Should Progressive Be in Your Portfolio Post Q3 Earnings?

The Progressive Corporation (PGR) reported solid third-quarter 2024 results, wherein the top line and the bottom line beat the Zacks Consensus Estimate. Net premiums written improved 25%, driven by the strong performance of operating businesses. Combined ratio — the percentage of premiums paid out as claims and expenses — improved 340 basis points (bps) from the prior-year quarter's level to 89. PGR is one of the country's largest auto insurance groups, the largest seller of motorcycle and boat policies, th ...