Track market-moving stories before they get noisy

Key Takeaways Personal auto competition is rising as insurers shift from rate increases toward profitable customer growth. Telematics and digital tools help insurers target lower-risk customers with competitive prices. Scale, distribution & cross-selling can help leading insurers gain share while sustaining attractive returns. The U.S. insurance industry is entering a transition phase. The extraordinary earnings tailwinds from higher pricing, favorable reserve development and strong investment income are beginning to fade, while competition is increasing across several major insurance markets. The industry remains profitable, but investors are increasingly focusing on underwriting quality, sustainable organic growth and market-share gains rather than rate-driven premium expansion.

Competition in the U.S. personal auto insurance market is increasing as the industry shifts from a period of rapid rate increases to one in which insurers are competing more aggressively for profitable customers.

After several years of elevated claims inflation, insurers raised premiums significantly to restore underwriting profitability. As loss ratios have improved, carriers now have greater flexibility to pursue growth and compete more actively for customers. Several major insurers have begun filing rate reductions in certain markets, signaling a shift toward a more competitive pricing environment.

Higher premiums have also encouraged consumers to shop around and switch providers, increasing competition for both customer retention and new business. As shopping activity rises, insurers must offer more competitive prices while maintaining adequate risk-adjusted returns.

Technology is further intensifying competition. Telematics, advanced pricing models, digital distribution and automated underwriting allow insurers to assess risk more precisely and compete selectively for attractive customers. Companies with superior data and analytics can offer competitive prices to lower-risk drivers while avoiding underpriced business.

As a result, personal auto is moving from a “raise rates to restore profitability” phase to a “compete for profitable growth” phase. This means less reliance on pricing and greater emphasis on underwriting discipline, technology, customer retention, claims execution and market-share gains.

Importantly, a more competitive personal auto market can benefit the strongest insurers. Companies with superior underwriting capabilities, technology and distribution can compete aggressively without necessarily sacrificing profitability.

Leading insurers have advantages in data, telematics and pricing analytics that allow them to identify and selectively target lower-risk customers. Large carriers can also benefit from established brands, broad agent networks and digital channels, giving them multiple ways to attract customers who are shopping for better prices.

Scale is another important advantage. Large insurers can spread advertising, technology and customer-acquisition costs across a broader policy base, potentially giving them a lower cost of acquiring and servicing customers. Their diversified product offerings also allow them to use auto relationships to cross-sell homeowners, renters and other insurance products, improving customer economics and retention.

Therefore, as personal auto moves from rate-driven growth to competition-driven growth, the likely winners are insurers with superior underwriting, technology, distribution, claims management and balance-sheet strength. These advantages should allow the strongest operators to gain market share and sustain attractive returns even as industry pricing moderates.

The pricing, growth appetite and market-share strategies of companies such as The Travelers Companies, Inc. (TRV - Free Report) , The Allstate Corporation (ALL - Free Report) and The Progressive Corporation (PGR - Free Report) can materially influence the competitive environment for the entire personal-auto market.

Price PerformanceThe insurance industry has returned 4.5% in the past year compared with the Finance sector’s growth of 12.7% and the Zacks S&P 500 composite’s appreciation of 20%.

Image Source: Zacks Investment Research

3 Insurers to WatchWith the help of the Zacks Stock Screener, we have selected three insurance stocks with an impressive Value Score of A or B. TRV and ALL sport a Zacks Rank #1 (Strong Buy) each, while PGR has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Travelers: Based in New York, The Travelers provides a wide variety of property and casualty insurance and surety products and services to businesses, organizations and individuals in the United States and select international markets. Strong renewal rate change, retention and increased new business, supported by a compelling portfolio and a solid capital position, poise TRV well for growth.

For diversified insurers, personal auto is only one part of the earnings equation. They can offset weaker auto economics with commercial lines, specialty businesses and investment income.

The Zacks Consensus Estimate for The Travelers’ 2026 earnings per share indicates a year-over-year increase of 22.6%. The consensus estimate for 2027 revenues indicates an increase of 2.9% from the 2026 estimates.

The consensus estimate for 2026 and 2027 has moved 20.7% and 5.6% north, respectively, in the past 60 days. Earnings have grown 19.2% in the past five years. The expected long-term earnings growth rate is pegged at 4.4%. TRV delivered a four-quarter average earnings surprise of 41.68%. Shares of TRV have rallied 34.5% in the past year.

Allstate: Headquartered in Northbrook, IL, Allstate is the fourth-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the United States. The company also provides a range of life insurance and investment products to its diverse customer base. Growing premiums, Protection Services, business streamlining efforts and solid cash flows are expected to drive long-term growth. The insurer also has a favorable VGM Score of A.

Allstate's focus is increasingly on underwriting profitability and improving its book. A competitive auto market could provide opportunities to grow selectively, but investors will want evidence that growth isn't coming at the expense of margins.

The Zacks Consensus Estimate for Allstate’s 2026 earnings per share indicates a year-over-year increase of 1.9%. The consensus estimate for revenues is pegged at $71.25 billion, implying a year-over-year improvement of 5%.

The consensus estimate for 2027 revenues indicates an increase of 4% from the 2026 estimates. The consensus estimate for 2026 and 2027 has moved 15% and 5% north, respectively, in the past 30 days. Earnings have grown 21.7% in the past five years. The expected long-term earnings growth rate is pegged at 12.5%, better than the industry average of 7.9%. ALL delivered a four-quarter average earnings surprise of 45.34%. Shares of ALL have gained 29.6% in the past year.

Progressive: Headquartered in Mayfield, Ohio, Progressive is one of the country’s largest auto insurance groups, the largest seller of motorcycle and boat policies, the market leader in commercial auto insurance and one of the top 15 homeowners carriers based on premiums written. Progressive’s leadership in Personal Auto remains a major driver of long-term growth. Its growth strategy is its push toward bundled offerings, particularly auto and home bundles, which deepen customer engagement and improve retention economics. The insurer also has a favorable VGM Score of B.

Potentially one of the biggest beneficiaries of the competitive environment because it has demonstrated strong pricing and underwriting capabilities and is gaining market share.

The Zacks Consensus Estimate for Progressive’s 2026 and 2027 revenues indicates an increase of 6.1% and 5.3%, respectively, from the 2026 estimates. Earnings have grown 23.7% in the past five years, better than the industry average of 22.7%. The expected long-term earnings growth rate is pegged at 4.2%. Shares of PGR have lost 11% in the past year.

The First and Only Anti-Amyloid Therapy in China that Enables At-Home Administration for Alzheimer’s Disease, a Progressive Neurodegenerative Disease  | Source: Biogen Inc.

TOKYO and CAMBRIDGE, Mass., Sept. 03, 2026 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. and Biogen Inc. (Nasdaq: BIIB) announced today that the National Medical Products Administration (NMPA) of China has approved the subcutaneous formulation (subcutaneous autoinjector: SC-AI), the anti-amyloid beta (Aβ) protofibril antibody LEQEMBI® (Chinese trademark: 乐意保®; generic name: lecanemab) as an initiation treatment for mild cognitive impairment (MCI) due to Alzheimer’s disease (AD) or mild AD dementia (collectively referred to as early AD). The application was accepted by the NMPA in January 2026 and was subsequently granted Priority Review designation. Launch is planned during Eisai’s FY 2026, ending March 31, 2027.

LEQEMBI SC-AI is a self-administered autoinjector formulation. The approved regimen is 500 mg given once weekly as two consecutive 250 mg injections. With this approval, LEQEMBI treatment now offers a new option of once-weekly SC administration at home, in addition to intravenous (IV) administration every two weeks in a hospital setting. Patients may also switch from IV to SC administration, or vice versa, during treatment.

LEQEMBI SC-AI may significantly reduce the time required compared with IV infusions (approximate injection time of 15 seconds per injection). In addition, at-home administration may reduce the burden of clinic visits for patients and their care partners and enable treatment options that better fit their lifestyles, providing greater flexibility for going out and traveling. The improved convenience and flexibility of treatment with LEQEMBI is expected to lower barriers to initiating and continuing treatment with LEQEMBI. Furthermore, LEQEMBI SC-AI also has the potential to reduce healthcare resources associated with IV dosing, such as nurse monitoring, as well as maintaining infusion capacity. These features are expected to contribute to further streamlining the overall AD treatment pathway. For ARIA (amyloid-related imaging abnormalities) monitoring, as with IV administration, brain magnetic resonance imaging (MRI) is performed prior to initiating treatment and at specified time points after treatment initiation.

