The Progressive Corporation reports significant growth in net premiums and income for April 2025 compared to the previous year.
Quiver AI Summary
The Progressive Corporation reported strong financial results for April 2025, showing an 11% increase in net premiums written to $6.837 billion and a 19% rise in net premiums earned to $6.641 billion compared to April 2024. Net income surged by 134% to $986 million, with earnings per share available to common shareholders also rising by 134% to $1.68. The company reported a combined ratio of 84.9, improved from 89.0 the previous year, indicating a more efficient underwriting process. Additionally, total policies in force grew by 17%, highlighting significant increases in various lines such as personal and commercial auto insurance. Overall, the results reflect Progressive's strong market position and ongoing growth in the insurance sector.
Potential Positives
- Net premiums written increased by 11% compared to the previous year, indicating strong growth in business.
- Net income saw a significant increase of 134%, reflecting improved profitability for the company.
- The combined ratio improved by 4.1 percentage points, suggesting enhanced operational efficiency and reduced loss ratio.
- The total number of policies in force rose by 17%, indicating an expansion of customer base and market presence.
Potential Negatives
- Despite a significant increase in net income, the company reported a slight pretax net realized loss on securities for the month, which may raise concerns about its investment strategy.
- The combined ratio improved year-over-year, but the low value suggests potential challenges in underwriting performance, indicating a need for continued scrutiny of operational efficiencies.
- While policies in force grew, the growth rate could indicate increased competition and pressure on market share in the personal insurance sector.
FAQ
What are the key financial results for Progressive in April 2025?
Progressive reported net premiums written of $6,837 million, net premiums earned of $6,641 million, and a net income of $986 million.
How did Progressive's net income change compared to last year?
Net income increased by 134% from $421 million in April 2024 to $986 million in April 2025.
What is the combined ratio for Progressive in April 2025?
The combined ratio for Progressive in April 2025 is 84.9, down from 89.0 in the previous year.
How many policies were in force for Progressive's personal lines?
As of April 30, 2025, Progressive had 35,479 policies in force for personal lines, a 17% increase from the previous year.
What services does Progressive Insurance offer?
Progressive offers car, home, motorcycle, and boat insurance, along with various protection options for personal and commercial needs.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PGR Insider Trading Activity
$PGR insiders have traded $PGR stock on the open market 24 times in the past 6 months. Of those trades, 0 have been purchases and 24 have been sales.
Here’s a breakdown of recent trading of $PGR stock by insiders over the last 6 months:
- JOHN P SAUERLAND (VP and Chief Financial Officer) has made 0 purchases and 7 sales selling 61,542 shares for an estimated $16,214,961.
- SUSAN PATRICIA GRIFFITH (President and CEO) has made 0 purchases and 2 sales selling 20,087 shares for an estimated $4,876,177.
- JEFFREY D KELLY sold 10,000 shares for an estimated $2,500,000
- PATRICK K CALLAHAN (Personal Lines President) sold 4,669 shares for an estimated $1,305,935
- JOHN JO MURPHY (Claims President) has made 0 purchases and 2 sales selling 3,938 shares for an estimated $956,097.
- LORI A NIEDERST (CRM President) sold 3,855 shares for an estimated $952,416
- KAREN BAILO (Commercial Lines President) has made 0 purchases and 2 sales selling 3,558 shares for an estimated $863,914.
- JONATHAN S. BAUER (Chief Investment Officer) has made 0 purchases and 2 sales selling 2,923 shares for an estimated $824,178.
- ANDREW J QUIGG (Chief Strategy Officer) has made 0 purchases and 2 sales selling 1,643 shares for an estimated $398,915.
- MARIANN WOJTKUN MARSHALL (Chief Accounting Officer) has made 0 purchases and 2 sales selling 776 shares for an estimated $188,565.
- DEVIN C JOHNSON sold 400 shares for an estimated $110,016
- CARL G JOYCE (Chief Accounting Officer) sold 360 shares for an estimated $99,419
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PGR Hedge Fund Activity
We have seen 929 institutional investors add shares of $PGR stock to their portfolio, and 854 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GQG PARTNERS LLC added 3,174,632 shares (+61.4%) to their portfolio in Q1 2025, for an estimated $898,452,602
- WELLINGTON MANAGEMENT GROUP LLP removed 2,814,487 shares (-44.0%) from their portfolio in Q1 2025, for an estimated $796,527,965
- CAPITAL WORLD INVESTORS added 2,422,886 shares (+38.0%) to their portfolio in Q1 2025, for an estimated $685,700,966
- JPMORGAN CHASE & CO added 2,357,486 shares (+15.0%) to their portfolio in Q1 2025, for an estimated $667,192,112
- MORGAN STANLEY added 2,051,148 shares (+22.8%) to their portfolio in Q1 2025, for an estimated $580,495,395
- DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN added 1,693,735 shares (+215.3%) to their portfolio in Q1 2025, for an estimated $479,343,942
- FMR LLC added 1,414,411 shares (+13.8%) to their portfolio in Q1 2025, for an estimated $400,292,457
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$PGR Analyst Ratings
Wall Street analysts have issued reports on $PGR in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Wells Fargo issued a "Overweight" rating on 05/07/2025
- Morgan Stanley issued a "Overweight" rating on 12/13/2024
To track analyst ratings and price targets for $PGR, check out Quiver Quantitative's $PGR forecast page.
Full Release
MAYFIELD VILLAGE, OHIO, May 21, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended April 30, 2025:
| April | |||||||||||
| (millions, except per share amounts and ratios; unaudited) |
2025
|
2024
|
Change | ||||||||
| Net premiums written | $ | 6,837 | $ | 6,178 | 11 | % | |||||
| Net premiums earned | $ | 6,641 | $ | 5,575 | 19 | % | |||||
| Net income | $ | 986 | $ | 421 | 134 | % | |||||
| Per share available to common shareholders | $ | 1.68 | $ | 0.72 | 134 | % | |||||
| Total pretax net realized gains (losses) on securities | $ | (3 | ) | $ | (267 | ) | (99 | ) | % | ||
| Combined ratio | 84.9 | 89.0 | (4.1 | ) | pts. | ||||||
| Average diluted equivalent common shares | 587.7 | 587.4 | 0 | % | |||||||
| April 30, | |||||
|
(thousands; unaudited)
|
2025 | 2024 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 10,246 | 8,720 | 18 | ||
| Direct – auto | 14,938 | 12,105 | 23 | ||
| Special lines | 6,705 | 6,153 | 9 | ||
| Property | 3,590 | 3,261 | 10 | ||
| Total Personal Lines | 35,479 | 30,239 | 17 | ||
| Commercial Lines | 1,174 | 1,108 | 6 | ||
| Companywide | 36,653 | 31,347 | 17 | ||
See Progressive’s complete monthly earnings release for additional information.
About Progressive
Progressive Insurance ® makes it easy to understand, buy and use car insurance , home insurance , and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com , by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle , and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price ® , Snapshot ® , and HomeQuote Explorer ® .
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.
Company Contact:
Douglas S. Constantine
(440) 395-3707
[email protected]
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com
Download PDF: Progressive April 2025 Complete Earnings Release
