Progressive Corp (PGR · NYSE)

Progressive shares have slid 8.7% over three months to $205.50, with RSI at 30 and the stock 12.4% below its 52-week high, even as the company reported August net income fell 22% to $951 million on a worsened combined ratio of 89.3 despite 6% premium growth to $7.605 billion. The June quarter showed continued momentum, with revenue up to $23.62B from $22.18B in March and net income of $3.31B, and the company beat estimates in three of its last four earnings reports. Fundamentals remain solid — ROE of 34.9%, debt/EBITDA of 0.5x, and $3.47B in quarterly free cash flow — while the stock trades at a P/E of 10.31 against an analyst target of $231.38.