AD is a relentless disease with Aβ and tau as hallmarks, caused by a continuous underlying neurotoxic process driven by protofibrils that begins before amyloid plaque accumulation and continues after plaque removal.1,2,3 Only LEQEMBI fights AD in two ways – targeting both protofibrils and amyloid plaque.

This marks the second country globally to approve LEQEMBI SC-AI. This approval is based on the integrated results of data and associated modeling and simulation from the 18-month core study of the Phase 3 Clarity AD study of LEQEMBI in patients with early AD, as well as multiple subcutaneous (SC) administration sub-studies (including the Chinese cohort) in its subsequent long-term extension (LTE). Once-weekly administration of SC-AI 500mg demonstrated exposure equivalent to once every two weeks IV administration, with similar clinical and biomarker benefits. The overall safety profile of SC administration was generally similar to that of IV administration. Injection-related reactions were observed with subcutaneous LEQEMBI, most of which were localized, while systemic reactions were less frequently observed.

Eisai estimates that there were 17 million patients with MCI or mild dementia due to AD in China in 2024, which is expected to increase as the population ages. LEQEMBI was launched in China in June 2024 and is leading the establishment of anti-amyloid therapy in AD management, expanding its contribution to patients with early AD.

Eisai serves as the lead of LEQEMBI development and regulatory submissions globally with Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. Eisai will distribute the product in China and will conduct information provision activities through specialized medical representatives.

MEDIA CONTACTS Eisai Co., Ltd.
Public Relations Department
TEL: +81 (0)3-3817-5120Eisai Europe, Ltd.
EMEA Communications Department
+44 (0) 7760 619251
[email protected]

Eisai Inc. (U.S.)
Julie Edelman
+1-862-213-5915
[email protected]

Biogen Inc.
Madeleine Shin
+1-781-464-3260
[email protected]
INVESTOR CONTACTS Eisai Co., Ltd.
Investor Relations Department
TEL: +81 (0) 3-3817-5122Biogen Inc.
Tim Power
+ 1-781-464-2442
[email protected]
Notes to Editors

1.About lecanemab (generic name, brand name: LEQEMBI®)
Lecanemab is the result of a strategic research alliance between Eisai and BioArctic. It is a humanized immunoglobulin gamma (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ).Lecanemab has been approved in 53 countries and regions including Japan, the U.S., China, Canada, Europe, South Korea, Taiwan, and Saudi Arabia, and is under regulatory review in 6 countries. Following the initial phase with treatment every two weeks for 18 months, intravenous (IV) maintenance dosing with treatment every four weeks is approved in 9 countries and regions including the U.S., China, the UK, and others, and applications have been filed in 11 countries and regions. The U.S. FDA approved Eisai’s Biologics License Application (BLA) for subcutaneous maintenance dosing with LEQEMBI IQLIK in August 2025. For subcutaneous initiation treatment (500 mg), approval was obtained in the United States in July 2026, and applications are under review in three countries, including Japan.

LEQEMBI’s approvals in these countries were based on Phase 3 data from Eisai’s global placebo-controlled, double-blind, parallel-group, randomized Clarity AD clinical trial, in which it met its primary endpoint and all key secondary endpoints with statistically significant results. The primary endpoint was the global cognitive and functional scale, Clinical Dementia Rating Sum of Boxes (CDR-SB). Clarity AD evaluated lecanemab 10 mg/kg bi-weekly IV treatment of early Alzheimer’s disease, which involved 1,795 patients (treatment group: 898, placebo group: 897). 95% of patients who completed the core study (18 months) chose to continue in the long-term extension study (LTE), with 478 patients still receiving treatment for four years. In the Clarity AD core clinical study, data showed LEQEMBI IV significantly slowed disease progression at 18 months (27% vs placebo), and the mean change from baseline between the lecanemab treated group and the placebo group after 18 months was -0.45 (P=0.00005) on the primary endpoint of CDR-SB global cognitive and functional scale.

Since July 2020, the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer’s Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing and includes lecanemab as the backbone anti-amyloid therapy.

2.About Protofibrils
Protofibrils are thought to be the most toxic Aβ species that contribute to brain damage in AD and play a major role in the cognitive decline of this progressive and devastating disease. Protofibrils can cause neuronal and synaptic damage in the brain, which can subsequently adversely affect cognitive function through multiple mechanisms.2 The mechanism by which this occurs has been reported not only by increasing the formation of insoluble Aβ plaques, but also by directly damaging signaling between neurons and other cells. It is believed that reducing protofibrils may reduce neuronal damage and cognitive impairment, potentially preventing the progression of AD.3

3.About the Collaboration between Eisai and Biogen for AD
Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.4.About the Collaboration between Eisai and BioArctic for AD
Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015.5.About Eisai Co., Ltd.
Eisai’s Corporate Concept is “to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides.” Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology.In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.

For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on X, LinkedIn and Facebook. The website and social media channels are intended for audiences outside of the UK and Europe. For audiences based in the UK and Europe, please visit www.eisai.eu and Eisai EMEA LinkedIn.

6.About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patient’s lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Facebook, LinkedIn, X, YouTube.

Biogen Safe Harbor
This news release contains forward-looking statements, including those about the potential clinical effects of LEQEMBI SC-AI (lecanemab subcutaneous formulation); the potential benefits, safety and efficacy of LEQEMBI SC-AI; the potential to reduce time receiving anti-amyloid therapy via IV infusions and healthcare resources associated with IV dosing; potential regulatory discussions, submissions and approvals and the timing thereof including for LEQEMBI SC-AI; the treatment of Alzheimer’s disease; the anticipated benefits and potential of Biogen’s collaboration arrangements with Eisai; the potential of Biogen’s commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” “plan,” “possible,” “potential,” “predict,” “project,” “prospect,” “should,” “target,” “will,” “would,” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.

These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this document, including, among others, uncertainty of long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans and prospects relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; our ability to effectively implement our corporate strategy; the successful execution of our strategic and growth initiatives, including acquisitions; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission.

These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in our subsequent reports on Form 10-Q and Form 10-K, in each case including in the sections thereof captioned “Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in our subsequent reports on Form 8-K. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.

Digital Media Disclosure
From time to time, we have used, or expect in the future to use, our investor relations website (investors.biogen.com), the Biogen LinkedIn account (linkedin.com/company/biogen-) and the Biogen X account (https://x.com/biogen) as a means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor our investor relations website and these social media channels in addition to our press releases, SEC filings, public conference calls and websites, as the information posted on them could be material to investors.

  References1.National Institute on Aging (NIA), National Institutes of Health. What Is Mild Cognitive Impairment? Available at: https://www.nia.nih.gov/health/memory-loss-and-forgetfulness/what-mild-cognitive-impairment. Accessed July 22, 2026.
2.Amin L, Harris DA. Aβ receptors specifically recognize molecular features displayed by fibril ends and neurotoxic oligomers. Nat Commun. 2021; 12:3451. doi:10.1038/s41467-021-23507-z.3.Ono K, Tsuji M. Protofibrils of Amyloid-β are Important Targets of a Disease-Modifying Approach for Alzheimer’s Disease. Int J Mol Sci. 2020;21(3):952. doi: 10.3390/ijms21030952. PMID: 32023927; PMCID: PMC7037706.

Beacon Pointe Advisors LLC purchased a new position in The Progressive Corporation (NYSE:PGR – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,790 shares of the insurance provider’s stock, valued at approximately $9,346,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Pines Wealth Management LLC raised its position in Progressive by 3.9% during the fourth quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 52 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Progressive by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock worth $4,267,000 after purchasing an additional 52 shares during the last quarter. Phillips Wealth Planners LLC boosted its holdings in shares of Progressive by 2.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,916 shares of the insurance provider’s stock worth $436,000 after purchasing an additional 52 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Progressive by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 4,307 shares of the insurance provider’s stock valued at $981,000 after purchasing an additional 52 shares during the last quarter. Finally, Brown Miller Wealth Management LLC increased its position in shares of Progressive by 2.4% during the 2nd quarter. Brown Miller Wealth Management LLC now owns 2,365 shares of the insurance provider’s stock valued at $517,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In A number of research firms recently weighed in on PGR. Mizuho set a $236.00 target price on Progressive in a research report on Wednesday, August 5th. BMO Capital Markets reiterated a “market perform” rating on shares of Progressive in a research report on Wednesday, August 19th. Morgan Stanley raised shares of Progressive from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $190.00 to $210.00 in a research note on Friday, July 24th. Jefferies Financial Group restated a “hold” rating and issued a $228.00 price objective on shares of Progressive in a report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods raised shares of Progressive from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $226.00 to $250.00 in a research note on Thursday, August 20th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $236.26.

