La vendita allo scoperto per Progressive dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Progressive. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Progressive (NYSE:PGR) Azioni, Report sulle vendite allo scoperto

Progressive

Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 20 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

Progressive Corporation (The) Common Stock

Progressive Corp

Paramount Group Inc

Putnam Focused Large Cap Growth ETF

PropertyGuru Group Limited Ordinary Shares

PropertyGuru Group Ltd

B of A Securities analyst Joshua Shanker maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Buy and raises the price target from $331 to $335.

News

Price Target

Analyst Ratings

B of A Securities Maintains Buy on Progressive, Raises Price Target to $335

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$320.00</td>
<td>$127.0K</td>
<td>1.3K</td>
<td>4.1K</td>
</tr>
<tr>
<td>RITM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$10.00</td>
<td>$75.2K</td>
<td>4.5K</td>
<td>1.5K</td>
</tr>
<tr>
<td>STNE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$5.00</td>
<td>$285.4K</td>
<td>26</td>
<td>1.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$43.00</td>
<td>$120.0K</td>
<td>1.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$65.00</td>
<td>$63.1K</td>
<td>48.3K</td>
<td>722</td>
</tr>
<tr>
<td>PYPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$86.00</td>
<td>$42.0K</td>
<td>3.4K</td>
<td>602</td>
</tr>
<tr>
<td>PGR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$255.00</td>
<td>$77.5K</td>
<td>14</td>
<td>260</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$100.00</td>
<td>$25.0K</td>
<td>501</td>
<td>200</td>
</tr>
<tr>
<td>PRU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$125.00</td>
<td>$134.6K</td>
<td>330</td>
<td>163</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$45.00</td>
<td>$25.9K</td>
<td>189</td>
<td>130</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option trade that happens to be bullish, expiring in 7 day(s) on November 22, 2024. This event was a transfer of 200 contract(s) at a $320.00 strike. The total cost received by the writing party (or parties) was $127.0K, with a price of $635.0 per contract. There were 1321 open contracts at this strike prior to today, and today 4120 contract(s) were bought and sold. 
• For RITM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RITM#NYSE">RITM</a>), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 1003 contract(s) at a $10.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $75.2K, with a price of $75.0 per contract. There were 4589 open contracts at this strike prior to today, and today 1515 contract(s) were bought and sold. 
• Regarding STNE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>), we observe a call option trade with bullish sentiment. It expires in 791 day(s) on January 15, 2027. Parties traded 499 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $285.4K, with a price of $572.0 per contract. There were 26 open contracts at this strike prior to today, and today 1513 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a put option trade that happens to be neutral, expiring in 126 day(s) on March 21, 2025. This event was a transfer of 1000 contract(s) at a $43.00 strike. The total cost received by the writing party (or parties) was $120.0K, with a price of $120.0 per contract. There were 1124 open contracts at this strike prior to today, and today 1003 contract(s) were bought and sold. 
• For C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we notice a call option trade that happens to be bullish, expiring in 63 day(s) on January 17, 2025. This event was a transfer of 112 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $63.1K, with a price of $564.0 per contract. There were 48320 open contracts at this strike prior to today, and today 722 contract(s) were bought and sold. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a put option sweep with bullish sentiment. It expires in 7 day(s) on November 22, 2024. Parties traded 300 contract(s) at a $86.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $42.0K, with a price of $140.0 per contract. There were 3456 open contracts at this strike prior to today, and today 602 contract(s) were bought and sold. 
• Regarding PGR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), we observe a put option sweep with bearish sentiment. It expires in 63 day(s) on January 17, 2025. Parties traded 76 contract(s) at a $255.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $77.5K, with a price of $1020.0 per contract. There were 14 open contracts at this strike prior to today, and today 260 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a call option trade that happens to be bearish, expiring in 791 day(s) on January 15, 2027. This event was a transfer of 50 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $25.0K, with a price of $500.0 per contract. There were 501 open contracts at this strike prior to today, and today 200 contract(s) were bought and sold. 
• For PRU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), we notice a put option sweep that happens to be bearish, expiring in 217 day(s) on June 20, 2025. This event was a transfer of 162 contract(s) at a $125.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $134.6K, with a price of $834.0 per contract. There were 330 open contracts at this strike prior to today, and today 163 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a call option trade with bearish sentiment. It expires in 217 day(s) on June 20, 2025. Parties traded 100 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $25.9K, with a price of $259.0 per contract. There were 189 open contracts at this strike prior to today, and today 130 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

