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PGR

Progressive NYSE:PGR Stock Report

Last Price

US$118.48

Market Cap

US$69.3b

7D

2.1%

1Y

19.7%

Updated

03 Jul, 2022

Data

Company Financials +
PGR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance2/6
Financial Health4/6
Dividends4/6

PGR Stock Overview

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.

Progressive Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Progressive
Historical stock prices
Current Share PriceUS$118.48
52 Week HighUS$121.36
52 Week LowUS$89.35
Beta0.49
1 Month Change-0.53%
3 Month Change3.84%
1 Year Change19.71%
3 Year Change41.06%
5 Year Change163.35%
Change since IPO10,978.65%

Recent News & Updates

Jul 03
Progressive (NYSE:PGR) Will Pay A Dividend Of US$0.10

Progressive (NYSE:PGR) Will Pay A 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...

Jun 19
Progressive (NYSE:PGR) Will Pay A Dividend Of US$0.10

Progressive (NYSE:PGR) Will Pay A Dividend Of US$0.10

The Progressive Corporation ( NYSE:PGR ) has announced that it will pay a dividend of US$0.10 per share on the 15th of...

Shareholder Returns

PGRUS InsuranceUS Market
7D2.1%0.7%-2.2%
1Y19.7%2.9%-21.2%

Return vs Industry: PGR exceeded the US Insurance industry which returned 2.9% over the past year.

Return vs Market: PGR exceeded the US Market which returned -21.2% over the past year.

Price Volatility

Is PGR's price volatile compared to industry and market?
PGR volatility
PGR Average Weekly Movement4.3%
Insurance Industry Average Movement5.0%
Market Average Movement8.1%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.3%

Stable Share Price: PGR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PGR's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
193749,077Tricia Griffithhttps://www.progressive.com

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).

Progressive Fundamentals Summary

How do Progressive's earnings and revenue compare to its market cap?
PGR fundamental statistics
Market CapUS$69.30b
Earnings (TTM)US$2.16b
Revenue (TTM)US$48.07b

32.1x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PGR income statement (TTM)
RevenueUS$48.07b
Cost of RevenueUS$44.86b
Gross ProfitUS$3.22b
Other ExpensesUS$1.06b
EarningsUS$2.16b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 15, 2022

Earnings per share (EPS)3.69
Gross Margin6.69%
Net Profit Margin4.49%
Debt/Equity Ratio37.4%

How did PGR perform over the long term?

See historical performance and comparison

Dividends

1.6%

Current Dividend Yield

51%

Payout Ratio

Does PGR pay a reliable dividends?

See PGR dividend history and benchmarks
When do you need to buy PGR by to receive an upcoming dividend?
Progressive dividend dates
Ex Dividend DateJul 06 2022
Dividend Pay DateJul 15 2022
Days until Ex dividend1 day
Days until Dividend pay date10 days

Does PGR pay a reliable dividends?

See PGR dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is PGR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PGR?

Other financial metrics that can be useful for relative valuation.

PGR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.6x
Enterprise Value/EBITDA23x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does PGR's PE Ratio compare to its peers?

PGR PE Ratio vs Peers
The above table shows the PE ratio for PGR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.2x
CB Chubb
10.3x4.9%US$84.3b
TRV Travelers Companies
10.4x4.4%US$40.8b
ALL Allstate
10.8x22.9%US$35.9b
CINF Cincinnati Financial
9.4x-11.7%US$19.3b
PGR Progressive
32.1x39.0%US$69.3b

Price-To-Earnings vs Peers: PGR is expensive based on its Price-To-Earnings Ratio (32.1x) compared to the peer average (10.2x).


Price to Earnings Ratio vs Industry

How does PGR's PE Ratio compare vs other companies in the US Insurance Industry?