Check Out Our Latest Analysis on PGR Insider Transactions at Progressive In related news, insider Steven Broz sold 1,225 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $219.40, for a total value of $268,765.00. Following the transaction, the insider owned 31,257 shares in the company, valued at $6,857,785.80. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Bailo sold 8,452 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $212.71, for a total transaction of $1,797,824.92. Following the sale, the insider directly owned 32,348 shares in the company, valued at $6,880,743.08. This trade represents a 20.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 83,449 shares of company stock valued at $17,685,203. 0.32% of the stock is currently owned by corporate insiders.

Progressive Price Performance PGR stock opened at $218.90 on Friday. The firm has a 50 day moving average price of $217.19 and a 200-day moving average price of $207.23. The Progressive Corporation has a 52-week low of $189.20 and a 52-week high of $249.83. The firm has a market capitalization of $127.26 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 2.90 and a beta of 0.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29.

Progressive (NYSE:PGR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, topping the consensus estimate of $4.64 by $1.03. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The company had revenue of $23.61 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter in the prior year, the business posted $5.40 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that The Progressive Corporation will post 17.74 EPS for the current fiscal year.

Progressive Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 1st. Progressive’s payout ratio is 2.01%.

Progressive Company Profile (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

Featured Articles Five stocks we like better than Progressive 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop?

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

Danske Bank A S acquired a new stake in shares of The Progressive Corporation (NYSE:PGR – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,741 shares of the insurance provider’s stock, valued at approximately $1,036,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGR. BlackRock Inc. acquired a new position in Progressive in the second quarter valued at approximately $10,496,271,000. Norges Bank acquired a new stake in shares of Progressive during the 4th quarter worth approximately $1,836,094,000. Deutsche Bank AG acquired a new stake in shares of Progressive during the 2nd quarter worth approximately $1,098,838,000. Wellington Management Group LLP lifted its holdings in shares of Progressive by 181.8% in the 4th quarter. Wellington Management Group LLP now owns 6,506,302 shares of the insurance provider’s stock worth $1,481,615,000 after purchasing an additional 4,197,212 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its position in Progressive by 19,724.0% during the 1st quarter. Diamant Asset Management Inc. now owns 4,068,876 shares of the insurance provider’s stock valued at $806,614,000 after purchasing an additional 4,048,351 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive In related news, insider Lori A. Niederst sold 7,339 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $209.29, for a total value of $1,535,979.31. Following the completion of the sale, the insider owned 42,567 shares of the company’s stock, valued at $8,908,847.43. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Bailo sold 8,452 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $212.71, for a total transaction of $1,797,824.92. Following the completion of the transaction, the insider owned 32,348 shares of the company’s stock, valued at $6,880,743.08. This represents a 20.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 82,224 shares of company stock valued at $17,416,438. 0.32% of the stock is currently owned by insiders.

Progressive Stock Performance Shares of PGR stock opened at $219.45 on Friday. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $252.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $127.58 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 2.94 and a beta of 0.27. The business has a 50 day simple moving average of $215.53 and a 200 day simple moving average of $206.64. Progressive (NYSE:PGR – Get Free Report) last announced its earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, beating the consensus estimate of $4.64 by $1.03. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The firm had revenue of $23.61 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter in the previous year, the business earned $5.40 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that The Progressive Corporation will post 17.71 EPS for the current year.

Progressive Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, October 1st. Progressive’s payout ratio is currently 2.01%.

Analyst Upgrades and Downgrades A number of research analysts recently commented on PGR shares. HSBC upped their price objective on Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Wells Fargo & Company raised their target price on Progressive from $198.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $228.00 price target on shares of Progressive in a report on Wednesday. William Blair restated a “market perform” rating on shares of Progressive in a research report on Wednesday, July 15th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Progressive in a report on Thursday. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $236.05.

Check Out Our Latest Report on Progressive

About Progressive (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

Featured Articles Five stocks we like better than Progressive 2 Biotech Stocks Shaping Up for Major Breakouts 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

Allworth Financial LP purchased a new stake in shares of The Progressive Corporation (NYSE:PGR – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,539 shares of the insurance provider’s stock, valued at approximately $2,084,000.

A number of other large investors also recently modified their holdings of the company. Klingman & Associates LLC grew its holdings in shares of Progressive by 1.7% during the fourth quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 48 shares in the last quarter. Pines Wealth Management LLC increased its holdings in shares of Progressive by 3.9% in the 4th quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock worth $319,000 after buying an additional 52 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Progressive by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock valued at $4,267,000 after buying an additional 52 shares in the last quarter. Phillips Wealth Planners LLC lifted its holdings in shares of Progressive by 2.8% during the 4th quarter. Phillips Wealth Planners LLC now owns 1,916 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 52 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Progressive by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,307 shares of the insurance provider’s stock worth $981,000 after acquiring an additional 52 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes Several equities analysts have recently commented on PGR shares. Wells Fargo & Company increased their price objective on Progressive from $198.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday. Roth Capital reaffirmed a “buy” rating and set a $245.00 target price on shares of Progressive in a report on Thursday. BMO Capital Markets restated a “market perform” rating on shares of Progressive in a research report on Wednesday. HSBC boosted their target price on Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Royal Bank Of Canada set a $208.00 price objective on Progressive in a research note on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $236.05.

Get Our Latest Stock Report on PGR Insider Activity at Progressive In other news, insider John Jo Murphy sold 8,124 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.70, for a total value of $1,727,974.80. Following the sale, the insider directly owned 41,291 shares of the company’s stock, valued at $8,782,595.70. The trade was a 16.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Patricia Griffith sold 37,338 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $7,942,165.98. Following the completion of the sale, the chief executive officer owned 522,776 shares in the company, valued at $111,199,682.96. The trade was a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 82,224 shares of company stock worth $17,416,438 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Progressive Stock Down 0.4% Shares of NYSE:PGR opened at $219.45 on Friday. The firm has a market capitalization of $127.58 billion, a P/E ratio of 11.01, a P/E/G ratio of 2.96 and a beta of 0.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50 day moving average price of $215.53 and a 200-day moving average price of $206.64. The Progressive Corporation has a 52-week low of $189.20 and a 52-week high of $252.82.

Progressive (NYSE:PGR – Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, topping the consensus estimate of $4.64 by $1.03. The company had revenue of $23.61 billion for the quarter, compared to analysts’ expectations of $19.49 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.40 earnings per share. As a group, equities research analysts anticipate that The Progressive Corporation will post 17.62 EPS for the current fiscal year.

Progressive Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, October 1st. Progressive’s dividend payout ratio (DPR) is presently 2.01%.

About Progressive (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

Further Reading Five stocks we like better than Progressive Blueprint for a Boom: SEC Clears the Crypto Runway Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss Advance Auto Parts Plunged, But Its Turnaround Is Still Working Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

Aurora Investment Counsel acquired a new stake in shares of The Progressive Corporation (NYSE:PGR – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,649 shares of the insurance provider’s stock, valued at approximately $2,326,000. Progressive comprises 1.2% of Aurora Investment Counsel’s holdings, making the stock its 26th largest position.

A number of other large investors also recently bought and sold shares of the stock. Bogart Wealth LLC grew its position in shares of Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the period. IMG Wealth Management Inc. acquired a new position in shares of Progressive during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in Progressive in the 2nd quarter valued at about $26,000. Bard Associates Inc. acquired a new stake in Progressive in the 4th quarter worth about $27,000. Finally, HHM Wealth Advisors LLC increased its stake in Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after buying an additional 126 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive In related news, CEO Susan Patricia Griffith sold 37,338 shares of Progressive stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $212.71, for a total value of $7,942,165.98. Following the completion of the sale, the chief executive officer owned 522,776 shares in the company, valued at approximately $111,199,682.96. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lori A. Niederst sold 7,339 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $209.29, for a total value of $1,535,979.31. Following the completion of the sale, the insider directly owned 42,567 shares in the company, valued at approximately $8,908,847.43. The trade was a 14.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 82,224 shares of company stock valued at $17,416,438. 0.32% of the stock is currently owned by company insiders.

