Progressive Keeps Beating the Insurance Industry at Its Own Game. Can It Last?
Progressive's margin and growth winning streak is already screeching to a halt.
Progressive Keeps Beating the Insurance Industry at Its Own Game. Can It Last?
Overview
Property and casualty (P&C) insurer Progressive (NYSE: PGR) continued to knock it out of the park in the first quarter. So, then, why has it underperformed other insurance stocks? For instance, while Progressive shares are down over 23% in the last 12 months, Allstate shares are up nearly 12%.
While revenue and earnings growth has continued, it has slowed in recent quarters. There are also lingering concerns that a softening insurance market with increased competition, relaxed underwriting standards, and lower premiums, will eventually affect quarterly results.
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Originally published at www.fool.com.
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