HOOD

PYPL

RITM

STNE

10 Financials Stocks Whale Activity In Today's Session

General

Progressive shares are trading higher after the company reported a year-over-year increase in Q3 financial results.

Earnings

Progressive Oct. EPS $0.69 vs $0.68 YoY; Net Premiums Written $6.578B, Up 19% YoY

Progressive's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) short percent of float has risen 13.58% since its last report. The company recently reported that it has 5.35 million shares sold short, which is 0.92% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Progressive Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731351623_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Progressive has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Progressive's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Progressive's peer group average for short interest as a percentage of float is 1.81%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(PGR) - Analyzing Progressive's Short Interest

TD Cowen analyst Andrew Kligerman maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Hold and raises the price target from $197 to $237.

TD Cowen Maintains Hold on Progressive, Raises Price Target to $237

In the latest quarter, 21 analysts provided ratings for Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">10</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $284.57, with a high estimate of $331.00 and a low estimate of $251.00. Observing a 5.07% increase, the current average has risen from the previous average price target of $270.84. 
<img src="https://www.benzinga.com/files/images/story/2024/1730919653_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The analysis of recent analyst actions sheds light on the perception of Progressive by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Motemaden</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$285.00</td>
<td>$277.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$277.00</td>
<td>$267.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$310.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$290.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$331.00</td>
<td>$319.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$251.00</td>
<td>$242.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$319.00</td>
<td>$309.00</td>
</tr>
<tr>
<td>Yaron Kinar</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$295.00</td>
<td>$257.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$280.00</td>
<td>$262.00</td>
</tr>
<tr>
<td>Harry Fong</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$290.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$300.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$282.00</td>
<td>$281.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$267.00</td>
<td>-</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$312.00</td>
<td>$294.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$275.00</td>
<td>$255.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$294.00</td>
<td>$296.00</td>
</tr>
<tr>
<td>Harry Fong</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$270.00</td>
<td>$235.00</td>
</tr>
<tr>
<td>Paul Newsome</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$252.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$281.00</td>
<td>$262.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$262.00</td>
<td>$230.00</td>
</tr>
<tr>
<td>Vikram Gandhi</td>
<td>HSBC</td>
<td>Announces</td>
<td>Buy</td>
<td>$253.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progressive. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Progressive's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Progressive's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/PGR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Progressive analyst ratings.</a>
<h2>Delving into Progressive's Background</h2>
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 20 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
<h3>Progressive's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Progressive's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 26.74%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Progressive's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 11.84%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Progressive's ROE stands out, surpassing industry averages. With an impressive ROE of 9.24%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Progressive's ROA stands out, surpassing industry averages. With an impressive ROA of 2.3%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Progressive's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.25.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Progressive Stock: A Deep Dive Into Analyst Perspectives (21 Ratings)

