Progressive gaps up on Q3 earnings beat
The Progressive Corporation (PGR) is up 4.0% Tuesday morning. The company reported third-quarter earnings of $1.57 per share, easily topping the $1.18 forecast. Progressive announced that net premiums written in the quarter of $8.6 billion, up 20% and better than the $8.41 billion analysts expected.
The Progressive Corporation (PGR) is an insurance provider.
Prologis, Inc. (PLD) and Adobe Inc. (ADBE) top the list of other companies with positive news today, while BlackRock, Inc. (BLK) and Comerica Incorporated (CMA) top the list of companies with negative news.
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About Progressive Corporation (The)
Progressive underwrites private and commercial auto insurance and specialty lines; it has roughly 20 million policies in force and is the fourth- largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the Internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company entered homeowners insurance through an acquisition in 2015.