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Progressive

 

Buy Progressive stocks and shares

PROGRESSIVE (PGR) Stocks

ABOUT PROGRESSIVE

The Progressive Corporation, an American car insurance company, was founded in 1937 and has its headquarters in Mayfield Village, Ohio, in the United States.

The company was established by Joseph Lewis and Jack Green, and, starting in 1956, it found its niche – insuring the more risky drivers. The company is known as the first auto insurance company to operate a website through which its clientele can purchase policies.

It later also pioneered the use of mobile browsers and smartphone apps for rating and managing policies. Progressive is actively working towards being the one-stop insurance provider of choice for families, in order to effectively compete with other top insurers.

The company insures motorcycles, boats, recreational vehicles (RVs) and commercial vehicles. It also offers home insurance through selected companies. It has expanded to Australia where it offers car insurance.

The company is one of the biggest auto insurers in the U.S., boasting more than 13 million policies. Its services can be accessed through the Internet, phone and independent insurance agents. The company sells its products through more than 30 000 independent insurance agencies. Its online site offers customers the option to quote their own policies and then contact an agent to complete the sale.

Progressive began to offer pet injury coverage in 2007, which covers dogs and cats injured in accidents. This coverage is included at no additional cost with collision coverage.

Today, the company employs approximately 35 000 people across its various operations.

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OVERVIEW OF PROGRESSIVE

  • Progressive Corporation conducts its operations through three divisions: Personal Lines, Commercial Auto, and Other.
  • Its Personal Lines division offers insurance for private passenger automobiles, motorcycles, boats and recreational vehicles through agency and direct channels. This segment offers personal auto insurance products, as well as special lines products. It focusses on penetrating households via cross-selling auto policies with other products, including through Progressive Home Advantage (PHA).
  • Commercial Auto supplies primary liability and physical damage insurance for vehicles and trucks owned by businesses, via the independent agency channel. It comprises various business market targets namely Business Auto, For-hire Transportation, Contractor, For-hire Specialty, and Tow.
  • Business Auto includes vans and pickups used by small businesses, whilst For-hire Transportation comprises tractors, trailers and straight trucks used by regional general freight businesses and non-fleet long-haul operators. For-hire Specialty includes dump trucks, log trucks, and garbage trucks. Tow focusses on tow trucks and wreckers used in towing services and by gas stations businesses. For-hire Specialty also includes airport taxis, non-fleet taxis and black-car services.
  • The company’s “Other” segment provides professional liability insurance to community banks, as well as officers liability insurance.

VALUES OF PROGRESSIVE

  • Progressive is passionate about reducing human trauma and economic expense associated with vehicle accidents. It offers its clientele services designed to assist them to get their lives back on track after such unfortunate events. T
  • he company’s operations are guided by its core values which are pragmatic statements of what works best in the real world. The company adheres to high ethical standards and are timely and accurate in all its reports. It does not shy from reporting bad news and welcomes disagreement. It acts with integrity at all times.
  • Progressive respects all people and values diversity in opinion and ideas. It is clear and transparent in all of its communications and set achievable objectives. It strives for excellence in order to meet – and even succeed – the expectations of its customers.
  • The company pursues profit by offering consumers the products and services the need. Profit, in turn, motivates investments and creates value for shareholders.

MARKET PERFORMANCE OF PROGRESSIVE

  • Progressive Corporation trades on the New York Stock Exchange (NYSE) under the stock symbol “PGR”.
  • The company currently ranks #99 in the 2019 Fortune 500 list of biggest U.S. companies by total revenue. Its solid financial performance in the market affords shareholders the confidence to buy or sell company shares in the expectation of sound dividends and returns.
  • In 2018, the company recorded revenue of USUS Dollar 32.02 billion and net income of USUS Dollar 1.28 billion.

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LATEST NEWS PROGRESSIVE

Buy PROGRESSIVE stocks / shares – A Step by Step Guide how to Buy / Purchase PROGRESSIVE Stocks or Shares online.

Before buying any stock or share one has to consider a few factors.

STEP 1: PROPER RESEARCH IS ESSENTIAL

Upon deciding you want to buy PROGRESSIVE Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.

Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.

STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN PROGRESSIVE STOCKS / SHARES

It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a US Dollar 5 stock, multiply 100 by US Dollar 5 to get US Dollar 500.

STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE

Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.

STEP 4: OPEN A BROKERAGE ACCOUNT

A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.

STEP 5: COMMIT AND PURCHASE PROGRESSIVE STOCKS / SHARES

Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out.  Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of PROGRESSIVE stocks / shares.

5 Questions to ask yourself before purchasing any stocks or shares.

  1. Is it the best time to buy this stock / share?
  2. Should I buy PROGRESSIVE stocks / shares in the current economic climate?
  3. Can I afford to buy this stock / share?
  4. What is the forecast of the stock / share growth?
  5. What is the current price per earning ration on the stock / share?

Read more about : OCCIDENTAL PETROLEUM STOCKS

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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