'Big Short'-Fame Investor Steve Eisman Says 'Good Time To Buy' This 'Pretty Inexpensive' Insurance Stock: 'You Will Make Money Over Time'

Core Viewpoint - Investor Steve Eisman believes Progressive Corp. is undervalued and represents a significant value investing opportunity at current levels [2][4]. Company Overview - Progressive Corp. is based in Ohio and has been owned by Eisman for several years [2]. - The company operates with a business model similar to Walmart and T-Mobile, allowing it to operate efficiently and offer cheaper products and services [2]. Market Position - Eisman notes that Progressive is capable of gradually increasing market share despite competitive pressures [3]. - The stock is currently trading at approximately 13.5 times the 2026 consensus earnings estimate, which Eisman considers inexpensive [4]. Financial Performance - Progressive reported $20.849 billion in revenue and earnings of $4.06 per share for the third quarter, missing consensus estimates [4]. - Following the earnings report, most analysts lowered their price targets, with the average consensus now at $263.07, indicating a potential upside of 15.93% from current levels [5]. Stock Performance - The stock has declined 5.71% year-to-date and trades at under 13 times earnings and 1.57 times sales [6]. - The relative strength index (RSI) is at 55.1, suggesting a neutral-to-bullish outlook [6]. - Shares of Progressive closed at $226.91, with a slight increase of 0.40% on the last trading day [7].