12 Best Property & Casualty Insurance Stocks to Buy Now

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1. The Progressive Corporation (NYSE:PGR)

Number of Hedge Fund Holders: 95

The Progressive Corporation (NYSE:PGR) is a prominent American insurance company known for its innovative approach to providing car, home, and other types of insurance. The company has grown to become one of the largest insurers in the U.S. with a strong presence in both personal and commercial lines of coverage. The Progressive Corporation (NYSE:PGR) is known for its famous “Flo” character in advertising and its continuous efforts to enhance the user experience through digital tools and services.

The Q4 2024 highlighted The Progressive Corporation (NYSE:PGR)’s continued growth and efficiency. The company reported a 20% increase in net premiums written, reaching $18.11 billion, and a 19% rise in net income, which amounted to approximately $2.36 billion. Earnings per share (EPS) also surpassed expectations, achieving $4.01 compared to the anticipated $3.53.

The Progressive Corporation (NYSE:PGR) has recently introduced Accident Response, a mobile app feature designed to assist customers in major accidents. The company also supports communities through its 12th Annual Keys to Progress Program, donating vehicles to military families. Additionally, The Progressive Corporation (NYSE:PGR) expanded its reach with partnerships like its collaboration with fantasy football analyst Matthew Berry and the renewal of its naming rights for Cleveland’s Progressive Field through 2036. These initiatives highlight the company’s focus on innovation, growth, and community engagement.

Elyse Greenspan of Wells Fargo maintained a Buy rating on the stock, raising the target price from $302 to $313, implying a 22.33% upside.

Overall The Progressive Corporation (NYSE:PGR) ranks first on our list of the 12 Best Property & Casualty Insurance Stocks to Buy Now. While we acknowledge the potential for PGR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PGR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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