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Progressive (PGR)

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto 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®.

Company profile

Ticker
PGR
Exchange
CEO
Susan Griffith
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
ARX Holding Corp. • American Strategic Insurance Corp. • Ark Royal Underwriters, LLC • ASI Assurance Corp. • ASI Home Insurance Corp. • ASI Lloyds, Inc. • ASI Preferred Insurance Corp. • ASI Select Auto Insurance Corp. • ASI Select Insurance Corp. • ASI Underwriters Corp. ...
IRS number
340963169

PGR stock data

Calendar

2 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 May 22 Mascaro Daniel P Common Stock Sell Dispose S No Yes 112.94 558 63.02K 38,886.884
16 May 22 Bleser Philip Common Stock Grant Acquire A No No 0 2,962 0 2,962
16 May 22 Davis Charles A Common Stock Grant Acquire A No No 0 2,962 0 332,647
16 May 22 Farah Roger N Common Stock Grant Acquire A No No 0 3,098 0 10,637.389
16 May 22 Fitt Lawton W Common Stock Grant Acquire A No No 0 4,739 0 14,128
82.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1037 1037
Opened positions 102 159 -35.8%
Closed positions 102 86 +18.6%
Increased positions 360 354 +1.7%
Reduced positions 414 379 +9.2%
13F shares Current Prev Q Change
Total value 55.27B 64.73B -14.6%
Total shares 484.89M 490.23M -1.1%
Total puts 1.35M 2.41M -44.0%
Total calls 1.21M 1.75M -30.8%
Total put/call ratio 1.1 1.4 -19.1%
Largest owners Shares Value Change
Vanguard 48.45M $5.52B +2.6%
BLK Blackrock 44.45M $5.07B -2.9%
Wellington Management 33.24M $3.79B +17.6%
STT State Street 27M $3.08B -0.7%
JPM JPMorgan Chase & Co. 24.94M $2.84B -4.2%
Massachusetts Financial Services 16.21M $1.85B -0.2%
Geode Capital Management 10.55M $1.2B +6.3%
BAC Bank Of America 10.37M $1.18B +5.2%
Artisan Partners Limited Partnership 9.38M $1.07B +35.0%
Capital World Investors 9M $1.03B +0.5%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -5.46M EXIT
Wellington Management 33.24M +4.98M +17.6%
Artisan Partners Limited Partnership 9.38M +2.43M +35.0%
FMR 7.74M +2.22M +40.2%
Amundi 5.53M +1.7M +44.4%
BLK Blackrock 44.45M -1.34M -2.9%
Ceredex Value Advisors 695.19K -1.28M -64.7%
Vanguard 48.45M +1.25M +2.6%
Victory Capital Management 4.14M +1.24M +43.0%
Alliancebernstein 7.59M -1.23M -14.0%

Financial report summary

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Competition
NI
Risks
  • Our success depends on our ability to establish accurate loss reserves.
  • Our insurance operating results have been and will likely continue to be materially adversely affected by severe weather or other catastrophe events, and climate change may be exacerbating these impacts.
  • Our success will depend on our ability to continue to accurately predict our reinsurance needs, obtain sufficient reinsurance coverage for our Property and other businesses at reasonable cost, and collect under our reinsurance contracts.
  • We compete in property and casualty insurance markets that are highly competitive.
  • Our success depends on our ability to innovate effectively and respond to our competitors’ initiatives.
  • We must effectively manage complexity as we develop and deliver high-quality products and customer experiences.
  • Intellectual property rights could affect our competitiveness and our business operations.
  • Our success depends on our ability to adjust claims accurately.
  • We must maintain a brand that is recognized and trusted by consumers.
  • Our ability to attract, develop, and retain talent, including employees, managers, and executives, and to maintain appropriate staffing levels, is critical to our success.
  • We are subject to a variety of complex laws and regulations.
  • Lawsuits challenging our business practices, and those of our competitors and other companies, are pending and more may be filed in the future.
  • Our business could be materially adversely affected by a security breach or other attack involving our computer systems or the systems of one or more of our vendors.
  • Our business depends on the secure and uninterrupted operation of our facilities, systems, and business functions and the operation of various third-party systems.
  • Efforts to acquire or develop new products or enter new areas of business may not be successful and may create enhanced risks.
  • If we were not able to send or accept electronic payments, our business and financial results could be adversely affected.
  • We may be required to recognize impairments in the value of the goodwill or intangible assets recorded in our financial statements.
  • The performance of our fixed-income and equity investment portfolios is subject to a variety of investment risks.
  • New regulations and societal pressures relating to environmental, social, and other public policy matters could negatively impact our returns or cause us to change our investing strategies in ways that could negatively impact our results.
  • The elimination of the London Interbank Offered Rate (LIBOR) may adversely affect the interest rates on and value of certain floating rate securities and other instruments that we hold.
  • The inability to access our cash accounts or to convert investments into cash on favorable terms when we desire to do so may materially and adversely affect our business.
  • Our financial condition may be adversely affected if one or more parties with which we enter into significant contracts or transact business (including under certain government programs) become insolvent, experience other financial difficulties, or default in the performance of contractual or reimbursement obligations.
  • Our insurance subsidiaries may be limited in the amount of dividends that they can pay, which in turn may limit our ability to repay indebtedness, make capital contributions to other subsidiaries or affiliates, pay dividends to shareholders, repurchase securities, or meet other obligations.
  • The terms of our outstanding preferred shares prohibit us from paying a dividend on our common shares in certain circumstances.
  • If we are unable to obtain capital when necessary to support our business, our financial condition, and our ability to grow could be materially adversely affected.
  • Our access to capital markets, ability to obtain or renew financing arrangements, obligations to post collateral under certain derivative contracts, and business operations are dependent on favorable evaluations and ratings by credit and other rating agencies.
  • Our dividend policy may result in varying amounts being paid to our common shareholders, or no payment in some periods, and the dividend policy ultimately may be changed in the discretion of the Board of Directors.
  • Our investments in certain tax-advantaged projects may not generate the anticipated tax benefits and related returns.
  • The outbreak of the novel coronavirus, or COVID-19, and the restrictions put in place to help slow and/or stop the spread of the virus and its variants, could materially adversely affect our business and results of operations.
  • Our goal is to maximize the long-term value of the enterprise and we do not manage to short-term earnings expectations, which may adversely affect short-term results.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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