Progressive Stock Performance Shares of Progressive stock opened at $217.28 on Thursday. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93. The business’s fifty day simple moving average is $214.84 and its 200-day simple moving average is $206.46. The firm has a market cap of $126.32 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 2.80 and a beta of 0.27. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. Progressive (NYSE:PGR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.64 by $1.03. The firm had revenue of $23.61 billion during the quarter, compared to the consensus estimate of $19.49 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $5.40 EPS. Equities analysts forecast that The Progressive Corporation will post 17.47 earnings per share for the current year.

Progressive Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is currently 2.01%.

Wall Street Analysts Forecast Growth A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price objective on Progressive from $250.00 to $241.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Keefe, Bruyette & Woods lowered their target price on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating on the stock in a research note on Thursday, July 16th. Royal Bank Of Canada set a $208.00 target price on shares of Progressive in a report on Friday, May 22nd. Finally, Morgan Stanley raised shares of Progressive from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $190.00 to $210.00 in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Progressive currently has an average rating of “Hold” and an average price target of $234.11.

Check Out Our Latest Analysis on PGR

Progressive Profile (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

Further Reading Five stocks we like better than Progressive Bloom Energy’s AI Surge Meets a Valuation Reality Check Target Is Winning Shoppers Back—Can the Rally Reach $180? IonQ’s Space Contract Points to a New Frontier for Quantum Investors Is Apple’s AI Strategy Smarter Than Skeptics Think?

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

Bruce Berkowitz’s Fairholme Capital disclosed in its Q2 2026 13F filing that 18,182,367 shares of St. Joe Company, valued at $1,138,761,645, represent 76.43% of the fund’s portfolio as of June 30, 2026. That is the entire portfolio. Even for a conviction-driven value manager, parking three-quarters of a fund in one Northwest Florida land developer is extraordinary, and it deserves scrutiny before any retail investor decides Berkowitz has done the homework for them.

The filing also showed nuance. Fairholme trimmed 1,027,800 JOE shares in the quarter, a small reduction against the core position. Alongside the trim, the fund opened three contrarian entries: Pfizer (NYSE:PFE | PFE Price Prediction) at 231,000 shares valued at $5,562,480, Campbell Soup at 116,500 shares valued at $2,594,455, and United Parcel Service (NYSE:UPS) at 23,800 shares valued at $2,558,500. Fairholme also added to Berkshire Hathaway (NYSE:BRK-B) and Progressive (NYSE:PGR), signaling alignment with established value names.

The JOE Thesis Is Working St. Joe (NYSE:JOE) posted its highest Q2 revenue in 20 years, with Q2 2026 revenue of $158.80M up 23% year over year and net income of $40.50M up 37%. Every segment expanded margins: residential to 48% from 45%, hospitality to 42% from 39%, commercial to 65% from 57%. The company sits on roughly 165,000 acres in Northwest Florida with a residential pipeline exceeding 25,000 homesites, and it has quietly shrunk the float to 56,991,651 shares, the lowest count since 1997.

CEO Jorge Gonzalez framed the capital return this way: “For the second quarter of 2026, the Company allocated 43% of capital to stock repurchases, 31% to capital expenditures for growth, 14% to debt repayment, and 12% to dividends.” The stock has responded, rising 36.4% over the past year and 14.71% year to date through August 17, 2026. Berkowitz’s thesis, land compounding into cash flow as migration into Northwest Florida accelerates, is showing up in the numbers.

The Rotating Conviction Signal The new buys are classic Berkowitz. Pfizer trades at a forward P/E near 9 with a 6.42% dividend yield. Campbell’s is down 25.85% over the past year. UPS trades at a forward P/E of roughly 14 with a 6.38% dividend yield. These are beaten-down cash generators in pharma, staples, and logistics, precisely the profile Fairholme buys when sentiment is bombed out.

Should Retail Follow? JOE is a defensible long-term compounder, but Berkowitz’s 76% weighting reflects his risk tolerance, his cost basis, and his 20-year relationship with the asset. A retirement-focused investor replicating that concentration would be taking on single-name risk far beyond typical portfolio construction. JOE trades at a trailing P/E of 32 and price-to-book of 5.09, which is not statistically cheap. The land-bank optionality is real, but so is the 1.29 beta and hurricane exposure. Following Berkowitz into PFE or UPS at these yields is a more defensible starter move than mirroring his flagship bet. The signal worth taking is his sector rotation.

Contact [email protected] for any questions or corrections.

A month has gone by since the last earnings report for Progressive (PGR - Free Report) . Shares have added about 1.5% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Progressive due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for The Progressive Corporation before we dive into how investors and analysts have reacted as of late.

Progressive's Q2 Earnings Beat Estimates, Premiums Rise Y/Y

The Progressive Corporation’s second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year.

Behind the HeadlinesNet premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago.

Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate.

Net realized gains on securities were $604 million, up 56% year over year.
Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points (bps) from the prior-year quarter’s level to 87.1.

June Numbers in DetailsOperating revenues grew 2.5% year over year to $7.6 billion, driven by 2.1% higher net premiums earned, a 11.5% increase in net investment income, a 2% rise in fees and other revenues, and 6.7% higher service revenues. The top line missed the Zacks Consensus Estimate by 1.2%.

Total expenses rose 6.1% to $6.6 billion, attributable to 5.3% higher losses and loss adjustment expenses, a 0.6% increase in policy acquisition costs, a 12.5% rise in other underwriting expenses, and a 8.5% increase in service expenses.

June Policies in ForcePolicies in force were solid in the Personal Lines segment, up 8% from the year-ago month’s figure to 38.9 million. Special Lines improved 7% to 7.3 million.
In the Personal Auto segment, Agency Auto increased 8% year over year to 11.2 million, while Direct Auto increased 10% to 16.7 million.

Progressive’s Commercial Auto segment policies rose 3% year over year to 1.2 million. The Property business had 3.6 million policies in force, up 1%.

Financial UpdateProgressive’s book value per share was $59.05 as of June 30, 2026, up 6.2% from $55.62 as of June 30, 2025.

Return on equity in June 2026 was 32.5%, down from 43.6% reported in the year-ago period. The total debt-to-total capital ratio deteriorated 210 bps to 19.6.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in fresh estimates.

VGM ScoresCurrently, Progressive has a average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Interestingly, Progressive has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Progressive (PGR -0.01%) is an insurance company, so its revenue comes from two primary sources. The first is profitably selling insurance. The second is the income the company generates from managing the float. Right now, it looks like there's a trade-off being made after a period of very strong results. Here's what you need to know.

Progressive wants to keep growing As an insurance company, Progressive collects premiums up front and pays out claims later. In between, it gets to invest the cash, which is known as the float, to generate income. This is a powerful business model, with the company's investment portfolio valued at over $97 billion as of the end of the second quarter of 2026. That portfolio generated $979 million in revenues for Progressive in the quarter.

Image source: Getty Images.

So there's a very good reason why Progressive wants to keep growing its insurance portfolio. However, it has to write profitable policies, or more growth may not be a good thing. This is where the combined ratio comes in. A number below 100 indicates the company's policies are profitable. Occasionally, major events will push the combined ratio higher, but overall, investors want to see a number below 100. In the second quarter, Progressive's combined ratio was 87.3.

Progressive is making a trade-off The problem is that in the second quarter of 2025, the combined ratio was 86.2. So the ratio is going in the wrong direction. In fact, in June, the ratio was up to 90. As noted, the combined ratio can vary slightly from period to period. However, that drop has to be taken in context.

Today's Change

(

-0.01

%) $

-0.01

Current Price

$

215.33

In the first half of 2025, net premiums written increased 15%. In the first half of 2026, growth was down to 6%. It looks like the company may be taking on less attractive business to continue growing, which increases its ability to benefit from the float. To be fair, the company has been operating at a very high level over the last couple of years. So the current shift in the combined ratio isn't terrible; it is likely just an informed decision by management to support long-term growth amid increased competition.

Progressive's combined ratio target is 96 All in, Progressive is still performing quite well as a business. So there's no particular reason to worry. That said, the company's combined ratio target is 96 or below. So the trade-off between quality and growth starts to get really strained the closer the company gets to that level. If you own Progressive, keep that target in mind, but you probably don't need to be overly concerned about the combined ratio today.

