Is Progressive (PGR) Still Worth Buying Post Q2 Earnings?

The Progressive Corporation (PGR) reported strong second-quarter 2024 results, wherein the top line and the bottom line beat the Zacks Consensus Estimate. Net premiums written increased 22%, driven by the strong performance of operating businesses. Combined ratio — the percentage of premiums paid out as claims and expenses — improved 850 basis points (bps) from the prior-year quarter’s level to 91.9.PGR is one of the country’s largest auto insurance groups, the largest seller of motorcycle and boat policies ...