Goldman Sachs analyst Robert Cox reiterated the Buy rating on Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a <a target="_blank" href="https://www.benzinga.com/quote/PGR/analyst-ratings" rel="noreferrer noopener">price objective of $294.</a>
The analyst increased the company&#8217;s 2025/2026 EPS estimate by 4%, mainly driven by a more favorable outlook for the personal lines loss ratio.
Cox suggests that their view of a modest improvement in the expense ratio (excluding advertising) over the next two years remains largely unchanged, projecting a 35bps increase.
However, the analyst raised estimate for the consolidated expense ratio by 20-30bps in 2025/2026 due to expectations of higher advertising spending.
Additionally, Cox revised the net interest income (NII) estimates upwards, reflecting the updated forward curve for fixed income yields.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/41782529/deutsche-bank-upgrades-celanese-stock-analyst-highlights-strong-leverage-long-term-growth" rel="noreferrer noopener">Deutsche Bank Upgrades Celanese Stock: Analyst Highlights Strong Leverage, Long-Term Growth</a>
As a result, the analyst&#8217;s 2025/2026 EPS estimates increase by 5%/4%, remaining approximately 7% above consensus estimates.
The analyst notes that, in their updated loss trend analysis, he is maintaining a severity trend of approximately 4% for 2025. This forecast takes into account a 6% increase in bodily injury severity and a 2% rise in physical damage severity, driven by a shift from depreciation to moderate inflation in used car prices, along with more normalized inflation in repair costs.
The analyst states that he is raising their estimates for personal auto policy-in-force (PIF) growth by 100bps in 2025 and 20bps in 2026. Additionally, Cox increased the estimate for the consolidated expense ratio by 20-30bps.
This adjustment reflects the continued expectation that advertising efficiency in 2025/2026 will remain, on average, more than 30% below the pre-pandemic (2017-2019) levels.
Price Action: PGR shares are trading higher by 2.76% to $254.93 at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41778433/s-p-500-dow-hit-record-highs-after-trump-win-fear-index-drops-20" target="_blank" rel="noreferrer noopener">S&amp;P 500, Dow Hit Record Highs After Trump Win; Fear Index Drops 20%</a></li>
</ul>

Equities

Reiteration

Markets

Movers

Progressive To Gain From Improved Loss Ratio And Stronger Outlook: Analyst Boosts Estimates

Evercore ISI Group analyst David Motemaden maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Outperform and raises the price target from $277 to $285.

Evercore ISI Group Maintains Outperform on Progressive, Raises Price Target to $285

Progressive's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) short percent of float has risen 13.58% since its last report. The company recently reported that it has 5.35 million shares sold short, which is 0.92% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Progressive Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730731612_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Progressive has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Progressive's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Progressive's peer group average for short interest as a percentage of float is 1.81%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) has outperformed the market over the past 5 years by 14.56% on an annualized basis producing an average annual return of 28.4%. Currently, Progressive has a market capitalization of $142.69 billion. 
Buying $1000 In PGR: If an investor had bought $1000 of PGR stock 5 years ago, it would be worth $3,539.38 today based on a price of $243.58 for PGR at the time of writing.
<h3>Progressive's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729882829_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $3,500 Today

Barclays analyst Alex Scott maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Equal-Weight and raises the price target from $267 to $277.

