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25.81 (1y: +19%)
Market Cap 15.58 B P/E(ttm) 16.50
Enterprise Value 15.58 B P/B 2.60
PGR- NYSE (USA)
Progressive Corporation
  • Currently 1/5
Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$25.81
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry		 vs
history
Cash to Debt 0.087
PGR's Cash to Debt is ranked lower than
1030927% of the 97 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 3.65 vs. PGR: 0.087 )
PGR' s 10-Year Cash to Debt Range
Min: 0   Max: 0.09
Current: 0.09
0
0.09
Equity to Asset 0.265
PGR's Equity to Asset is ranked lower than
1052631% of the 95 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 0.25 vs. PGR: 0.265 )
PGR' s 10-Year Equity to Asset Range
Min: 0.23   Max: 0.35
Current: 0.27
0.23
0.35
Interest Coverage 10.6
PGR's Interest Coverage is ranked lower than
1204818% of the 83 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 25.20 vs. PGR: 10.6 )
PGR' s 10-Year Interest Coverage Range
Min: 1   Max: 33
Current: 10.6
1
33
F-Score: 6
Z-Score: 1.69
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry		 vs
history
Operating margin (%) 7.70
PGR's Operating margin (%) is ranked lower than
1204818% of the 83 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 10.40 vs. PGR: 7.70 )
PGR' s 10-Year Operating margin (%) Range
Min: -1.7   Max: 18.4
Current: 7.7
-1.7
18.4
Net-margin (%) 5.3
PGR's Net-margin (%) is ranked lower than
1149424% of the 87 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 7.40 vs. PGR: 5.3 )
PGR' s 10-Year Net-margin (%) Range
Min: -0.5   Max: 12
Current: 5.3
-0.5
12
ROE (%) 15
PGR's ROE (%) is ranked lower than
1162790% of the 86 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 9.20 vs. PGR: 15 )
PGR' s 10-Year ROE (%) Range
Min: -1.7   Max: 32
Current: 15
-1.7
32
ROA (%) 4
PGR's ROA (%) is ranked lower than
1162790% of the 86 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 2.40 vs. PGR: 4 )
PGR' s 10-Year ROA (%) Range
Min: -0.4   Max: 9.6
Current: 4
-0.4
9.6
ROC (Joel Greenblatt) (%) 174.60
PGR's ROC (Joel Greenblatt) (%) is ranked lower than
5555550% of the 18 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 320.70 vs. PGR: 174.60 )
PGR' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -22.4   Max: 391.6
Current: 174.6
-22.4
391.6
Revenue Growth (%) 6.7
PGR's Revenue Growth (%) is ranked lower than
1449274% of the 69 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 8.00 vs. PGR: 6.7 )
PGR' s 10-Year Revenue Growth (%) Range
Min: 1.6   Max: 17.7
Current: 6.7
1.6
17.7
EBITDA Growth (%) -0.8
PGR's EBITDA Growth (%) is ranked lower than
2777775% of the 36 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 11.50 vs. PGR: -0.8 )
PGR' s 10-Year EBITDA Growth (%) Range
Min: -52.9   Max: 103.1
Current: -0.8
-52.9
103.1
EPS Growth (%) -1.5
PGR's EPS Growth (%) is ranked lower than
2702700% of the 37 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 10.80 vs. PGR: -1.5 )
PGR' s 10-Year EPS Growth (%) Range
Min: -7   Max: 128.7
Current: -1.5
-7
128.7
» PGR's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

PGR Guru Trades in Q2 2012

Jeremy Grantham 122,700 sh (New)
Lee Ainslie 5,389,463 sh (+122.11%)
Pioneer Investments 928,875 sh (+10.81%)
Steven Cohen 46,375 sh (+10.3%)
Murray Stahl 35,600 sh (unchged)
Ruane Cunniff 148,349 sh (-0.07%)
Tom Russo 115,810 sh (-2.03%)
Chris Davis 58,015,440 sh (-4.82%)
PRIMECAP Management 3,361,435 sh (-9.45%)
» More
Q3 2012

PGR Guru Trades in Q3 2012

Jim Simons 149,400 sh (New)
Ken Fisher 378,235 sh (New)
Sarah Ketterer 526,200 sh (New)
Pioneer Investments 1,183,060 sh (+27.36%)
Steven Cohen 51,098 sh (+10.18%)
Murray Stahl 35,967 sh (+1.03%)
Jeremy Grantham 123,200 sh (+0.41%)
Ruane Cunniff 145,474 sh (-1.94%)
Chris Davis 56,313,394 sh (-2.93%)
Tom Russo 111,210 sh (-3.97%)
PRIMECAP Management 2,210,200 sh (-34.25%)
Lee Ainslie 2,796,854 sh (-48.11%)
» More
Q4 2012

