The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$92.61|
|52 Week High||US$84.89|
|52 Week Low||US$107.59|
|1 Month Change||-5.08%|
|3 Month Change||-2.10%|
|1 Year Change||-4.39%|
|3 Year Change||30.95%|
|5 Year Change||197.30%|
|Change since IPO||8,559.64%|
Recent News & Updates
Progressive (NYSE:PGR) Has Affirmed Its Dividend Of US$0.10
The Progressive Corporation's ( NYSE:PGR ) investors are due to receive a payment of US$0.10 per share on 15th of...
Progressive (NYSE:PGR) Has Re-Affirmed Its Dividend Of US$0.10
The board of The Progressive Corporation ( NYSE:PGR ) has announced that it will pay a dividend of US$0.10 per share on...
The Progressive Corporation: Potential Share Price Decline
Progressive Corporation's share price performed strongly over the last few years through Q3-2020. Since then, share price trajectory has flattened, with a reversal of direction quite possible. Strong returns have been contributed to by past EPS growth driving share price gains. Analysts' current EPS estimates indicate negligible future EPS growth through end of 2023. This, and a reversion to historical P/E multiples, creates the very real potential for share price declines.
|PGR||US Insurance||US Market|
Return vs Industry: PGR underperformed the US Insurance industry which returned 35.9% over the past year.
Return vs Market: PGR underperformed the US Market which returned 33.8% over the past year.
Stable Share Price: PGR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: PGR's weekly volatility (2%) has been stable over the past year.
About the Company
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV).
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 ($92.61) is trading below our estimate of fair value ($115.59)
Significantly Below Fair Value: PGR is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: PGR is poor value based on its PE Ratio (9.9x) compared to the US Insurance industry average (9.5x).
PE vs Market: PGR is good value based on its PE Ratio (9.9x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: PGR is poor value based on its PEG Ratio (7.7x)
Price to Book Ratio
PB vs Industry: PGR is overvalued based on its PB Ratio (3x) compared to the US Insurance industry average (1.1x).
How is Progressive forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PGR's forecast earnings growth (1.3% per year) is below the savings rate (2%).
Earnings vs Market: PGR's earnings (1.3% per year) are forecast to grow slower than the US market (14.8% per year).
High Growth Earnings: PGR's earnings are forecast to grow, but not significantly.
Revenue vs Market: PGR's revenue (7.9% per year) is forecast to grow slower than the US market (9.8% per year).
High Growth Revenue: PGR's revenue (7.9% 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 (17.5%).
How has Progressive performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PGR has high quality earnings.
Growing Profit Margin: PGR's current net profit margins (11.9%) are higher than last year (10.8%).
Past Earnings Growth Analysis
Earnings Trend: PGR's earnings have grown significantly by 35.4% per year over the past 5 years.
Accelerating Growth: PGR's earnings growth over the past year (24.8%) is below its 5-year average (35.4% per year).
Earnings vs Industry: PGR earnings growth over the past year (24.8%) underperformed the Insurance industry 76%.
Return on Equity
High ROE: PGR's Return on Equity (29.4%) is considered high.
How is Progressive's financial position?
Financial Position Analysis
Short Term Liabilities: PGR's short term assets ($16.8B) do not cover its short term liabilities ($45.6B).
Long Term Liabilities: PGR's short term assets ($16.8B) exceed its long term liabilities ($5.5B).
Debt to Equity History and Analysis
Debt Level: PGR's debt to equity ratio (28.9%) is considered satisfactory.
Reducing Debt: PGR's debt to equity ratio has reduced from 32.5% to 28.9% over the past 5 years.
Debt Coverage: PGR's debt is well covered by operating cash flow (147.6%).
Interest Coverage: PGR's interest payments on its debt are well covered by EBIT (31.6x coverage).
What is Progressive current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: PGR's dividend (5.29%) is higher than the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: PGR's dividend (5.29%) is in the top 25% of dividend payers in the US market (3.6%)
Stability and Growth of Payments
Stable Dividend: PGR's dividend payments have been volatile in the past 10 years.
Growing Dividend: PGR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (52.5%), PGR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PGR's dividends in 3 years are forecast to be well covered by earnings (40.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Tricia Griffith (57 yo)
Ms. Susan Patricia Griffith, also known as Tricia, has been the Chief Executive Officer and President of Progressive Corp. since July 1, 2016. Ms. Griffith serves as Director at Federal Express Corporation...
CEO Compensation Analysis
Compensation vs Market: Tricia's total compensation ($USD15.22M) is above average for companies of similar size in the US market ($USD11.33M).
Compensation vs Earnings: Tricia's compensation has been consistent with company performance over the past year.
Experienced Management: PGR's management team is seasoned and experienced (5.6 years average tenure).
Experienced Board: PGR's board of directors are considered experienced (4.6 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 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$54.192b
- Shares outstanding: 585.16m
- Website: https://www.progressive.com
Number of Employees
- The Progressive Corporation
- 6300 Wilson Mills Road
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/19 22:02|
|End of Day Share Price||2021/09/17 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.