Barclays Maintains Equal-Weight on Progressive, Raises Price Target to $277

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&#39;s environment is ripe for insurance businesses to rally further into the year, if not continue their bullish momentum into 2025.
Markets don&#39;t need to understand the insurance ins and outs to know that when the price of the assets being insured increases, so do the insurance premiums being charged to protect that item. Not only that, insurance companies will increase prices by a set premium to avoid any further inflation shocks that may come their way, making them the perfect business to keep in mind during interest rate cut cycles such as today.
The prime target, who holds significant market share and is a household name, has become the Progressive Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>), especially after the company reported its latest set of quarterly earnings to show investors just how much growth awaits them by choosing to invest in insurance companies this cycle. Wall Street analysts agree, and markets love it just as much.
<h2>Progressive Stock Earnings Signal Strong Growth</h2>
With inflation up roughly 3% to 3.5% over the past 12 months, Progressive&#39;s new signed-up policies had a compound effect on the company&#39;s revenues. According to the latest quarterly earnings press release, Progressive reported up to 25% jumps in net premiums written.
The addition of new premiums through policies ended up raising Progressive&#39;s premiums by 23%, laying the foundation for further double-digit growth in the rest of the business. The bottom line, exciting to investors, saw enough growth to get Wall Street&#39;s attention this quarter.
A 108% expansion in net income should be enough to send any stock into a new rally. Progressive stock&#39;s price action shows the company now trading at 96% of its 52-week high as a sign of bullish interest surrounding the stock today. But it doesn&#39;t stop there.
Earnings per share (EPS) forecasts from Wall Street analysts today are set for a flattish pattern in the next 12 months, which is considerably below the recent track record Progressive has shown markets. Over the past 12 months, Progressive reported EPS growth of up to 110% to reach $3.97.
All of this growth might not be priced in, despite the stock trading near a 52-week high price, and that is something a few Wall Street analysts &ndash; alongside broader markets &ndash; have started to notice in the way they&#39;ve expressed their views and action toward Progressive stock lately.
<h2>Wall Street Weighs In on Progressive Stock&#39;s Future: Key Insights for Investors</h2>
Now, for another gauge, investors can consider moving forward in their hunt for upside in the insurance industry; here is what Wall Street has to say about Progressive stock. This is a particularly important view now that the company has reported such a strong quarterly trend.
The consensus price target for Progressive stock is $268.2 a share today, which calls for up to 5% upside from where it trades today. While this benchmark is good enough to beat inflation this year, that&#39;s not why investors want to stick around for this insurance play.
After the company released its latest quarter, filled with double&mdash;and even triple-digit growth, analysts at Bank of America reiterated their Buy target for Progressive, this time coupling their view with a much higher price target. These analysts see the stock trading as high as $331 a share, daring it to rally by as much as 30% from where it trades today, not to mention a new all-time high for the company.
Broader markets are also willing to express their bullish view for Progressive stock today, a trend investors can see in the premiums paid for the stock compared to peers in the industry. Progressive&#39;s price-to-book (P/B) ratio of 7.5x today commands a significant premium over the insurance industry&#39;s average 2.2x valuation.
More than that, on a price-to-earnings (P/E) basis, Progressive stock again commands a premium as it trades at 21.7x compared to the industry&#39;s 15.6x multiple. Markets will typically overpay for stocks they believe will grow at above-average rates, so this time, the premium is more than justified in Progressive&#39;s triple-digit EPS growth during the year.
Lastly, there are even signs of bearish capitulation, judging by the 8% decline in short interest for Progressive over the past month, an accelerating trend as overall short interest has declined during the third quarter of 2024.
The article &quot;<a href="https://www.marketbeat.com/originals/progressive-leads-the-way-as-analysts-bet-big-on-insurance-stocks/">Progressive Leads the Way as Analysts Bet Big on Insurance Stocks</a>&quot; first appeared on MarketBeat.

Large Cap

Insurance

Progressive Leads the Way as Analysts Bet Big on Insurance Stocks

Morgan Stanley analyst Bob Huang maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Overweight and raises the price target from $300 to $310.

