PGR new long term addWith this market uncertainty I decided to sell some riskier positions in my main spot account and add this large cap insurance play. PGR has the best ROE vs. revenue growth of the 20 insurance stocks I studied recently. The past few years they have expanded to a nearly 30% return on equity. If this channel holds, this is a great buy zone for the company leading into earnings. They usually beat all metrics and with a local bottom here and a decent correction I expect a nice upside, the fib extension target is 313$, this matches up with my fundamental analysis of the company target between 295-310$. This is a much safer bet than low price to book value based insurance plays. Progressive also has less risk than many competitors that are overexposed to the California fires.