Price-To-Earnings vs Industry: PGR is expensive based on its Price-To-Earnings Ratio (32.1x) compared to the US Insurance industry average (11.7x)


Price to Earnings Ratio vs Fair Ratio

What is PGR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PGR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio32.1x
Fair PE Ratio19.6x

Price-To-Earnings vs Fair Ratio: PGR is expensive based on its Price-To-Earnings Ratio (32.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.6x).


Share Price vs Fair Value

What is the Fair Price of PGR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PGR ($118.48) is trading below our estimate of fair value ($145.28)

Significantly Below Fair Value: PGR is trading below fair value, but not by a significant amount.


Price to Earnings Growth Ratio

PEG Ratio: PGR is good value based on its PEG Ratio (0.8x)


Discover undervalued companies

Future Growth

How is Progressive forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


39.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PGR's forecast earnings growth (39% per year) is above the savings rate (1.9%).

Earnings vs Market: PGR's earnings (39% per year) are forecast to grow faster than the US market (13.6% per year).

High Growth Earnings: PGR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PGR's revenue (9.5% per year) is forecast to grow faster than the US market (8.2% per year).

High Growth Revenue: PGR's revenue (9.5% 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 (20%).


Discover growth companies

Past Performance

How has Progressive performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


21.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PGR has high quality earnings.

Growing Profit Margin: PGR's current net profit margins (4.5%) are lower than last year (14.4%).


Past Earnings Growth Analysis

Earnings Trend: PGR's earnings have grown significantly by 21.7% per year over the past 5 years.

Accelerating Growth: PGR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PGR had negative earnings growth (-66.6%) over the past year, making it difficult to compare to the Insurance industry average (-3.3%).


Return on Equity

High ROE: PGR's Return on Equity (12.8%) is considered low.


Discover strong past performing companies

Financial Health

How is Progressive's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PGR's short term assets ($17.0B) do not cover its short term liabilities ($50.1B).

Long Term Liabilities: PGR's short term assets ($17.0B) exceed its long term liabilities ($6.7B).


Debt to Equity History and Analysis

Debt Level: PGR's net debt to equity ratio (32.7%) is considered satisfactory.

Reducing Debt: PGR's debt to equity ratio has increased from 34.5% to 37.4% over the past 5 years.

Debt Coverage: PGR's debt is well covered by operating cash flow (119.8%).

Interest Coverage: PGR's interest payments on its debt are well covered by EBIT (13.6x coverage).


Balance Sheet


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Dividend

What is Progressive current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.60%

Current Dividend Yield

Upcoming Dividend Payment

TodayJul 04 2022Ex Dividend DateJul 06 2022Dividend Pay DateJul 15 20229 days from Ex DividendBuy in the next 1 day to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: PGR's dividend (1.6%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: PGR's dividend (1.6%) is low compared to the top 25% of dividend payers in the US market (4.25%).


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.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (51.5%), PGR's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (15.1%), PGR's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.0yrs

Average management tenure


CEO

Tricia Griffith (58 yo)

6yrs

Tenure

US$14,462,961

Compensation

Ms. Tricia Griffith has been the Chief Executive Officer and President of Progressive Corp. since July 1, 2016. Ms. Griffith serves as Director at Federal Express Corporation since August 2018. Ms. Griffit...


CEO Compensation Analysis

Compensation vs Market: Tricia's total compensation ($USD14.46M) is about average for companies of similar size in the US market ($USD13.34M).

Compensation vs Earnings: Tricia's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PGR's management team is seasoned and experienced (6 years average tenure).


Board Members

Experienced Board: PGR's board of directors are considered experienced (6.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

The Progressive Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: The Progressive Corporation
  • Ticker: PGR
  • Exchange: NYSE
  • Founded: 1937
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Implied Market Cap: US$69.296b
  • Shares outstanding: 584.88m
  • Website: https://www.progressive.com

Number of Employees


Location

  • The Progressive Corporation
  • 6300 Wilson Mills Road
  • Mayfield
  • Ohio
  • 44143
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/03 00:00
End of Day Share Price2022/07/01 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.