Morgan Stanley Maintains Overweight on Progressive, Raises Price Target to $310

Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) reported $630 million in catastrophe losses related to Hurricane Helene alone. The company reported total estimated catastrophe losses of $889 million for September, more than twice the amount reported <a href="https://www.benzinga.com/pressreleases/24/10/b41378242/allstate-announces-september-and-third-quarter-2024-catastrophe-losses-run-off-reserve-review-and-">for the same month last year.&nbsp;</a>
What Happened: The impact of Hurricane Helene has led to a substantial increase in Allstate&#8217;s losses for the third quarter of 2024 which the company reported as $1.7 billion, up from $1.18 billion in the same quarter in 2023. 
Other insurance companies affected by the recent hurricanes include Progressive Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), which <a href="https://www.benzinga.com/pressreleases/24/10/g41329804/progressive-reports-september-2024-results">recorded</a> $563 million in catastrophe in September as a result of Hurricane Helene. Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) reported catastrophe losses of $939 million for the third quarter of 2024 due to Hurricane Helene, an increase of $89 million compared to the same period last year.
Read Next: <a href="https://www.benzinga.com/news/24/10/41385546/ftc-click-to-cancel-rule-makes-it-easy-to-end-subscriptions-what-it-means-for-netflix-planet-fitness">FTC &#8216;Click-To-Cancel&#8217; Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More</a>
Moody's Risk Management Solutions, or RMS, said<a href="https://www.benzinga.com/news/24/10/41321615/hurricanes-helene-milton-insurance-losses-spike-to-55b-moodys"> it expects</a> combined total insured losses from Hurricane Helene and Hurricane Milton to range between $35 billion and $55 billion.
According to <a href="https://www.insurtechinsights.com/hurricanes-helene-and-milton-floridas-insurance-market-on-the-brink/">a report</a> from Insurtech Insights, Hurricanes Helene and Milton contributed to total losses for Florida insurers of more than $100 billion for the fifth consecutive year, comparable to the losses from Hurricane Katrina in 2005.&nbsp;
Why It Matters: Citizens, Florida's state-backed insurer of last resort, has seen a surge in policyholders in recent years, especially after recent destructive hurricanes. 
The rapid influx raises serious concerns about its financial stability as it has experienced massive underwriting losses, amounting to hundreds of millions of dollars. Citizens estimates it is currently at a 38% rate inadequate, meaning it needs a 38% rate increase to be solvent. However, Florida law caps its annual rate increases at 10%
Citizens is transferring more than 648,000 policies to private insurers, per<a href="https://www.clickorlando.com/news/local/2024/10/04/what-citizens-insurance-depopulation-means-for-florida-homeowners/"> Click Orlando</a>. These companies are also experiencing <a href="https://www.benzinga.com/markets/equities/24/10/41240852/back-to-back-hurricanes-batter-floridas-insurance-market-stocks-to-watch">financial strain</a> due to increased claims, likely leading to higher premiums and reduced coverage availability.
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/government/24/10/41346351/cybersecurity-firm-warns-of-threats-to-2024-presidential-election-integrity">Cybersecurity Firm Warns Of Threats To 2024 Presidential Election Integrity</a>&nbsp;</li>
</ul>
Photo: wurliburli from Pixabay

Allstate Records $630M In Losses From Hurricane Helene, Other Insurers Report Significant Losses As Damage Mounts

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Outperform and raises the price target from $280 to $290.

Keefe, Bruyette & Woods Maintains Outperform on Progressive, Raises Price Target to $290

B of A Securities analyst Joshua Shanker maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Buy and raises the price target from $319 to $331.

B of A Securities Maintains Buy on Progressive, Raises Price Target to $331

Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) reported quarterly earnings of $3.58 per share which missed the analyst consensus estimate of $3.66 by 2.19 percent. The company reported quarterly sales of $18.297 billion which missed the analyst consensus estimate of $19.052 billion by 3.96 percent. This is a 22.85 percent increase over sales of $14.894 billion the same period last year.

UPDATE: Progressive Q3 2024 Adj. EPS $3.58 Misses $3.66 Estimate, Sales $18.297B Miss $19.052B Estimate

The Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) today reported the following results for the month ended September&nbsp;30, 2024 and the third quarter of 2024: &nbsp;
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="2">September</td>
<td colspan="8">Quarter</td>
</tr>
<tr>
<td>(millions, except per share amounts and ratios; unaudited)</td>
<td colspan="2">&nbsp;2024</td>
<td colspan="2">&nbsp;2024</td>
<td colspan="3">&nbsp;2023&nbsp;</td>
<td>Change</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net premiums written</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 6,570.0</td>
<td>$</td>
<td>19,455.6</td>
<td>$</td>
<td>15,593.8</td>
<td>25&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net premiums earned</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 6,262.7</td>
<td>$</td>
<td>18,296.7</td>
<td>$</td>
<td>14,894.3</td>
<td>23&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net income</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584.6</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 2,333.4</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 1,121.3</td>
<td>108&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>&nbsp; Per share available to common shareholders</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.99</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.97</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.89</td>
<td>110&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Total pretax net realized gains (losses) on securities</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121.2</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287.4</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp; (149.0</td>
<td>)</td>
<td>(293)%</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Combined ratio</td>
<td>93.4</td>
<td>89.0</td>
<td>92.4</td>
<td>(3.4)pts.</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Combined ratio – prior year month</td>
<td>89.7</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Average diluted equivalent common shares</td>
<td>587.7</td>
<td>587.6</td>
<td>587.5</td>
<td>0&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
</figure>

