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared a $0.10 per common share dividend, payable April 12, 2024, to shareholders of record at the close of business on April 4, 2024 (ex-dividend date of April 3, 2024). About ProgressiveProgressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us howe ...

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Progressive (PGR) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.Progressive is a member of our Finance group, which includes 857 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The aver ...

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 29:The Progressive Corporation (PGR) : This insurance holding company has seen the Zacks Consensus Estimate for its current year earnings increasing 7.5% over the last 60 days.The Progressive Corporation has a PEG ratio of 1.00 compared with 1.47 for the industry. The company possesses a Growth Score of B.Sylvamo Corporation (SLVM) : This paper manufacturing company carries a Zacks Rank #1, and h ...

The Progressive Corporation (NYSE:PGR) Q4 2023 Earnings Conference Call February 27, 2024 9:30 AM ET Company Participants Douglas Constantine - Director of Investor Relations Lori Niederst - Customer Relationship President Kathryn Lemieux - Business Leader, CRM Sales Experience Sean Freeman - Business Leader, Direct Progressive Agency Experience Team Tricia Griffith - President & Chief Executive Officer Pat Callahan - Personal Lines President John Sauerland - Chief Financial Officer Conference Call Particip ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________to__________ Commission file number 001-09518 THE PROGRESSIVE CORPORATION (Exact name of registrant as specified in its charter) Ohio 34-0963169 (State o ...

It has been about a month since the last earnings report for Progressive (PGR) . Shares have added about 7.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Progressive due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Progressive's Q4 Earnings and Revenues Beat Esti ...

Shares of The Progressive Corporation (PGR) have rallied 19.4% year to date, outperforming 13.8% and 4.3% growth of the industry and the Zacks S&P 500 composite, respectively. The Finance sector has decreased 0.4% in the same time frame. With a market capitalization of $111.4 billion, the average volume of shares traded in the last three months was 2.2 million.A compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and solid capital posi ...