Hunting Progressive Corporation: A Quest for Quality at the Right Price

Is now the right time to buy the best insurer in the US?

I consider Progressive the best big insurer I know. However, it is never cheap. Still, here is my scorecard - 3.7 years of holding, IRR of 29%, MOC of 2.4 not counting dividends, 53% return YTD. This post is about whether right now is a good time to buy PGR.

Recent results

Before we get to the valuation, I would like to revisit Progressive’s last earnings report. The company reports monthly and in December it reported its 2024 results up to November.