Progressive Reports September 2024 EPS $0.99; Net Premiums Written $6.57B

The Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) today reported the following results for the month ended September&nbsp;30, 2024 and the third quarter of 2024:
&nbsp;
<table>
<tbody>
<tr>
<td colspan="2">September</td>
<td colspan="8">Quarter</td>
</tr>
<tr>
<td>(millions, except per share amounts and ratios; unaudited)</td>
<td colspan="2">&nbsp;2024</td>
<td colspan="2">&nbsp;2024</td>
<td colspan="3">&nbsp;2023&nbsp;</td>
<td>Change</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net premiums written</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 6,570.0</td>
<td>$</td>
<td>19,455.6</td>
<td>$</td>
<td>15,593.8</td>
<td>25&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net premiums earned</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 6,262.7</td>
<td>$</td>
<td>18,296.7</td>
<td>$</td>
<td>14,894.3</td>
<td>23&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net income</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584.6</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 2,333.4</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp; 1,121.3</td>
<td>108&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>&nbsp; Per share available to common shareholders</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.99</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.97</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.89</td>
<td>110&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Total pretax net realized gains (losses) on securities</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121.2</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287.4</td>
<td>$</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp; (149.0</td>
<td>)</td>
<td>(293)%</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Combined ratio</td>
<td>93.4</td>
<td>89.0</td>
<td>92.4</td>
<td>(3.4)pts.</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Combined ratio &ndash; prior year month</td>
<td>89.7</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Average diluted equivalent common shares</td>
<td>587.7</td>
<td>587.6</td>
<td>587.5</td>
<td>0&nbsp;%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>

Progressive Reports Q3 2024 EPS $3.97 Up From $1.89 YoY; Net Premiums Written $19.455B Vs $15.593B YoY

