The Progressive Corporation (PGR) Reported Robust Results in Q1

Madison Investments, an investment advisor, released its “Madison Sustainable Equity Strategy” first quarter 2025 investor letter. A copy of the letter can be downloaded here.  In the first quarter, the S&P 500 had a total return of -4.3%, with a significant -5.6% drop in March. This decline was mainly due to the impact of tariffs, which hurt business and consumer confidence. Expectations for strong economic growth and deregulation have decreased as the new administration's trade priorities have become clearer. The strategy returned -3.32% (Gross) in the quarter compared to -4.27% for...