Why Progressive Stock Tumbled by Almost 6% Today
Insurance sector mainstay (NYSE: PGR) wasn't feeling like a safe investment on Wednesday. Investors sold out of the stock to leave it with a nearly 6% price decline on the day, following the company's latest quarterly earnings release. The benchmark S 500 index did much better, closing the session 0.4% higher.
For its third quarter, Progressive's net premiums written rose by 10% year over year to just under $21.4 billion. Generally accepted accounting principles (GAAP) net income also saw a double-digit gain, rising 12% to $2.6 billion, or $4.45 per share.
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Source Fool.com
Progressive Corp. Aktie
197,30 €
-1,66 %
Die Community unterstützt Progressive Corp. stark, mit vielen Buy- und wenigen Sell-Einschätzungen.
Ein Kursziel von 285 € für Progressive Corp. könnte zu einer Steigerung von mehr als 20% gegenüber dem aktuellen Kurs von 197.3 € führen.
