The Progressive Corporation Earnings Rise; CFO Announces Plan to Retire (PGR)

The Progressive Corporation (PGR) reported higher first quarter earnings on Wednesday, which came in above analysts’ estimates. The company also announced that its CFO plans to retire in 2015.

PGR’s Earnings in Brief

PGR reported Q1 earnings of $321.3 million, or 54 cents per share, up from $308.8 million, or 51 cents per share, a year ago. On average, analysts expected to see earnings of 39 cents per share. Net premiums written rose to $4.68 billion from $4.45 billion in the same quarter last year.

PGR’s CFO to Retire

The company also announced that its CFO, Brian Domeck will retire following the Annual Meeting of Shareholders in May 2015. Domeck will be replaced by John Sauerland, who is currently the president of PGR’s Personal Lines Group.

Best Value Stocks To Invest In Right Now

PGR’s Dividend

PGR pays an annual dividend, which is declared each December and paid in February. PGR’s last dividend of 49.29 cents was paid on February 7.

Stock Performance

The Progressive Corporation shares were up 70 cents, or 2.90%, during pre-market trading Wednesday. The stock is down 11.4% YTD.

PGR Dividend Snapshot

As of 9:09am on April 9, 2014

Click here to see the complete history of PGR dividends.