This Insurance Stock Is Up 20% This Year. Here's Why It's Still a Buy.
Earnings season has arrived, and (NYSE: PGR) is one stock off to a hot start. After falling short the past few quarters, the company posted strong results that exceeded Wall Street's earnings and revenue forecasts.
Progressive is a high-quality insurance company with a history of market-beating results and an ability to adapt to a challenging environment for property and casualty insurers. The stock rose after the company's earning report and is now up more than 20% year to date. Here's why it's not too late for investors to get in on this dependable stock.
Insurance companies have faced their share of challenges in recent years. For one, insurers have seen rising and more severe natural catastrophes. According to a report by insurer Swiss Re, 285 natural catastrophes last year caused $284 billion in damage, well above the 10-year average of $220 billion.
Source Fool.com
Progressive Corp. Stock
With 30 Buy predictions and 3 Sell predictions Progressive Corp. is one of the favorites of our community.
As a result the target price of 217 € shows a slightly positive potential of 11.89% compared to the current price of 193.94 € for Progressive Corp..
