The Progressive Corporation (NYSE:PGR) is one of the best stocks for a 20-year long-term stock portfolio. On August 20, William Blair analyst Adam Klauber reaffirmed his Buy rating on The Progressive Corporation (NYSE:PGR), citing solid financial execution and supportive market conditions. The company reported operating EPS of $1.85 for July, ahead of expectations, underscoring strong business momentum.
The Progressive Corporation (NYSE:PGR) also posted a notable improvement in its core auto loss ratio, reflecting disciplined cost control and relatively benign weather, which reduced catastrophe losses. The July combined ratio stood at 85%, well below both last year’s level and management’s target, highlighting resilient underwriting performance.
Although policy growth has slowed in personal auto, The Progressive Corporation’s (NYSE:PGR) earnings trajectory remains strong, giving confidence in longer-term upside potential. Klauber views the stock as well-positioned for growth despite near-term challenges from moderating volume trends.
The Progressive Corporation (NYSE:PGR) is one of the largest auto insurers in the United States, offering personal and commercial auto, property, and specialty insurance products.
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Disclosure: None. This article is originally published at Insider Monkey.