PGR Guru Trades in Q4 2012

John Hussman 1,500,000 sh (New)
Diamond Hill Capital 2,953,687 sh (New)
Sarah Ketterer 915,700 sh (+74.02%)
Ken Fisher 403,351 sh (+6.64%)
Pioneer Investments 1,223,279 sh (+3.4%)
Murray Stahl 36,859 sh (+2.48%)
Jeremy Grantham 136,200 sh (unchged)
Lee Ainslie Sold Out
Jim Simons Sold Out
Ruane Cunniff 144,867 sh (-0.42%)
Tom Russo 104,686 sh (-5.87%)
Chris Davis 50,531,368 sh (-10.27%)
Steven Cohen 10,563 sh (-79.33%)
PRIMECAP Management 23,300 sh (-98.95%)
» More
Q1 2013

PGR Guru Trades in Q1 2013

Ray Dalio 109,656 sh (New)
Steven Cohen 27,128 sh (+156.82%)
Diamond Hill Capital 5,439,434 sh (+84.16%)
Jeremy Grantham 143,800 sh (+5.58%)
Ken Fisher 414,956 sh (+2.88%)
Louis Moore Bacon 100,000 sh (unchged)
John Hussman Sold Out
PRIMECAP Management Sold Out
Sarah Ketterer Sold Out
Ruane Cunniff 143,794 sh (-0.74%)
Murray Stahl 36,509 sh (-0.95%)
Chris Davis 49,683,173 sh (-1.68%)
Tom Russo 96,611 sh (-7.71%)
Pioneer Investments 649,344 sh (-46.92%)
» More
» Details

Insider Trades

Latest Guru Trades with PGR

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
John Hussman 2013-03-31 Sold Out 0.83%$21.1 - $25.38 $ 25.839%0
Ray Dalio 2013-03-31 New Buy0.03%$21.1 - $25.38 $ 25.839%109656
PRIMECAP Management 2013-03-31 Sold Out $21.1 - $25.38 $ 25.839%0
John Hussman 2012-12-31 New Buy0.83%$20.85 - $23.08 $ 25.8318%1500000
Lee Ainslie 2012-12-31 Sold Out 0.77%$20.85 - $23.08 $ 25.8318%0
PRIMECAP Management 2012-12-31 Reduce -98.95%0.07%$20.85 - $23.08 $ 25.8318%23300
Lee Ainslie 2012-09-30 Reduce -48.11%0.77%$19.24 - $21.13 $ 25.8329%2796854
PRIMECAP Management 2012-09-30 Reduce -34.25%0.04%$19.24 - $21.13 $ 25.8329%2210200
Lee Ainslie 2012-06-30 Add 122.11%0.88%$20.31 - $23.14 $ 25.8319%5389463
Lee Ainslie 2012-03-31 Reduce -72.27%1.73%$19.26 - $23.18 $ 25.8329%2426447
Lee Ainslie 2011-12-31 Reduce -29.39%0.9%$17.28 - $19.63 $ 25.8339%8751750
Ray Dalio 2011-12-31 Sold Out 0.03%$17.28 - $19.63 $ 25.8339%0
Ray Dalio 2011-09-30 Reduce -49.4%0.03%$17.09 - $21.64 $ 25.8337%99046
John Hussman 2011-06-30 Sold Out $19.91 - $21.94 $ 25.8322%0
Lee Ainslie 2011-03-31 Add 103.47%1.48%$19.16 - $21.15 $ 25.8328%13153650
John Hussman 2011-03-31 New Buy0.22%$19.16 - $21.15 $ 25.8328%622000
Lee Ainslie 2010-12-31 Reduce -46.16%1.17%$19.62 - $21.97 $ 25.8324%6464810
Ruane Cunniff 2010-12-31 Reduce -23.68%0.01%$19.62 - $21.97 $ 25.8324%144697
Lee Ainslie 2010-09-30 Add 4.59%0.12%$18.62 - $21.42 $ 25.8329%12007515
Wallace Weitz 2010-09-30 Sold Out 0.03%$18.62 - $21.42 $ 25.8329%0
George Soros 2010-09-30 Sold Out 0.01%$18.62 - $21.42 $ 25.8329%0
Wallace Weitz 2010-06-30 Reduce -90.73%0.03%$18.81 - $20.86 $ 25.8330%30700
David Dreman 2010-06-30 Sold Out 0.01%$18.81 - $20.86 $ 25.8330%0
Lee Ainslie 2010-03-31 Add 29.77%0.64%$16.21 - $19.27 $ 25.8349%13658925
Wallace Weitz 2010-03-31 New Buy0.34%$16.21 - $19.27 $ 25.8349%331100
David Dreman 2010-03-31 New Buy0.01%$16.21 - $19.27 $ 25.8349%19576
George Soros 2010-03-31 Add 43.4%$16.21 - $19.27 $ 25.8349%15200
Premium More recent guru trades are included for Premium Members only!!

