The insurance company said net premiums written grew 5% from the year-ago period to $1.88 billion in April. Net premiums increased 6% to $1.73 billion in the month. Earnings grew to 26 cents a share from 23 cents a share in April 2013.
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- Despite its growing revenue, the company underperformed as compared with the industry average of 7.4%. Since the same quarter one year prior, revenues slightly increased by 6.1%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- Although PGR's debt-to-equity ratio of 0.29 is very low, it is currently higher than that of the industry average.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Insurance industry and the overall market, PROGRESSIVE CORP-OHIO's return on equity exceeds that of both the industry average and the S&P 500.
- PROGRESSIVE CORP-OHIO has improved earnings per share by 5.9% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, PROGRESSIVE CORP-OHIO increased its bottom line by earning $1.94 versus $1.48 in the prior year. For the next year, the market is expecting a contraction of 18.6% in earnings ($1.58 versus $1.94).
- The company, on the basis of net income growth from the same quarter one year ago, has significantly underperformed against the S&P 500 and did not exceed that of the Insurance industry. The net income increased by 4.1% when compared to the same quarter one year prior, going from $308.60 million to $321.30 million.
- You can view the full analysis from the report here: PGR Ratings Report
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