{"id":12236,"date":"2023-08-16T14:55:57","date_gmt":"2023-08-16T14:55:57","guid":{"rendered":"https:\/\/isafespend.com\/investing\/progressive-leads-sp-500-stocks-after-impressive-july-performance\/"},"modified":"2023-08-16T14:55:58","modified_gmt":"2023-08-16T14:55:58","slug":"progressive-leads-sp-500-stocks-after-impressive-july-performance","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=12236","title":{"rendered":"Progressive leads S&P 500 stocks after impressive July performance"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance<\/span>
\n<\/i>\n<\/div>\n

Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning after it reported strong July results. The stock surged by as much as 9% after results were published, making it the top gainer in the index.<\/p>\n

Progressive reported July net premiums written of $5.95 billion, an increase of 21% compared to last year. Total policies in force increased by 11% and combined ratio, a measure of profitability, was 90.6, up 0.8 points from last year.<\/p>\n

Commenting on the company\u2019s performance, analysts from Keefe, Bruyette & Woods said, \u201cWe expect the broad outperformance to drive the shares up today \u2026 PGR’s July operating EPS of $0.90 solidly beat our projected $0.41, reflecting outperformance in every combined ratio component. Personal auto PIF growth was +14.0%, slightly below June\u2019s +14.4%.\u201d<\/p>\n

Roth MKM analysts also commented on the stock, saying, \u201cWe believe the company easily beat all estimates for the month ..Underwriting results were excellent with a reported calendar year combined ratio of 90.8%, well below its target of 96%. After six months of unfavorable loss reserve development, July was a favorable $28.5 million.”<\/p>\n

They added, “Total personal auto came in at 90.8% consisting of a loss ratio of 76.1% and an expense ratio of 14.7%. The loss ratio is still elevated to where the company likely aims for, but we think there is still plenty of higher rate business that has not been earned yet. Meanwhile, its expense ratio is below where it normally is with advertising expense, well below where it normally sits. However, year-over-year personal auto policies grew 14%.\u201d<\/p>\n

Progressive shares traded at $135.5. in the middle of its year-to-date range of $111.4 to $149.9.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning after it reported strong July results. The stock surged by as much as 9% after results were published, making it the top gainer in the index. Progressive reported July net premiums written of $5.95 billion, an<\/p>\n","protected":false},"author":1,"featured_media":11825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-12236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nProgressive leads S&P 500 stocks after impressive July performance | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=12236\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Progressive leads S&P 500 stocks after impressive July performance | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=12236\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-16T14:55:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-16T14:55:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/LYNXNPEB7Q0U9_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"552\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=12236#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=12236\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Progressive leads S&P 500 stocks after impressive July performance\",\"datePublished\":\"2023-08-16T14:55:57+00:00\",\"dateModified\":\"2023-08-16T14:55:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=12236\"},\"wordCount\":280,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=12236#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=12236\",\"url\":\"https:\/\/isafespend.com\/?p=12236\",\"name\":\"Progressive leads S&P 500 stocks after impressive July performance | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-08-16T14:55:57+00:00\",\"dateModified\":\"2023-08-16T14:55:58+00:00\",\"description\":\"\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=12236#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=12236\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=12236#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Progressive leads S&P 500 stocks after impressive July performance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Progressive leads S&P 500 stocks after impressive July performance | iSafeSpend","description":"\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=12236","og_locale":"en_US","og_type":"article","og_title":"Progressive leads S&P 500 stocks after impressive July performance | iSafeSpend","og_description":"\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning","og_url":"https:\/\/isafespend.com\/?p=12236","og_site_name":"iSafeSpend","article_published_time":"2023-08-16T14:55:57+00:00","article_modified_time":"2023-08-16T14:55:58+00:00","og_image":[{"width":800,"height":552,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/LYNXNPEB7Q0U9_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=12236#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=12236"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Progressive leads S&P 500 stocks after impressive July performance","datePublished":"2023-08-16T14:55:57+00:00","dateModified":"2023-08-16T14:55:58+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=12236"},"wordCount":280,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=12236#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=12236","url":"https:\/\/isafespend.com\/?p=12236","name":"Progressive leads S&P 500 stocks after impressive July performance | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-08-16T14:55:57+00:00","dateModified":"2023-08-16T14:55:58+00:00","description":"\u00a9 Reuters. Progressive (PGR) leads S&P 500 stocks after impressive July performance Shares of Progressive Corp.\u00a0(NYSE:) climbed Wednesday morning","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=12236#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=12236"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=12236#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Progressive leads S&P 500 stocks after impressive July performance"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/12236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12236"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/12236\/revisions"}],"predecessor-version":[{"id":12237,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/12236\/revisions\/12237"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/11825"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}