The Progressive Corporation (PGR) Q2 2026 Earnings Call August 4, 2026 9:30 AM EDT

Company Participants

Julianna Paterra
Susan Griffith - President, CEO & Director
Lori Niederst - Chief Personal Lines Officer
Patrick Callahan - President of Personal Lines
John Curtiss
Andrew Quigg - VP & CFO
Brandon Hopkins

Conference Call Participants

Elyse Greenspan - Wells Fargo Securities, LLC, Research Division
Tracy Benguigui - Wolfe Research, LLC
Taylor Scott - Barclays Bank PLC, Research Division
Andrew Kligerman - TD Cowen, Research Division
Pablo Singzon - JPMorgan Chase & Co, Research Division
David Motemaden - Evercore ISI Institutional Equities, Research Division
Jon Paul Newsome - Piper Sandler & Co., Research Division

Presentation

Julianna Paterra

Good morning, and thank you for joining us today for Progressive's Second Quarter Investor Event. I am Julianna Paterra, Director of Investor Relations, and I will be moderator for today's event. The company will not make detailed comments related to its results in addition to those provided in its annual report on Form 10-K, quarterly reports on Form 10-Q and the letter to shareholders, which have been posted to the company's website.

This quarter includes a presentation on a specific portion of our business, followed by a question-and-answer session with members of our leadership team. The introductory comments and the presentation were previously recorded. Upon completion of the previously recorded remarks, we will use the balance of the 90 minutes scheduled for this event for live questions and answers with leaders featured in our recorded remarks as well as other members of our management team.

As always, discussions in this event may include forward-looking statements. These statements are based on management's current expectations and are subject to many risks and uncertainties that could cause actual events and results to differ materially from those discussed during today's event.

Additional information concerning those risks and uncertainties is available in

Posted by Defense World Staff on Aug 3rd, 2026

First National Bank of Mount Dora Trust Investment Services boosted its holdings in The Progressive Corporation (NYSE:PGR – Free Report) by 42.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,751 shares of the insurance provider’s stock after acquiring an additional 10,879 shares during the period. Progressive comprises about 1.6% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 25th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Progressive were worth $7,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC boosted its position in Progressive by 235.1% during the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Bard Associates Inc. acquired a new stake in Progressive in the fourth quarter worth $27,000. HHM Wealth Advisors LLC lifted its stake in Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after buying an additional 126 shares during the last quarter. IFC & Insurance Marketing Inc. bought a new stake in Progressive in the fourth quarter valued at $29,000. Finally, Axiom Investment Management LLC acquired a new position in shares of Progressive during the first quarter valued at $31,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive In related news, CFO Andrew J. Quigg sold 3,499 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $220.00, for a total value of $769,780.00. Following the completion of the sale, the chief financial officer owned 42,595 shares in the company, valued at approximately $9,370,900. This represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CIO Jonathan S. Bauer sold 2,242 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.71, for a total transaction of $476,895.82. Following the completion of the transaction, the executive directly owned 26,250 shares of the company’s stock, valued at $5,583,637.50. This represents a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,885 shares of company stock valued at $15,880,459 over the last three months. 0.32% of the stock is owned by insiders.

Progressive Price Performance NYSE PGR opened at $211.50 on Monday. The business’s fifty day moving average is $211.33 and its two-hundred day moving average is $205.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.32. The stock has a market capitalization of $123.59 billion, a P/E ratio of 10.61, a P/E/G ratio of 2.86 and a beta of 0.27. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $254.93.

Progressive Announces Dividend The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is 2.01%.

Wall Street Analyst Weigh In Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $250.00 price target on shares of Progressive in a research report on Tuesday, July 14th. Royal Bank Of Canada set a $208.00 target price on shares of Progressive in a research note on Friday, May 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a research report on Thursday, July 16th. BMO Capital Markets dropped their price target on shares of Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, July 16th. Finally, William Blair reaffirmed a “market perform” rating on shares of Progressive in a report on Wednesday, July 15th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $236.11.

Get Our Latest Stock Report on PGR

Progressive Company Profile (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

Read More Five stocks we like better than Progressive 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEContango Wealth Management LLC Makes New $823,000 Investment in Global X Defense Tech ETF $SHLD

NEXT HEADLINE »First Trust Advisors LP Boosts Holdings in JD.com, Inc. $JD

Posted by Defense World Staff on Jul 24th, 2026

Bank of Nova Scotia lessened its holdings in shares of The Progressive Corporation (NYSE:PGR – Free Report) by 69.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 389,312 shares of the insurance provider’s stock after selling 878,084 shares during the quarter. Bank of Nova Scotia owned about 0.07% of Progressive worth $77,180,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its holdings in shares of Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares in the last quarter. Bard Associates Inc. bought a new stake in Progressive in the 4th quarter valued at $27,000. HHM Wealth Advisors LLC increased its holdings in Progressive by 700.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 126 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in Progressive in the 4th quarter worth $29,000. Finally, Entrust Financial LLC bought a new position in shares of Progressive during the 4th quarter valued at about $33,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Trading Up 1.2% Shares of NYSE PGR opened at $207.06 on Friday. The business’s 50 day moving average is $209.60 and its two-hundred day moving average is $205.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The stock has a market capitalization of $120.99 billion, a P/E ratio of 10.38, a PEG ratio of 2.75 and a beta of 0.26.

Progressive Announces Dividend The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s payout ratio is currently 2.01%.

Analyst Ratings Changes PGR has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price objective on Progressive from $205.00 to $198.00 and set an “underweight” rating for the company in a research report on Thursday, July 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $250.00 price target on shares of Progressive in a report on Tuesday, July 14th. UBS Group lifted their price objective on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Morgan Stanley lowered their target price on Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a research report on Tuesday, March 31st. Finally, William Blair reissued a “market perform” rating on shares of Progressive in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Progressive currently has an average rating of “Hold” and an average price target of $235.05.

View Our Latest Analysis on Progressive

Insider Activity at Progressive In other Progressive news, Director Jeffrey D. Kelly sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the transaction, the director owned 22,546 shares in the company, valued at $4,877,376.18. The trade was a 23.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Jo Murphy sold 5,916 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the sale, the insider directly owned 41,290 shares in the company, valued at approximately $8,258,000. This represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,230 shares of company stock worth $3,165,817. Company insiders own 0.32% of the company’s stock.

About Progressive (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

See Also Five stocks we like better than Progressive Premium Retail’s Stress Test Is Separating Winners From Losers D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? GE Vernova Just Sent a Mixed AI Signal to Investors Alphabet Crushed Earnings, But One Number Spooked the Market Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Corporation (NYSE:PGR – Free Report).

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEBank of Nova Scotia Grows Stake in Brookfield Infrastructure Partners LP $BIP

NEXT HEADLINE »Krystal Biotech, Inc. $KRYS Shares Purchased by Fifth Third Bancorp

Progressive (PGR - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Over the past month, shares of this insurer have returned -7.2%, compared to the Zacks S&P 500 composite's +0.4% change. During this period, the Zacks Insurance - Property and Casualty industry, which Progressive falls in, has gained 1.7%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

Progressive is expected to post earnings of $3.64 per share for the current quarter, representing a year-over-year change of -10.1%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.1%.

For the current fiscal year, the consensus earnings estimate of $17.56 points to a change of -3.8% from the prior year. Over the last 30 days, this estimate has changed +3.2%.

For the next fiscal year, the consensus earnings estimate of $16.2 indicates a change of -7.7% from what Progressive is expected to report a year ago. Over the past month, the estimate has changed -1.5%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Progressive is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

In the case of Progressive, the consensus sales estimate of $23.23 billion for the current quarter points to a year-over-year change of +4.5%. The $92.14 billion and $97.53 billion estimates for the current and next fiscal years indicate changes of +6% and +5.8%, respectively.

Last Reported Results and Surprise HistoryProgressive reported revenues of $23.01 billion in the last reported quarter, representing a year-over-year change of +6.4%. EPS of $4.85 for the same period compares with $4.88 a year ago.

Compared to the Zacks Consensus Estimate of $23.09 billion, the reported revenues represent a surprise of -0.37%. The EPS surprise was +3.19%.

Over the last four quarters, Progressive surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Progressive is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Progressive. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.

We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.

The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.

The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.

The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.

In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.

Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.

Should You Consider Capital Southwest?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Capital Southwest (CSWC - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $0.58 a share, just 13 days from its upcoming earnings release on August 3, 2026.

