Progressive Corporation reports significant growth in January 2025, with increased net premiums and net income compared to January 2024.
Quiver AI Summary
The Progressive Corporation reported significant financial growth for January 2025, with net premiums written increasing by 18% to $6.481 billion and net premiums earned rising by 22% to $6.586 billion compared to January 2024. The company also saw a 59% increase in net income, reaching $1.117 billion, and earnings per share grew by 61% to $1.90. Additionally, Progressive's combined ratio improved to 84.1, down from 87.3. The number of policies in force across personal and commercial lines grew by 18%, reflecting strong performance in the auto and property insurance sectors. Overall, Progressive continues to be a leading provider in the insurance industry, offering a variety of products and services to consumers.
Potential Positives
- Significant increase in net premiums written, rising by 18% from the previous year, indicating strong sales growth.
- Net income saw a substantial increase of 59%, which enhances the company’s profitability outlook.
- Net income per share available to common shareholders increased by 61%, reflecting positive shareholder returns.
- Improvement in the combined ratio to 84.1 from 87.3, showcasing better operational efficiency and underwriting performance.
Potential Negatives
- Despite strong year-over-year growth in net premiums written and earned, the press release does not provide specific details on the sustainability of this growth, which may raise concerns among investors about potential future performance.
- The document lacks a comprehensive discussion about any challenges or risks the company may be facing in the current market, which could lead to uncertainty for shareholders.
- While the combined ratio improved, the absence of insights on how the company plans to address any underlying issues contributing to this ratio could indicate a lack of strategic foresight.
FAQ
What were Progressive Corporation's net premiums written for January 2025?
Progressive Corporation reported net premiums written of $6,481 million for January 2025, an 18% increase from the previous year.
How much net income did Progressive report for January 2025?
The company reported net income of $1,117 million for January 2025, which is a 59% increase compared to January 2024.
What is the combined ratio for Progressive in January 2025?
Progressive reported a combined ratio of 84.1 for January 2025, improving by 3.2 percentage points from the previous year.
How many policies were in force for Progressive as of January 31, 2025?
As of January 31, 2025, Progressive had a total of 35,327 policies in force, an 18% increase over the previous year.
Where can I find additional information about Progressive Insurance?
Additional information can be found on Progressive’s website at progressive.com or by contacting investor relations at [email protected].
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 Congressional Stock Trading
Members of Congress have traded $PGR stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $PGR stock by members of Congress over the last 6 months:
- REPRESENTATIVE JULIE JOHNSON purchased up to $15,000 on 01/24.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$PGR Insider Trading Activity
$PGR insiders have traded $PGR stock on the open market 20 times in the past 6 months. Of those trades, 0 have been purchases and 20 have been sales.
Here’s a breakdown of recent trading of $PGR stock by insiders over the last 6 months:
- SUSAN PATRICIA GRIFFITH (President and CEO) has made 0 purchases and 3 sales selling 63,457 shares for an estimated $15,814,091.
- JOHN P SAUERLAND (VP and Chief Financial Officer) has made 0 purchases and 3 sales selling 30,000 shares for an estimated $7,534,400.
- JEFFREY D KELLY sold 10,000 shares for an estimated $2,500,000
- PATRICK K CALLAHAN (Personal Lines President) sold 7,696 shares for an estimated $1,964,096
- STEVEN BROZ (Chief Information Officer) has made 0 purchases and 2 sales selling 5,963 shares for an estimated $1,523,998.
- 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.
- DYKE KAHINA VAN sold 2,180 shares for an estimated $549,970
- 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.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PGR Hedge Fund Activity
We have seen 818 institutional investors add shares of $PGR stock to their portfolio, and 761 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 4,685,566 shares (+9.8%) to their portfolio in Q4 2024, for an estimated $1,122,708,469
- WELLINGTON MANAGEMENT GROUP LLP removed 3,324,110 shares (-34.2%) from their portfolio in Q4 2024, for an estimated $796,489,997
- JPMORGAN CHASE & CO added 2,260,562 shares (+16.8%) to their portfolio in Q4 2024, for an estimated $541,653,260
- GQG PARTNERS LLC added 2,085,833 shares (+67.6%) to their portfolio in Q4 2024, for an estimated $499,786,445
- CAPITAL RESEARCH GLOBAL INVESTORS added 1,547,677 shares (+34.3%) to their portfolio in Q4 2024, for an estimated $370,838,885
- VIKING GLOBAL INVESTORS LP removed 1,312,172 shares (-37.6%) from their portfolio in Q4 2024, for an estimated $314,409,532
- ARTISAN PARTNERS LIMITED PARTNERSHIP removed 1,004,473 shares (-20.2%) from their portfolio in Q4 2024, for an estimated $240,681,775
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MAYFIELD VILLAGE, OHIO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended January 31, 2025:
| January | |||||||||
| (millions, except per share amounts and ratios; unaudited) | 2025 | 2024 | Change | ||||||
| Net premiums written | $ | 6,481 | $ | 5,496 | 18 | % | |||
| Net premiums earned | $ | 6,586 | $ | 5,386 | 22 | % | |||
| Net income | $ | 1,117 | $ | 701 | 59 | % | |||
| Per share available to common shareholders | $ | 1.90 | $ | 1.18 | 61 | % | |||
| Total pretax net realized gains (losses) on securities | $ | 109 | $ | 17 | NM | ||||
| Combined ratio | 84.1 | 87.3 | (3.2 | ) | pts. | ||||
| Average diluted equivalent common shares | 587.7 | 587.3 | 0 | % | |||||
| NM = Not Meaningful | |||||||||
| January 31, | |||||
|
(thousands; unaudited)
|
2025 | 2024 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 9,882 | 8,393 | 18 | ||
| Direct – auto | 14,224 | 11,350 | 25 | ||
| Special lines | 6,540 | 5,984 | 9 | ||
| Property | 3,535 | 3,128 | 13 | ||
| Total Personal Lines | 34,181 | 28,855 | 18 | ||
| Commercial Lines | 1,146 | 1,096 | 5 | ||
| Companywide | 35,327 | 29,951 | 18 | ||
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 January 2025 Complete Earnings Release
