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PGR Progressive Corporation

208.85
-2.95 (-1.39%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Progressive Corporation NYSE:PGR NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -2.95 -1.39% 208.85 212.78 208.32 211.80 2,023,101 01:00:00

Progressive Posts Higher-Than-Expected 3Q Profit

16/10/2019 2:20pm

Dow Jones News


Progressive (NYSE:PGR)
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From May 2019 to May 2024

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   By Dave Sebastian 
 

Progressive Corp. (PGR) reported lower third-quarter earnings that beat expectations as net premiums earned rose.

The Mayfield Village, Ohio, insurance provider posted a profit of $841.7 million, or $1.42 a share, for the quarter, down from $928.4 million, or $1.57 a share, in the comparable quarter last year. Analysts polled by FactSet were expecting $1.34 a share.

The company said net premiums written rose 12% to $9.62 billion and net premiums earned rose 14% to $9.01 billion.

Progressive's pretax net realized gains on securities fell 64% to $65.4 million for the quarter.

The company said its combined ratio, a measure of claims against premiums, rose to 91.9% from 90.3% in the year-ago period.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

October 16, 2019 09:05 ET (13:05 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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