By taking the percentage difference between the $0.58 Most Accurate Estimate and the $0.55 Zacks Consensus Estimate, Capital Southwest has an Earnings ESP of +6.10%. Investors should also know that CSWC is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

CSWC is one of just a large database of Finance stocks with positive ESPs. Another solid-looking stock is Progressive (PGR - Free Report) .

Progressive, which is readying to report earnings on October 21, 2026, sits at a Zacks Rank #3 (Hold) right now. Its Most Accurate Estimate is currently $3.65 a share, and PGR is 92 days out from its next earnings report.

For Progressive, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $3.64 is +0.40%.

CSWC and PGR's positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.

Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>

Posted by Defense World Staff on Jul 18th, 2026

Allspring Global Investments Holdings LLC reduced its position in shares of The Progressive Corporation (NYSE:PGR – Free Report) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,096 shares of the insurance provider’s stock after selling 54,370 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of Progressive worth $66,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allstate Corp boosted its stake in shares of Progressive by 106.1% in the 4th quarter. Allstate Corp now owns 44,513 shares of the insurance provider’s stock valued at $10,136,000 after purchasing an additional 22,915 shares during the last quarter. Norges Bank bought a new position in Progressive during the fourth quarter worth $1,836,094,000. Investment House LLC bought a new position in Progressive during the fourth quarter worth $8,447,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Progressive by 5.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider’s stock valued at $411,506,000 after buying an additional 97,275 shares during the period. Finally, Van Cleef Asset Management Inc lifted its holdings in Progressive by 1.2% in the fourth quarter. Van Cleef Asset Management Inc now owns 761,587 shares of the insurance provider’s stock valued at $173,429,000 after buying an additional 9,017 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive In related news, insider Steven Broz sold 1,157 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the transaction, the insider directly owned 27,511 shares of the company’s stock, valued at $5,633,152.36. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,230 shares of company stock worth $3,165,817 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Progressive News Roundup Here are the key news stories impacting Progressive this week:

Positive Sentiment: Reuters reported that Progressive’s quarterly profit rose on higher auto insurance demand, reinforcing the view that core underwriting and pricing trends remain healthy. Progressive’s quarterly profit rises on higher auto insurance demand Positive Sentiment: Some commentary remains constructive after Q2, noting that Progressive continues to grow policies and remains a leading property and casualty insurer, which may help investor confidence. Progressive Is The P&C Insurer To Hold, After Policies Grow In Q2 Neutral Sentiment: Bank of America raised its price target to $308 and kept a buy rating, signaling optimism even though the target was trimmed slightly from prior levels. Progressive Given New $308.00 Price Target at Bank of America Neutral Sentiment: Other analysts also reduced their forecasts after the mixed Q2 report, but several still view the shares as fairly valued to modestly attractive from current levels. Progressive Analysts Slash Their Forecasts After Q2 Results Negative Sentiment: BMO Capital Markets cut its price target to $205 and kept a market perform rating, reflecting a more cautious stance following the earnings release. BMO Capital Markets price target cut Negative Sentiment: Keefe, Bruyette & Woods also lowered its target to $226 and maintained a market perform rating, adding to the post-earnings analyst headwinds. KBW price target cut Analyst Ratings Changes A number of brokerages have weighed in on PGR. William Blair reiterated a “market perform” rating on shares of Progressive in a report on Wednesday. UBS Group boosted their price objective on Progressive from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. HSBC upped their target price on Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Mizuho lifted their target price on Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada set a $208.00 price target on Progressive in a research note on Friday, May 22nd. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Progressive has an average rating of “Hold” and a consensus price target of $235.05.

Get Our Latest Analysis on PGR

Progressive Stock Up 0.9% PGR stock opened at $207.73 on Friday. The firm has a market capitalization of $121.38 billion, a PE ratio of 10.42, a P/E/G ratio of 3.87 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $254.93. The stock’s 50 day moving average is $208.77 and its 200-day moving average is $206.50.

Progressive (NYSE:PGR – Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.Progressive’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.37 earnings per share. Sell-side analysts expect that The Progressive Corporation will post 17.39 EPS for the current fiscal year.

Progressive Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s payout ratio is currently 2.03%.

Progressive Profile (Free Report)

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

Featured Stories Five stocks we like better than Progressive AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident GE Aerospace Faces a Prove-It Moment in Q2 Earnings Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Corporation (NYSE:PGR – Free Report).

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEHealthcare Stocks To Follow Now – July 16th

Key Takeaways Progressive earned $4.85 per share, beating estimates by 3.2%, as premiums written rose 5%.Net premiums earned grew 6% to $21.6 billion, while securities gains surged 56% to $604 million.Personal Lines policies rose 8% to 38.9 million, but the combined ratio worsened 110 bps to 87.1%. The Progressive Corporation’s (PGR - Free Report) second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year.

Behind the HeadlinesNet premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago.

Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate.

Net realized gains on securities were $604 million, up 56% year over year.

Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points (bps) from the prior-year quarter’s level to 87.1.

June Numbers in DetailsOperating revenues grew 2.5% year over year to $7.6 billion, driven by 2.1% higher net premiums earned, a 11.5% increase in net investment income, a 2% rise in fees and other revenues, and 6.7% higher service revenues. The top line missed the Zacks Consensus Estimate by 1.2%.

Total expenses rose 6.1% to $6.6 billion, attributable to 5.3% higher losses and loss adjustment expenses, a 0.6% increase in policy acquisition costs, a 12.5% rise in other underwriting expenses, and a 8.5% increase in service expenses.

June Policies in ForcePolicies in force were solid in the Personal Lines segment, up 8% from the year-ago month’s figure to 38.9 million. Special Lines improved 7% to 7.3 million.

In the Personal Auto segment, Agency Auto increased 8% year over year to 11.2 million, while Direct Auto increased 10% to 16.7 million.

Progressive’s Commercial Auto segment policies rose 3% year over year to 1.2 million. The Property business had 3.6 million policies in force, up 1%.

Financial UpdateProgressive’s book value per share was $59.05 as of June 30, 2026, up 6.2% from $55.62 as of June 30, 2025.

Return on equity in June 2026 was 32.5%, down from 43.6% reported in the year-ago period. The total debt-to-total capital ratio deteriorated 210 bps to 19.6.

Zacks RankPGR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming ReleasesThe Travelers Companies Inc. (TRV - Free Report) will report second-quarter 2026 results on July 17, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $5.16, suggesting a decrease of 20.7% from the year-ago quarter’s reported figure.

TRV’s earnings beat estimates in the last four quarters.

Chubb Limited (CB - Free Report) will report second-quarter 2026 results on July 21, after market close. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $6.60 per share, indicating an increase of 7.5% from the year-ago quarter’s reported figure.

CB’s earnings beat estimates in the last four quarters.

W.R. Berkley Corporation (WRB - Free Report) will report second-quarter 2026 results on July 20, after market close. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.09, suggesting an increase of 3.8% from the year-ago quarter’s reported figure.

WRB’s earnings beat estimates in three of the last four reported quarters, while missing in one.

15.7.2026 16:03, PNR, PGR, PYPL, ELV, BLK

Index Dow Jones +0,37 % na 52704,91 b. S&P 500 +0,41 % na 7574,82 b. Nasdaq Composite +0,61 % na 26265,92 b.

Nejsledovanější americké indexy v úvodu středečního obchodování posilují. Výsledková sezóna pokračuje a po reportu se daří akciím správce aktiv BlackRock (+7,2 %). Naopak po výsledcích ztrácejí akcie zdravotnické společnosti Elevance Health (-8,6 %). Bez výrazných pohybů se obchodují akcie farmaceutické společnosti Johnson & Johnson (-0,1 %), investiční banky Morgan Stanley (+0,6 %) či výrobce litografických zařízení ASML (+0,2 %). Podrobnosti výsledkových reportů naleznete v jednotlivých zprávách.

V popředí růstu jsou akcie PayPal (+16 %), a to poté, co agentura Reuters informovala, že Stripe a Advent International chtějí údajně koupit tohoto zprostředkovatele plateb za více než 53 mld. USD (60,5 USD na akcii).

Nejvíce ztrácejí akcie společnosti Pentair (-12 %), která se zaměřuje na úpravu vody. Firma totiž snížila svůj celoroční výhled. Analytici poukázali na slabé výsledky divize bazénů jako na hlavní brzdu růstu a dodali, že není jasné, jak a kdy se toto podnikání v bezprostřední budoucnosti zotaví. Pentair v celém roce nově očekává očištěný zisk na akcii v rozmezí 4,60 až 4,80 USD, dříve společnost projektovala 5,30 až 5,40 USD. Trh odhadoval 5,33 USD.

