Earnings Insight - The Progressive

LONDON, October 14, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings insight on The Progressive Corp. (NYSE: PGR). On October 10, 2014, the company reported its financial results for Q3 FY14 with a net income growth of 27% on a Y-o-Y basis. Click on www.investor-edge.com/FreeReports to read our free earnings review on The Progressive. Further, the company's Q3 FY14 EPS surged 30% from the preceding year quarter. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview  

During Q3 FY14, The Progressive Corp.'s net income broadened to $296.1 million, or $0.50 per share, from $232.4 million, or $0.39 per share in the same period last year. The company's   reported quarter's net income outperformed Bloomberg analysts' forecast of $276.8 million, or $0.46 per share. Further, the company's net premiums written increased 6% to $4,732.3 million in Q3 FY14, from $4,454.6 million in the year ago quarter. Net premiums earned for Q3 FY14 also increased 6% to $4,540.1 million, from $4,303.0 million in the corresponding period last year. Additionally, the company's total pretax net realized gains on securities (including net impairment losses), for the third quarter of 2014 were $38.2 million, up 37% compared to $27.9 million in the prior year's third quarter. The combined ratio for Q3 FY14 stood at 92.5 points as compared to 94.2 points in Q3 FY13. The free research on PGR can be downloaded as in PDF format at:

www.Investor-Edge.com/PGRFreeReport

The Progressive Corp. also reported net income of $92.0 million, or $0.16 per share, for the month of September 2014, compared to $61.8 million, or $0.10 per share, in the same month a year ago. Combined ratio for September 2014 was 93.3 points, compared to 94.9 points in September 2013. Total personal auto policies for September 2014 increased 2% to 9.24 million, from 9.01 million in September 2013. Further, total special lines policies grew 1% to 4.08 million in September 2014, from 4.04 million in the same period last year. However, total commercial lines policies fell by 1% Y-o-Y to 0.52 million during September 2014. The company will be proving more details on October 30, 2014 through a conference call. Sign up and read the free analyst's notes on PGR at:

www.Investor-Edge.com/PGR-14102014

Stock Performance 

On the day of the earnings release, October 10, 2014, The Progressive Corp.'s stock fell by 1.07% and ended the session at $25.00, and on the last close, Monday, October 13, 2014, it finished at $24.81, down 0.76%. The stock vacillated between $24.79 and $25.14 during the session. A total of 4.76 million shares were traded, which was above its three months average volume of 3.54 million shares. Over the past three trading sessions and last one month, the company's shares have fallen by 3.27% and 1.00%, respectively. Also, the stock has declined 5.12% from the beginning of 2014. The Progressive Corp.'s shares are trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $24.84 is greater than its 200-day moving average of $24.55. Furthermore, the stock traded at a PE ratio of 14.34 and has a Relative Strength Index (RSI) of 45.40. Visit Investor-Edge and access the latest research on PGR at:

www.Investor-Edge.com/PGREarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month The Progressive Corp. has reported one insider transaction. On September 16, 2014, Thomas A. King, Vice President and Treasurer at The Progressive Corp., sold 103,737 shares of the company at price of $25.18 per share, for a total consideration of $2,611,710. Complimentary in-depth research on PGR is available at:

www.Investor-Edge.com/PGRInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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