PGR Stock Recent News
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Most investors dismiss insurance stocks as the boring niche in the finance sector without realizing that this industry could significantly outperform all others during an economy ridden by threats of prolonged higher inflation. Today's environment is ripe for insurance businesses to rally further into the year, if not continue their bullish momentum into 2025.
Progressive is a robust insurance company that has been on an absolute tear in the last few years, which led to a large valuation bubble. The bubble didn't pop. Instead, PGR has changed their trends around and have now justified their price by raising earnings and free cash flow. Progressive is now pivoting out of short-term investments, into long-term investments, which may be an impeccably timed move alongside the Fed decision to lower rates.
Progressive (PGR) came out with quarterly earnings of $3.58 per share, beating the Zacks Consensus Estimate of $3.40 per share. This compares to earnings of $2.09 per share a year ago.
MAYFIELD VILLAGE, OHIO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended September 30, 2024 and the third quarter of 2024:
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As Hurricane Milton gathers strength in the Gulf of Mexico, the prospect of significant damage to Florida's Gulf Coast is weighing heavily on insurance companies. The hurricane, now a Category 4 storm, is expected to strike the Tampa Bay area later this week, causing fears of tens of billions of dollars in insured losses and sending insurance stocks plummeting.
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In the latest trading session, Progressive (PGR) closed at $252.27, marking a -0.85% move from the previous day.
Recently, Zacks.com users have been paying close attention to Progressive (PGR). This makes it worthwhile to examine what the stock has in store.
Progressive (PGR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.