Americká pojišťovna Progressive (-7,8 %), která se specializuje na pojištění vozidel, oslabuje po zveřejnění výsledků hospodaření za 2Q. Čisté předepsané pojistné vzrostlo meziročně o 5 % na 21,08 mld. USD, což je mírně pod odhady 21,29 mld. USD. Zisk na akcii dosáhl 5,67 USD.

Index S&P 500 +0,41 % na 7574,82 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Zbytná spotřeba +1,2 % Energie -0,5 % Komunikační služby +1,1 % Průmysl 0 % Reality +0,7 % Zdravotní péče +0 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna PayPal Holdings (PYPL) +16 % Pentair (PNR) -12 % Blackrock (BLK) +7,2 % Elevance Health (ELV) -8,6 % Ares Management Corp (ARES) +6,0 % Progressive Corp (PGR) -7,8 % Cintas Corp (CTAS) +5,8 % Corning (GLW) -6,0 % Vistra Corp (VST) +5,1 % Sandisk Corp (SNDK) -5,8 % Zdroj: Bloomberg

Michal Bárta
Fio banka, a.s.
Prohlášení

MAYFIELD VILLAGE, OHIO, July 15, 2026 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended June 30, 2026:

 JuneQuarter(millions, except per share amounts and ratios; unaudited) 2026  2025 Change 2026  2025 ChangeNet premiums written$6,772  $6,605 3 %$21,077 $20,076 5 %Net premiums earned$7,100  $6,954 2 %$21,573 $20,310 6 %Net income$779  $1,124 (31)%$3,311 $3,175 4 %Per share available to common shareholders$1.34  $1.91 (30)%$5.67 $5.40 5 %Total pretax net realized gains (losses) on securities$(13) $179 (107)%$604 $387 56 %Combined ratio 90.0   86.6 3.4 pts. 87.3  86.2 1.1 pts.Average diluted equivalent common shares 583.1   588.0 (1) % 584.2  587.8 (1)%  June 30,(thousands; unaudited)
2026 2025 % ChangePolicies in Force     Personal Lines     Agency – auto11,211 10,423 8Direct – auto16,721 15,245 10Special lines7,297 6,850 7Property3,631 3,608 1Total Personal Lines38,860 36,126 8Commercial Lines1,226 1,189 3Total40,086 37,315 7      
See Progressive’s complete monthly earnings release for additional information.

About Progressive

Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is a leading seller of personal auto, commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers in the United States. 

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

PDF available: Progressive June 2026 Complete Earnings Release

July 13, 2026 Friday's MarketsS&P 500
7,575 (+0.42%)Nasdaq
26,282 (+0.29%)Dow
52,637 (+0.29%)Bitcoin
$63,700 (+0.69%)

Source: Image created by Jester AI.

1. Netflix Heads Up the Week's Team Rule Breakers Earnings Netflix (NFLX 2.76%) – a Foundational Stock in Stock Advisor, and recommended by both Team Hidden Gems and Team Rule Breakers – brings us a Q2 update Thursday. The stock has fallen in 2026, despite a good start to the year, with management chasing a doubling in annual advertising revenue. ASML (ASML 0.40%) – beating the S&P 500 by 111% since March 2025's SA recommendation – is due to post Q2 earnings Wednesday morning, after beating expectations and lifting its full-year sales target in Q1. Expanding factory output is key now, following a rush of AI-driven chip orders for 2027. Intuitive Surgical (ISRG 1.16%) – a Rule Breakers Foundational Stock – will report Q2 figures Thursday, with the robotic-assisted surgery pioneer off to a healthy start in 2026. Watch for progress on upgrading client hospitals to da Vinci 5, and developments in AI tools. 2. Selected Q2 Earnings from Team Hidden Gems Recs U.S. Bancorp (USB +0.82%) reveals quarterly progress Thursday, after posting a 4.1% year-over-year (YoY) rise in net interest income in Q1. Management expects revenue growth between 4% and 6% for the full year. Other banks reporting this week include JPMorgan Chase (JPM +0.30%), Wells Fargo (WFC +0.29%), Bank of America (BAC +0.71%), Goldman Sachs (GS 0.07%), and Citigroup (C +0.87%) – all on Tuesday. Progressive (PGR +0.47%) provides its latest update Wednesday, after Q1 showed strong policy growth and higher earnings – with net income and EPS both up close to 10% YoY. Prologis (PLD 0.35%), recommended in Hidden Gems and Dividend Investor, reports Thursday, with the year so far dominated by land acquisitions to pursue its big push into the data center business.

3. Markets Uncertain as Inflation Looms

Markets ended on a high note Friday, after SK Hynix (SKHY +0.00%) climbed 13% following its IPO debut – though the Korean stock fell in morning trading today. The S&P 500 gained 1.2% over the week and the Nasdaq rose 1.7%. Futures dipped this morning as the U.S. and Iran continued to trade strikes, with the S&P 500 down 0.5% and the Nasdaq losing 1.4% in early trade.

Price rises set to slow – a little: Major banks lead off the new earnings season, as inflation hits the headlines again. The consumer price index (CPI) print is due Tuesday, expected to show a slowing to 3.8% year over year from May's 4.2% rise. Analysts expect core CPI dipping slightly, from 2.9% YoY to 2.8%. The producer price index update follows Wednesday, having hit 6.5% in May against the prior-year period. New Fed chair in the hot seat: Kevin Warsh testifies before Congress on Tuesday and Wednesday, following the latest CPI and PPI releases respectively, as stubbornly high inflation raises the chances of an interest rate hike. 4. Today's Take: The Risk You Never Noticed

I have a feeling I'll be repeating some of my colleagues here, but it's worthwhile to just drive the point home: The riskiest thing you can do is not invest. And it's surprisingly easy! Bull markets look expensive, bear markets look scary, and volatile markets make you want to wait and see what tomorrow will bring.-- Karl Thiel Team Rule Breakers

5. Your Take Which company's earnings are you most interested in following this quarter, and why?

Share with friends and family, or become a member to hear what your fellow Fools are saying!

Read Next

Progressive (PGR - Free Report) closed the most recent trading day at $234.40, moving +1.18% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 1.16%.

The insurer's stock has climbed by 15.69% in the past month, exceeding the Finance sector's gain of 5.72% and the S&P 500's gain of 2.14%.

Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. On that day, Progressive is projected to report earnings of $4.56 per share, which would represent a year-over-year decline of 6.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.12 billion, up 6.95% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.26 per share and a revenue of $92.89 billion, representing changes of -5.42% and +6.84%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Progressive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.55% higher. Progressive currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Progressive has a Forward P/E ratio of 13.42 right now. For comparison, its industry has an average Forward P/E of 12.05, which means Progressive is trading at a premium to the group.

One should further note that PGR currently holds a PEG ratio of 4.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. PGR's industry had an average PEG ratio of 2.52 as of yesterday's close.

The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 108, placing it within the top 44% of over 250 industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Investors seeking steady financial exposure face a choice between niche mortgage specialist Essent Group (ESNT +0.51%) and the diversified property and casualty giant Progressive (PGR +2.88%) as they head into 2026.

While both companies operate as insurers, they occupy very different corners of the financial landscape. Essent protects lenders against mortgage defaults, whereas Progressive provides broad coverage for vehicles and homes. This comparison evaluates which business model provides the better balance of growth and stability for your holdings.

The case for EssentEssent Group provides private mortgage insurance to mortgage lenders, including depository institutions and credit unions. The company focuses on single-family mortgage loans, helping borrowers with lower down payments secure financing while protecting lenders from losses. Its top ten customers generated about 59% of new insurance written in late 2025. One specific customer accounts for more than 10% of total revenue. Customer concentration like this adds a layer of risk to the business.

In FY 2025, revenue reached approximately $1.26 billion, a slight increase of from the prior year. Despite essentially flat revenue growth, the company generated net income of nearly $690.0 million, down about $40 million from 2024. This performance came during a period of steady demand for housing finance despite fluctuating interest rates.

As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 0.1x. This ratio measures total debt relative to shareholders’ equity, and a low figure like this indicates that the company relies very little on borrowed funds.

