Jim Cramer is Recommending These 5 Stocks Heading Into May 2024.

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1. Progressive Corp (NYSE:PGR)

Number of Hedge Fund Investors: 79

Jim Cramer was recently asked about insurance company Travelers Companies. He said the stock sees ups and downs and recommended Progressive.

“If you want insurance business I am gonna say you buy Progressive. I think Progressive is better.”

Madison Investors Fund stated the following regarding The Progressive Corporation (NYSE:PGR) in its first quarter 2024 investor letter:

“Two of our insurers, Arch Capital and The Progressive Corporation (NYSE:PGR), were also large contributors during the quarter. While they participate in different areas of the insurance market, with Arch generally focused on commercial lines and Progressive on personal lines, they both are benefiting from attractive market conditions, which has boosted underwriting profits. Also, investment income should continue to rise as they roll over the fixed income portfolios at more favorable coupon rates.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the 10 Stocks You Should Not Buy According to Jim Cramer and the JIm Cramer Portfolio: 11 Latest Stocks to Buy.

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