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Progressive stock slides following latest quarterly results

Yahoo Finance Live’s Julie Hyman breaks down the decline in stock for Progressive.

Video transcript

JULIE HYMAN: We've got a trending ticker for you now. Progressive out with its latest quarterly results, reporting a 43% increase in first-quarter earnings. Both net premiums written and earned rose in the latest quarter. However, EPS did miss analysts' estimates, and the stock is down by more than 5 and 1/2% at this moment. It's actually one of the worst performers in the S&P 500 today.