The case for ProgressiveProgressive operates within the competitive landscape of insurance stocks, selling auto, home, and commercial protection. It reaches customers through direct channels like mobile apps and websites, as well as a vast network of independent agents. The company has a significant commercial presence, where its transportation network business accounts for roughly 14% of its commercial premiums. It remains a leader in using data to price risk more accurately than many rivals.

During FY 2025, revenue reached nearly $83.2 billion, representing a robust 12% growth over the previous year. The company reported a net income of $11.3 billion for the period. Its net margin was roughly 13.6%, a significant increase over prior years. This expansion in profitability suggests the company successfully adjusted its pricing to keep up with rising repair and medical costs.

Based on the December 2025 balance sheet, the debt-to-equity ratio was approximately 0.3x.

Risk profile comparisonEssent faces intense competition from other private mortgage insurers and government-supported programs like the FHA. Its business is highly sensitive to macroeconomic conditions, particularly mortgage interest rates and housing affordability. Because the company relies on a small number of large lenders, the loss of any major partner could significantly hurt its revenue. Additionally, regulatory changes regarding capital standards or housing finance reform could disrupt its core operations.

Progressive must navigate a highly competitive property and casualty market featuring rivals like The Allstate Corp (ALL +2.75%) and The Travelers Companies (TRV +2.30%). The company is exposed to unpredictable catastrophe risks, such as hurricanes or wildfires, which climate change may make more frequent. Profitability depends on the accuracy of its loss reserves in an inflationary environment where repair costs fluctuate. It also faces a complex legal environment with ongoing litigation that can impact its business practices and bottom line.

Valuation comparisonInvestors must decide between the discounted earnings multiple offered by Essent and the premium valuation that Progressive commands for its rapid revenue growth.

MetricEssentProgressiveSector BenchmarkForward P/E8.9x13.8x17.3xP/S ratio4.8x1.5xSector benchmark uses the SPDR XLF sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Essent is seen tallying revenue of $1.37 billion in 2026, a rise of about 9% as sluggish homebuying and mortgage refinancing crimp business. Net income is expected to decline to $663 million, a drop of about 4%. The business still has a health profit margin. The lack of housing affordability is raising concerns about lenders taking on more risk, extending mortgages to consumers who may have been denied in the past. Essent generally has a strong buyer, with an average credit rating of 745, which means the real risk is someone losing their job. Given the labor force’s 50-year low in participation rate, it suggests that people have given up hunting for work, which could trickle down to more bad loans affecting Essent.

Progressive, meanwhile, should see about a 6% rise in revenue to $88 billion in 2026. Net income is expected to drop about 8% to $10.4 billion. Higher fuel prices mean Progressive is tapping the brakes a bit on the scale of its price hikes for commercial drivers. The company continues to gain market share in the personal auto sector and is generally aggressive there. Profits are being clipped by that, with marketing spend expected to grow by 20% this year. The headwinds for American consumers are affecting businesses, but Progressive has shown it is able to weather downturns.

Not to equate the two periods in terms of risk, but the financial crisis of 2008 showed that the housing mortgage market is a great one until it isn’t. Choosing between Essent Group and Progressive probably comes down to your view of the economy and where it’s headed in the next year. Given the ‘K-shaped’ economy where most Americans are doing worse off, and hints that consumers are starting to feel the pinch in their wallets more, that suggests there could be risk ahead for mortgages, and therefore for Essent.

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Progressive (PGR - Free Report) , which belongs to the Zacks Insurance - Property and Casualty industry, could be a great candidate to consider.

This insurer has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 3.83%.

For the last reported quarter, Progressive came out with earnings of $4.96 per share versus the Zacks Consensus Estimate of $4.84 per share, representing a surprise of 2.48%. For the previous quarter, the company was expected to post earnings of $4.44 per share and it actually produced earnings of $4.67 per share, delivering a surprise of 5.18%.

Price and EPS Surprise

For Progressive, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Progressive has an Earnings ESP of +5.49% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.

With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

There's no question that a recession could be a problem for Progressive (PGR +4.05%). If that economic downturn led to a bear market, it would be an even heavier burden. However, neither a recession nor a bear market is likely to derail Progressive as a business for very long. And a bear market might actually be a long-term opportunity for the auto insurance company. Here's why I wouldn't bet against Progressive in a recession.

What does Progressive do? Progressive largely sells auto insurance. It collects premiums up front and pays claims later. In the meantime, it gets to keep the cash, which is known as the float, and invest it. There's an important feature of auto insurance: You legally can't drive a car without it. So while a recession might be a headwind, consumers aren't going to stop buying auto insurance in large numbers. In this way, the business is fairly resilient.

Image source: Getty Images.

That said, the float is equally important to the story. At the end of the first quarter of 2026, Progressive had an investment portfolio of $96 billion. More than 90% of that portfolio was invested in bonds. That puts the company in a very strong position to weather financial adversity, noting that it generated over $1.5 billion in investment income in the quarter.

This, however, is where the story gets interesting. Recessions are often accompanied by bear markets. With so much of its portfolio in bonds and premiums still coming in regardless of the economic or market environment, a bear market could give Progressive the opportunity to lean more heavily into stocks. That, in turn, would provide greater upside potential when the next bull market arrived. Every bear market in history has been followed by a bull market, eventually.

Today's Change

(

4.05

%) $

8.72

Current Price

$

224.26

So, a recession could actually create more opportunities for Progressive and its shareholders. And if the stock gets dragged down with the rest of the market during a bear market, it could actually be an opportunity for new investors to jump aboard Progressive at more attractive prices.

Think long-term with Progressive Progressive was founded in 1937, so it isn't quite 100 years old. But the insurer has certainly proven it knows how to survive through economic and market volatility. Given Progressive's current portfolio and the cash it is generating, the company appears well prepared for the next recession and bear market. I wouldn't bet against the insurer when times get tough again, but I might consider buying it.

Progressive (PGR - Free Report) ended the recent trading session at $207.38, demonstrating a +1.23% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 1.33%.

Coming into today, shares of the insurer had gained 2.69% in the past month. In that same time, the Finance sector gained 4.79%, while the S&P 500 gained 2.02%.

The upcoming earnings release of Progressive will be of great interest to investors. In that report, analysts expect Progressive to post earnings of $4.47 per share. This would mark a year-over-year decline of 8.4%. Our most recent consensus estimate is calling for quarterly revenue of $23.03 billion, up 6.55% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $16.82 per share and revenue of $92.97 billion, which would represent changes of -7.84% and +6.94%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.68% upward. Progressive presently features a Zacks Rank of #3 (Hold).

Looking at its valuation, Progressive is holding a Forward P/E ratio of 12.18. This expresses a premium compared to the average Forward P/E of 10.99 of its industry.

We can also see that PGR currently has a PEG ratio of 6.31. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Insurance - Property and Casualty industry stood at 2.33 at the close of the market yesterday.

The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

MAYFIELD VILLAGE, OHIO, June 17, 2026 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) (the “Company”) announced that Pat Callahan intends to retire from his role as the Company’s Personal Lines President after almost 24 years with the Company. Mr. Callahan will continue to serve in his current role until January 2027, and will continue to advise the Company on a part-time basis afterward. The Company will conduct an internal search for Mr. Callahan’s successor.

To support a smooth transition, Lori Niederst, currently CRM President, will move into a newly created role of Chief Personal Lines Officer, overseeing Personal Lines and CRM operations. Heather Day, currently General Manager, Customer Experience Strategy in the CRM organization, will move into the CRM President role in July.

“Pat has been a critical force behind our growth to an $80 billion company while consistently achieving our goal of a 96 combined ratio. He has been an incredible teacher, partner and mentor to me, and I appreciate that he will continue to advise me and my team after he retires from his current role,” said Tricia Griffith, the Company’s Chief Executive Officer, “At the same time, I am excited about the future. Lori brings a wealth of experience to her new role, having been CRM President and Chief Human Resources Officer, and having held HR roles in Claims. Having time to learn from Pat will round out her experiences. Heather stepping into the CRM President role will provide consistency for that organization and an opportunity for her to continue to grow and develop. Progressive has focused for many years on employee growth and development, which helps create the strong and deep bench of talent that allows for orderly transitions in our senior leadership roles,” Mrs. Griffith added.

About Progressive

Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is a leading seller of personal auto, commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers in the United States. 

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

Company Contact:
Julianna Paterra
(231) 600-3060
[email protected]

The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com