Top Ranked Articles about Progressive Corporation

Diamond Hill Capital Updates Portfolio for Q4 - Top Buys
January 31, 2013
Diamond Hill Capital - Diamond Hill Capital Updates Portfolio For Q4 - Top Buys
The firm Diamond Hill Capital employs a disciplined intrinsic value-based approach to investing with a long-term perspective, in the footsteps of Ben Graham and Warren Buffett. Based in Columbus, Ohio, it has $9.4 billion in assets under management. According to its most recent letter, from July 2012, Diamond Hill buys stock with a five-year time horizon in mind. In the fourth quarter they bought 11 new stocks, the largest of which were: TJX Companies (TJX), Progressive Corp. (PGR), HollyFrontier (HFC), Navigators Group (NAVG) and Hyster-Yale Materials Handling Inc. (HY). Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 16.50
PGR's P/E(ttm) is ranked lower than
1176469% of the 85 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 13.80 vs. PGR: 16.50 )
PGR' s 10-Year P/E(ttm) Range
Min: 9.8   Max: 4036.5
Current: 16.5
9.8
4036.5
P/B 2.60
PGR's P/B is ranked lower than
1020407% of the 98 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 1.01 vs. PGR: 2.60 )
PGR' s 10-Year P/B Range
Min: 1.35   Max: 4.2
Current: 2.6
1.35
4.2
P/S 0.90
PGR's P/S is ranked lower than
999999% of the 100 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 1.11 vs. PGR: 0.90 )
PGR' s 10-Year P/S Range
Min: 0.54   Max: 1.74
Current: 0.9
0.54
1.74
PFCF 9.80
PGR's PFCF is ranked lower than
1333332% of the 75 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 7.76 vs. PGR: 9.80 )
PGR' s 10-Year PFCF Range
Min: 4.51   Max: 13.93
Current: 9.8
4.51
13.93
EV-to-EBIT 11.2
PGR's EV-to-EBIT is ranked lower than
1162790% of the 86 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 11.80 vs. PGR: 11.2 )
PGR' s 10-Year EV-to-EBIT Range
Min: 7.1   Max: 321.4
Current: 11.2
7.1
321.4
Shiller P/E 18.6
PGR's Shiller P/E is ranked lower than
100% of the Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: vs. PGR: 18.6 )
PGR' s 10-Year Shiller P/E Range
Min: 6.53   Max: 34.11
Current: 18.6
6.53
34.11

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 1.10
PGR's Dividend Yield is ranked lower than
1333332% of the 75 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 2.20 vs. PGR: 1.10 )
PGR' s 10-Year Dividend Yield Range
Min: 0.04   Max: 2.33
Current: 1.1
0.04
2.33
Dividend Payout 0.181
PGR's Dividend Payout is ranked lower than
1515150% of the 66 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 0.32 vs. PGR: 0.181 )
PGR' s 10-Year Dividend Payout Range
Min: 0.02   Max: 0.43
Current: 0.18
0.02
0.43
Yield on cost (5-Year) 1.10
PGR's Yield on cost (5-Year) is ranked lower than
1298700% of the 77 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 2.48 vs. PGR: 1.10 )
PGR' s 10-Year Yield on cost (5-Year) Range
Min: 0.04   Max: 2.33
Current: 1.1
0.04
2.33
Share Buyback Rate 2.5
PGR's Share Buyback Rate is ranked lower than
2499998% of the 40 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 2.30 vs. PGR: 2.5 )
PGR' s 10-Year Share Buyback Rate Range
Min: 4.8   Max: 0.1
Current: 2.5

