Progressive: No Longer A Premium On This Insurer

Core Viewpoint - Progressive (NYSE: PGR) was labeled a 'buy' at the end of September last year, and the company has shown strong operational performance since then, although valuations were noted to be somewhat stretched at that time [1]. Company Performance - Progressive has delivered operationally well since the 'buy' recommendation was made [1]. Valuation Concerns - The valuations of Progressive were considered somewhat stretched at the time of the initial recommendation [1].