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Marshall Mariann Wojtkun, the Chief Accounting Officer at Progressive Corp (NYSE:PGR), recently sold 191 shares of the company’s common stock. The shares were sold at an average price of $242.10, totaling approximately $46,241. Following this transaction, Wojtkun retains direct ownership of 3,981.545 shares. Additionally, Wojtkun holds 8,200.91 shares indirectly through a 401(k) plan. This transaction was part of a pre-arranged 10b5-1 trading plan established on August 19, 2024.
In other recent news, Progressive Corp. has been a focal point of recent analyst reports. Raymond (NS:RYMD) James upgraded Progressive's stock rating from Market Perform to Outperform, with a positive outlook on the company's growth prospects. The firm also anticipates Progressive to lead in policy-in-force growth and achieve better-than-target combined ratios. BMO Capital maintained its Outperform rating on Progressive, despite trimming its price target from $273 to $267. This adjustment followed a rebound in Progressive's performance, attributed to better core loss ratios and reduced estimated losses from Hurricanes Helene and Milton.
Progressive Corp. reported impressive financial results for November, with an 18% increase in net premiums written, reaching $5.56 billion. Net premiums earned rose to $6.04 billion, up 19% from the previous year. The company's net income surged by 48% to $1.01 billion, while earnings per share grew from $1.15 to $1.71. Progressive's combined ratio, a key profitability measure, improved from 91.1% to 85.6%.
In other company news, fellow insurance companies GEICO and Travelers (NYSE:TRV) faced fines totaling $11.3 million for inadequate cybersecurity measures. These recent developments provide investors with a comprehensive view of Progressive's performance and the broader insurance industry landscape.
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