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 6.6
PGR's Price/Net Current Asset Value is ranked lower than
1428570% of the 70 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 6.60 vs. PGR: 6.6 )
PGR' s 10-Year Price/Net Current Asset Value Range
Min: 5.4   Max: 12.5
Current: 6.6
5.4
12.5
Price/Tangible Book 2.6
PGR's Price/Tangible Book is ranked lower than
1063829% of the 94 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 1.20 vs. PGR: 2.6 )
PGR' s 10-Year Price/Tangible Book Range
Min: 2.1   Max: 3.8
Current: 2.6
2.1
3.8
Price/DCF (Projected) 0.7
PGR's Price/DCF (Projected) is ranked lower than
1785713% of the 56 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 0.60 vs. PGR: 0.7 )
PGR' s 10-Year Price/DCF (Projected) Range
Min: 0.4   Max: 0.9
Current: 0.7
0.4
0.9
Price/Median PS Value 0.9
PGR's Price/Median PS Value is ranked lower than
1010100% of the 99 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 1.10 vs. PGR: 0.9 )
PGR' s 10-Year Price/Median PS Value Range
Min: 0.7   Max: 1.6
Current: 0.9
0.7
1.6
Price/Graham Number 1.4
PGR's Price/Graham Number is ranked lower than
1219511% of the 82 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 0.90 vs. PGR: 1.4 )
PGR' s 10-Year Price/Graham Number Range
Min: 1   Max: 4.5
Current: 1.4
1
4.5
Earnings Yield (Greenblatt) 8.90
PGR's Earnings Yield (Greenblatt) is ranked lower than
1162790% of the 86 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 8.20 vs. PGR: 8.90 )
PGR' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.3   Max: 14.1
Current: 8.9
0.3
14.1
Forward Rate of Return (Yacktman) 7.35
PGR's Forward Rate of Return (Yacktman) is ranked lower than
1960782% of the 51 Companies
in the Global Insurance - Property & Casualty industry.

( Industry Median: 10.91 vs. PGR: 7.35 )
PGR' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 8.7   Max: 155.5
Current: 7.35
8.7
155.5

Business Description

Progressive Corporation, an insurance holding company formed in 1965. It currently has 54 subsidiaries and 1 mutual insurance Company affiliate. The Company offers a number of personal and commercial property-casualty insurance products mainly related to motor vehicles. The Company's insurance subsidiaries and affiliate provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States. It writes private passenger auto insurance and the majority of its special lines products in all 50 states; it began writing auto and boat insurance in Massachusetts during 2008. It also writes private passenger auto in the District of Columbia. It writes commercial auto policies in 49 states; it does not currently write commercial auto in Hawaii or the District of Columbia. The Company's Personal Lines segment writes insurance for private passenger automobiles and recreational and other vehicles. This business generally offers more than one program in a single state, with each program targeted to a specific distribution channel, market, or customer group. The Company's specialty Personal Lines products include insurance for motorcycles, recreational vehicles, mobile homes, watercraft, snowmobiles, and similar items. The Personal Lines business is generated either by independent agents and brokers or written directly online or by phone. The Agency business includes business written by its network of more than 30,000 independent insurance agencies located throughout the United States, as well as brokerages in New York and California. The Agency business also writes through strategic alliance business relationships with other insurance companies, financial institutions, and national agencies. It also currently offers a personal umbrella insurance product in 24 states through certain independent agents and to direct business customers via telephone. The Commercial Auto business writes primary liability and physical damage insurance for automobiles and trucks owned by small businesses and represented approximately 13% of its total net premiums written for each of the last three years. The majority of its Commercial Auto customers insure three or fewer vehicles. The Commercial Auto business, which is mainly distributed through the independent agency channel, operates in the specialty truck and business auto markets. The specialty truck commercial auto market, which accounts for slightly more than half of its total Commercial Auto premiums and approximately 40% of the vehicles it insures in this business, includes dump trucks, logging trucks, tow trucks, local cartage, and other short-haul commercial vehicles. The Company's other indemnity businesses mainly include writing professional liability insurance for community banks, mainly directors and officers liability insurance. The Company's main service business is providing policy issuance and claims adjusting services f
Company Website
SEC Reports
Industry: Insurance - Property & Casualty
Compare:RLI, TRV, MBI, QBIEY, TKOMY
Traded in other countries:PGV.Germany
» More Articles for PGR

Headlines

Articles On GuruFocus.com
PRIMECAP Management Sells 11 – Wal-Mart, Kohl’s, Progressive May 23 2013 
Diamond Hill Capital Updates Portfolio for Q4: Top New Buys Jan 31 2013 
3 Of 13 Cheapest Shares with the Highest EPS Growth for Next Year by Dividend Dec 22 2012 
Berkshire Hathaway (BRK.B) Is Buying Its Stock – Should You? Dec 13 2012 
How to Apply the Shiller P/E to Individual Stocks Jun 27 2012 
52-Week High Companies: PGR, EC, LOW, MMC, BAP Apr 02 2012 
3 Insurance Stocks to Consider Now, 2 to Hold Mar 02 2012 
The Progressive Corp. Reports Operating Results (10-K) Mar 01 2011 
Ruane Cunniff Buys VRX, EOG, APOL, CNQ, INT, VALV, Sells CHK, JNJ, APEI, PGR, LBTYA, JOBS, CACC Feb 18 2011 
The Progressive Corp. Reports Operating Results (10-Q) Nov 08 2010 

More From Our Partners
Progressive Downgraded to Neutral - Analyst Blog May 20 2013 - ZACKS

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