With rapid economic growth, evolving consumer demand, and support from government initiatives, the insurance sector is flourishing. Therefore, it could be wise to invest in quality insurance stocks, Travelers Companies (TRV), Progressive (PGR), and Allstate (ALL), outperforming the market in 2024. Read more... The importance and demand for insurance are constantly growing as economic and geopolitical risks surge, accelerating the industry's growth. Also, with advancements in technologies and rapid urbanization, the market is poised for expansion.
Against this backdrop, it could be wise to invest in fundamentally strong insurance stocks, The Travelers Companies, Inc. (<a href="https://stocknews.com/stock/TRV/">TRV</a>), The Progressive Corporation (<a href="https://stocknews.com/stock/PGR/">PGR</a>), and The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>) that are beating the market in 2024.
Amid rising economic risks, uncertainties, and mandatory requirements, the insurance market's growth trajectory appears robust. The market's overall growth remained largely positive during the third quarter through buyer-friendly conditions across most of <a href="https://www.aon.com/en/insights/articles/global-insurance-market-overview-q3-2024">the global insurance market</a>.
Healthy insurer returns and improved reinsurance conditions restored insurer confidence, growth, and accelerated competition. Further, the recent <a href="https://insurancenewsnet.com/innarticle/insurance-experts-see-good-news-after-fed-cuts-rates-by-a-half-point">half-point rate cut</a> by the Federal Reserve is anticipated to benefit the insurance sector in different ways. The lower rate can stimulate borrowing and spending among consumers, offering expansion opportunities to the segment.
With this, the property &amp; casualty insurance market size is expected to register a <a href="https://www.gminsights.com/industry-analysis/property-and-casualty-insurance-market">CAGR of 5.5%</a> resulting in a market value of $3.02 trillion by 2032. Market drivers include growing urbanization worldwide, rising awareness, increasing product diversification, technological advancements, and evolving regulatory demands.
Artificial intelligence (AI) technology is transforming the insurance industry significantly, like many others. The <a href="https://www.precedenceresearch.com/artificial-intelligence-in-insurance-market">advancement of AI has revolutionized various aspects</a> like risk assessment, underwriting, claims processing, and customer service. The unique capabilities of AI are unveiling innovative ways to optimize business operations and encourage healthy competition.
Further, the insurance stocks discussed below have outperformed the <a href="https://www.spglobal.com/spdji/en/indices/equity/sp-500/#overview">S&amp;P 500</a> year-to-date (YTD) return of 24.7%. In light of these favorable trends, let's look at the fundamentals of the three <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance – Property &amp; Casualty</a> stocks, beginning with number 3.
Stock #3: The Travelers Companies, Inc. (<a href="https://stocknews.com/stock/TRV/">TRV</a>)
TRV offers commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals internationally. The company operates in three segments: Business Insurance; Bond &amp; Specialty Insurance; and Personal Insurance.
On August 1, TRV's division, Travelers Canada, launched OPTIMA&#xAE; Home, a new property insurance product that offers customizable coverage options for homeowners, tenants, condominiums, and landlord policies. Enshrined in a highly intuitive platform, the product allows brokers to seamlessly quote, issue, and adjust coverage.
On July 25, TRV released Quantum Boat 2.0, an enhanced boat insurance product that offers more personalized coverage options through an easy-to-use platform enabling agents to seamlessly quote and bind coverage. The product expanded customer eligibility and offered a better quoting experience for agents, resulting in increased efficiency and enhanced customer service.
During the third quarter that ended September 30, 2024, TRV's <a href="https://www.investopedia.com/terms/n/net-premiums-written.asp#:~:text=Net%20premiums%20written%20is%20the,to%20keep%20for%20assuming%20risk.">net written premiums</a> increased 7.9% year-over-year to $11.32 billion, and its total revenues rose 11.9% year-over-year to $11.90 billion. The company's core income came in at $1.22 billion or $5.24 per share, up 168.3% and 168.7% from the prior year's quarter, respectively.
Analysts expect TRV's revenue and EPS for the first quarter (ending March 2025) to grow 8.5% and 25.8% year-over-year to $10.98 billion and $5.90, respectively. Also, the company topped the consensus EPS estimates in three of the four trailing quarters.
Shares of TRV have surged 17.9% over the past six months and 34.7% year-to-date to close the last trading session at $256.52.
TRV's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
TRV has an A grade for Momentum. It also has a B grade for Stability. It is ranked #20 out of 55 stocks in the A-rated <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance – Property &amp; Casualty</a> industry.
In addition to the POWR Ratings we've stated above, we also have TRV ratings for Value, Quality, Growth, and Sentiment. Get all TRV ratings <a href="https://stocknews.com/stock/TRV/">here</a>.
Stock #2: The Progressive Corporation (<a href="https://stocknews.com/stock/PGR/">PGR</a>)
PGR is an insurance holding company that offers personal and commercial auto, personal residential and commercial property, business-related general liability, and other specialty property-casualty insurance products and related services. The company operates through three segments: Personal Lines; Commercial Lines; and Property.
