The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States.
Solid track record, good value and pays a dividend.
Share Price & News
How has Progressive's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PGR has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: PGR underperformed the US Insurance industry which returned 17.5% over the past year.
Return vs Market: PGR underperformed the US Market which returned 20.3% over the past year.
Price Volatility Vs. Market
How volatile is Progressive's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall StIs The Progressive Corporation (NYSE:PGR) A High Quality Stock To Own?
2 weeks ago | Simply Wall StThe Progressive Corporation Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
3 weeks ago | Simply Wall StHere's How P/E Ratios Can Help Us Understand The Progressive Corporation (NYSE:PGR)
Is Progressive undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PGR ($81.42) is trading below our estimate of fair value ($130.74)
Significantly Below Fair Value: PGR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PGR is good value based on its PE Ratio (12.1x) compared to the Insurance industry average (13.8x).
PE vs Market: PGR is good value based on its PE Ratio (12.1x) compared to the US market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: PGR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: PGR is overvalued based on its PB Ratio (3.5x) compared to the US Insurance industry average (1.2x).
How is Progressive forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PGR's earnings are forecast to decline over the next 3 years (-4.9% per year).
Earnings vs Market: PGR's earnings are forecast to decline over the next 3 years (-4.9% per year).
High Growth Earnings: PGR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PGR's revenue (7.6% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: PGR's revenue (7.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PGR's Return on Equity is forecast to be low in 3 years time (18.5%).
How has Progressive performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PGR has a high level of non-cash earnings.
Growing Profit Margin: PGR's current net profit margins (10.1%) are higher than last year (8.1%).
Past Earnings Growth Analysis
Earnings Trend: PGR's earnings have grown significantly by 26.5% per year over the past 5 years.
Accelerating Growth: PGR's earnings growth over the past year (52%) exceeds its 5-year average (26.5% per year).
Earnings vs Industry: PGR earnings growth over the past year (52%) exceeded the Insurance industry 23.9%.
Return on Equity
High ROE: PGR's Return on Equity (28.6%) is considered high.
Return on Assets
Return on Capital Employed
How is Progressive's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: PGR has a low level of unsold assets or inventory.
Debt Coverage by Assets: PGR's debt is covered by short term assets (assets are 3x debt).
Financial Institutions Analysis
Asset Level: PGR's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if PGR has a sufficient allowance for bad loans.
Low Risk Liabilities: PGR reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if PGR has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PGR has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if PGR has an appropriate level of bad loans.
What is Progressive's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PGR's dividend (3.25%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: PGR's dividend (3.25%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
Stable Dividend: PGR's dividend payments have been volatile in the past 10 years.
Growing Dividend: PGR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (39.2%), PGR's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PGR's dividends in 3 years are forecast to be well covered by earnings (35.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Tricia Griffith (55yo)
Ms. Susan Patricia Griffith, also known as Tricia, has been the Chief Executive Officer and President of Progressive Corp. since July 1, 2016. Ms. Griffith serves as Director at Federal Express Corporation ...
CEO Compensation Analysis
Compensation vs Market: Tricia's total compensation ($USD14.17M) is above average for companies of similar size in the US market ($USD10.78M).
Compensation vs Earnings: Tricia's compensation has increased by more than 20% in the past year.
|VP & CFO||4.8yrs||US$7.13m||0.066% $31.5m|
|Chief Marketing Officer||9.3yrs||US$2.41m||0.016% $7.4m|
|President of Commercial Lines||4.8yrs||US$2.51m||0.012% $5.6m|
|Chief Investment Officer||0.08yrs||no data||0.0011% $542.6k|
|VP, Chief Accounting Officer & Assistant Secretary||1.1yrs||no data||0.0024% $1.1m|
|Chief Information Officer||4yrs||no data||0.0054% $2.6m|
|Investor Relations Contact||5.1yrs||no data||no data|
|VP, Chief Legal Officer & Secretary||2.9yrs||no data||0.0065% $3.1m|
|Chief Human Resource Officer||3.3yrs||no data||0.0039% $1.9m|
Experienced Management: PGR's management team is considered experienced (3.8 years average tenure).
|Independent Director||1.8yrs||US$260.01k||0.00080% $380.8k|
|Independent Director||15.3yrs||US$295.03k||0.0025% $1.2m|
|Independent Director||7.3yrs||US$270.05k||0.011% $5.3m|
|Independent Director||11.7yrs||US$300.01k||0.0020% $947.2k|
|Independent Director||23.8yrs||US$285.01k||0.055% $26.3m|
|Independent Director||10.2yrs||US$270.05k||0.0066% $3.1m|
|Independent Chairperson||1.8yrs||US$440.03k||0.0027% $1.3m|
|Independent Director||2.5yrs||US$275.06k||0.00065% $309.4k|
|Independent Director||5.3yrs||US$260.06k||0.0020% $956.7k|
Experienced Board: PGR's board of directors are considered experienced (6.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PGR insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
The Progressive Corporation's company bio, employee growth, exchange listings and data sources
- Name: The Progressive Corporation
- Ticker: PGR
- Exchange: NYSE
- Founded: 1937
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: US$47.598b
- Shares outstanding: 584.60m
- Website: https://www.progressive.com
Number of Employees
- The Progressive Corporation
- 300 North Commons Boulevard
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|PGR||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Oct 1972|
|PGV||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Oct 1972|
|PGR *||BMV (Bolsa Mexicana de Valores)||Yes||Common Shares||MX||MXN||Oct 1972|
|0KOC||LSE (London Stock Exchange)||Yes||Common Shares||GB||USD||Oct 1972|
|P1GR34||BOVESPA (Bolsa de Valores de Sao Paulo)||BDR EACH 2 REPR 1 SHS UNSPON||BR||BRL||Jan 2020|
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. This segment’s products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, and snowmobiles. The company’s Commercial Lines segment provides primary liability, physical damage, and other auto-related insurance for autos, vans, pick-up trucks, and dump trucks used by small businesses; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and non-fleet long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses; tow trucks and wreckers used in towing services and gas/service station businesses; and non-fleet taxis, black-car services, and airport taxis. Its Property segment provides residential property insurance for homes, condos, manufactured homes, and renters, as well as offers personal umbrella insurance, and primary and excess flood insurance. The company also offers policy issuance and claims adjusting services; home, condominium, renters, and other insurance; and general liability and business owner’s policies, and workers’ compensation insurance. In addition, it offers reinsurance services. The Progressive Corporation sells its products and services through independent insurance agencies, as well as directly on Internet, and mobile devices, and over the phone. The company was founded in 1937 and is headquartered in Mayfield, Ohio.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/20 00:53|
|End of Day Share Price||2020/02/19 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.