Last $23.96 USD
Change Today -0.03 / -0.13%
Volume 2.1M
PGR On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

progressive corp (PGR) Snapshot

Open
$23.96
Previous Close
$23.99
Day High
$24.00
Day Low
$23.82
52 Week High
12/2/13 - $27.37
52 Week Low
02/4/14 - $22.53
Market Cap
14.2B
Average Volume 10 Days
3.3M
EPS TTM
$1.57
Shares Outstanding
594.3M
EX-Date
01/27/14
P/E TM
15.2x
Dividend
$0.49
Dividend Yield
6.23%
Current Stock Chart for PROGRESSIVE CORP (PGR)

progressive corp (PGR) Details

The Progressive Corporation, through its subsidiaries, provides personal and commercial automobile insurance, and other specialty property-casualty insurance products and related services primarily in the United States. The company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. Its Personal Lines segment writes insurance for personal autos and recreational and other vehicles. Its products include personal autos and special lines products, including motorcycles, ATVs, RVs, mobile homes, watercraft, and snowmobiles. The company’s Commercial Auto segment provides primary liability and physical damage 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; and tow–tow trucks and wreckers used in towing services and gas/service station businesses. It also operates as an agent for homeowners, general liability, and workers’ compensation insurance; provides policy issuance and claims adjusting services for the commercial auto insurance procedures/plans; and sells personal auto insurance on an Internet-only basis in Australia. The company sells its products and services through independent insurance agencies, as well as directly to consumers online, on a mobile device, and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield Village, Ohio.

26,145 Employees
Last Reported Date: 02/26/14
Founded in 1937

progressive corp (PGR) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $750.0K
Chief Financial Officer and Vice President
Total Annual Compensation: $482.1K
President of Claims Group
Total Annual Compensation: $462.1K
President of Personal Lines Group
Total Annual Compensation: $462.1K
Chief Investment Officer
Total Annual Compensation: $417.7K
Compensation as of Fiscal Year 2013.

progressive corp (PGR) Key Developments

Progressive Corporation Announces Executive Changes

Progressive Corporation announced the retirement of Brian Domeck as CFO in May 2015. The company also announced that John Sauerland is expected to become CFO in early 2015 when Mr. Domeck steps down. Until that time, Mr. Sauerland will continue in his current role as President of the company's Personal Lines Group, while preparing to assume the CFO's responsibilities.

Progressive Corp. Reports Unaudited Earnings Results for the Month and Quarter Ended March 2014

Progressive Corp. reported unaudited earnings results for the month and quarter ended March 2014. For the month, the company reported net premiums written of $1,563.9 million compared to $1,419.0 million a year ago. Net premiums earned were $1,374.9 million compared to $1,303.3 million a year ago. Net income was $118.5 million compared to $74.2 million a year ago. Net income per share was $0.20 compared to $0.12 a year ago. Total pretax net realized gains on securities (including net impairment losses) was $38.6 million compared to $18.7 million a year ago. For the quarter, the company reported net premiums written of $4,681.0 million compared to $4,449.4 million a year ago. Net premiums earned were $4,402.3 million compared to $4,179.3 million a year ago. Net income was $321.3 million compared to $308.6 million a year ago. Net income per share was $0.54 compared to $0.51 a year ago. Total pretax net realized gains on securities (including net impairment losses) was $119.4 million compared to $80.6 million a year ago.

Progressive Corp. Renew its Unsecured, Discretionary Line of Credit with PNC Bank

On march 24, 2014, Progressive Corp. renewed its unsecured, discretionary line of credit with PNC Bank, National Association in the principal amount of $100 million. The prior line of credit, which was reported on March 27, 2013, has expired. The line of credit is on substantially the same terms and conditions as the prior line of credit. Each advance must be repaid on the 30th day after the date of the advance or, if earlier, March 25, 2015, the expiration date of the line of credit. prepayments are permitted without penalty.

 

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Industry Analysis

PGR

Industry Average

Valuation PGR Industry Range
Price/Earnings 12.2x
Price/Sales 0.8x
Price/Book 2.2x
Price/Cash Flow 12.1x
TEV/Sales 0.6x
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