On August 5, PGR's Board of Directors declared a $0.10 per common share dividend, paid on October 11, 2024, to shareholders of record at the close of business on October 3, 2024.
PGR pays an annual dividend of $0.40, which translates to a yield of 0.15% at the current share price. Its four-year average dividend yield is 2%. Also, the company's dividend payouts have increased at a CAGR of 8.8% over the past ten years.
For the third quarter that ended September 30, 2024, PGR's net premiums earned increased 22.8% year-over-year to $18.30 billion. The company's net income amounted to $2.33 billion and $3.97 per share, reflecting growth of 108.1% and 110.1% from the prior year's quarter, respectively.
Furthermore, as of September 30, 2024, the company's total investments and total assets stood at $79.40 billion and $105.20 billion, respectively.
Street expects PGR's revenue for the fourth quarter (ending December 2024) to increase 26.1% year-over-year to $19.08 billion, while its EPS is expected to grow 3.4% year-over-year to $3.08, respectively. Furthermore, the company surpassed the consensus revenue and EPS estimates in three of the trailing four quarters.
PGR's stock has soared 20.5% over the past six months and 61.7% year-to-date to close the last trading session at $257.50.
PGR's bright prospects are reflected in its POWR Ratings. It has an overall rating of B, translating to a Buy in our proprietary rating system.
The stock has an A grade for Momentum and a B for Quality and Sentiment. PGR is ranked #19 among 55 stocks in the same industry.
<a href="https://stocknews.com/stock/PGR/">Click here</a> to access PGR's ratings for Stability, Growth, and Value.
Stock #1: The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>)
ALL provides property and, casualty, and other insurance products. The company operates through five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.
On November 14, ALL's division, Allstate Health Solutions, entered into a new partnership with Thatch and Ambetter Health, and Intuit QuickBooks to enhance its product offerings. This strategic collaboration introduces an Individual Coverage Health Reimbursement Arrangement (ICHRA), allowing businesses to directly reimburse employees for healthcare coverage.
The partnership reflects ALL's commitment to helping people find the coverage they need. The solution will offer employees the flexibility to choose the best insurance plan according to their individual needs from a variety of coverage options.
On November 4, ALL and Arlo, a leading smart home security brand, unveiled a smarter way to protect homeowners with The Arlo Total Security bundle for Allstate. The new solution combines professional monitoring, hardware, and device protection and will benefit homeowners this holiday season.
ALL's consolidated revenues increased 14.7% from the prior-year quarter to $16.63 billion during the third quarter that ended September 30, 2024. Its consolidated premiums written rose 10% from the year-ago value to $15.87 billion. The company's adjusted net income came in at $1.05 billion and $3.19 per common share, indicating increases of 389.7% and 382.7% year-over-year, respectively.
Street expects ALL's EPS for the first quarter (ending March 2025) to increase 7.7% year-over-year to $5.53 and its revenue for the same quarter is expected to grow 7% year-over-year to $16.32 billion. Also, the company has surpassed the consensus revenue and EPS estimates in all of the trailing four quarters, which is impressive.
ALL's stock has gained 15.8% over the past six months and 39.9% year-to-date to close the last trading session at $195.78.
ALL's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
The stock has an A grade for Momentum and Sentiment. It also has a B grade for Stability. Within the A-rated Insurance – Property &amp; Casualty industry, ALL is ranked #4 among the 55 stocks.
<a href="https://stocknews.com/stock/ALL/">Click here</a> to access additional ratings of ALL for Growth, Value, and Quality.
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PGR shares were unchanged in after-hours trading Friday. Year-to-date, PGR has gained 61.61%, versus a 24.40% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/pgr-trv-all-3-insurance-stocks-that-are-beating-the-market-in-2024/>3 Insurance Stocks That Are Beating the Market in 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Insurance Stocks That Are Beating the Market in 2024

Wells Fargo raised the firm's price target on Progressive (PGR) to $299 from $297 and keeps an Overweight rating on the shares. The firm highlighte...

Progressive price target raised to $299 from $297 at Wells Fargo

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Progressive's Growth Potential and Strong Earnings Outlook Justify Buy Rating

Barclays analyst Alex Scott maintained a Hold rating on Progressive (PGR – Research Report) today and set a price target of $277.00. The company's ...

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BofA raised the firm's price target on Progressive (PGR) to $335 from $331 and keeps a Buy rating on the shares. October EPS results came in ahead ...

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Press Releases

Progressive Insurance®, Hello Alice Award $1 Million to Small Business Owners

Progressive Reports August 2024 Results

U.S. Marine Corp Veteran to Receive 2022 Freightliner Cascadia truck from Progressive Insurance®

Progressive Reports September 2024 Results

Progressive Insurance® Allocates Over $3 Million to Support Disaster Relief Efforts

Progressive Announces Investor Relations Call

Progressive Insurance® Gives Fantasy Football Players Extra Assurance with The Fantasy Backup Plan Sweepstakes

Progressive's 12th Annual Keys to Progress® Program Donates Nearly 100 Vehicles to Military Families

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