BUZZ-Progressive climbs after strong January results
ReutersFeb 19, 2025 7:20 PM
Shares of auto insurer Progressive PGR.N rise 1.7% to $268.65
PGR reports net income of $1.90/shr for January, compared with $1.18/shr a year earlier
The 61% jump in net income was powered by robust growth in policies in force, which rose 18% to 35.3 million in January
J.P.Morgan says the January results affirm its bullish stance on PGR, adding that it expects the firm's top-tier personal auto insurance franchise to drive strong margins and growth over time
William Blair says despite PGR having a very strong run in 2024, January results indicate that there is room for further growth this year
PGR stock jumped 50.4% in 2024
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