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The Progressive Corporation

PGR · NYSE

Market open$208.46$2.66 (+1.29%)

Key statistics

Previous close$205.80
Open$208.91
Day high$211.86
Day low$206.94
52-week high$254.93
52-week low$189.20
Market cap121.20B
Volume2.50M
Average volume3.24M
P/E ratio11.47
Forward P/E—
EPS18.17
Dividend yield+6.67%

Market context

Why it moved

PGR shares rebounded modestly as investors reassessed the stock's valuation following its recent sharp post-earnings selloff, with analysts noting the shares now look fairly valued after the pullback, and positive sector sentiment was boosted by Chubb and Travelers both reporting strong Q2 results with lower catastrophe losses.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026Progressive Corporation shares are trading modestly higher, partially recovering from a 3.1% drop earlier this week that was triggered by a JPMorgan downgrade to Neutral with a $250 price target on valuation concerns. The rebound comes as investors digest mixed Q2 results: net premiums written rose 5%, policies in force grew 7% year-over-year, and quarterly net income increased 4%, but June net income fell 31% and the combined ratio worsened, raising margin pressure concerns. Analyst sentiment remains cautious, with a consensus Hold rating and average price target of ~$235, though Bank of America maintained a Buy with a trimmed target of $308. Peer insurer Travelers posted a strong Q2 EPS beat today, providing a supportive read-across for the P&C sector.

1.3022

July 17, 2026Progressive closed modestly higher, partially rebounding after shedding roughly 9% on July 15 following its Q2 2026 earnings release. While quarterly EPS of $5.67 beat estimates and net premiums written grew 5%, investors were rattled by a worsening combined ratio (87.3 vs. 86.2 a year ago) and a sharp 31% drop in June net income. Multiple analysts slashed price targets post-earnings — BMO cut to $205, Wells Fargo lowered to $198 (Underweight), Goldman Sachs trimmed to $225, and Keefe Bruyette reduced to $226 — reflecting concern that valuation leaves limited near-term upside even as policy growth (up 7% YoY to 40.1M) remains solid.

0.2826

July 16, 2026Progressive plunged nearly 10% after reporting mixed Q2 2026 results — while quarterly EPS of $5.67 beat FactSet estimates of $5.35 and net premiums earned rose 6% year over year, investors fixated on a sharp 31% drop in June net income to $779 million and a worsening monthly combined ratio of 90.0 versus 86.6 a year earlier. The selloff was compounded by a JPMorgan downgrade to Neutral from Overweight the prior session on valuation concerns, and Evercore ISI trimming its price target to $230 from $240, leaving the stock trading well below Wall Street's consensus target amid elevated volume more than double the daily average.

-9.4271

July 15, 2026Progressive fell sharply after JPMorgan downgraded the stock to Neutral from Overweight, setting a $250 price target — a move that came alongside sector-wide concerns as RBC Capital Markets flagged softer pricing and elevated catastrophe losses heading into Q2 earnings. Progressive's own latest monthly report showed a deteriorating combined ratio driven by severe weather-related catastrophe losses and persistent loss-cost inflation, prompting several analysts to reassess near-term margin sustainability. With Q2 earnings due July 15 and the options market pricing in a ~3.9% implied move, investors are bracing for more clarity on underwriting trends. Jefferies also adjusted its price target to $228 from $213, maintaining a Hold rating. Shares recovered slightly in after-hours trading.

-3.3692

July 14, 2026Progressive closed modestly higher, outperforming the broader market which slipped on renewed U.S.-Iran military tensions and a chip stock selloff. Investors are increasingly focused on the insurer's upcoming Q2 earnings (estimated July 15), with multiple analysts recently raising price targets — Mizuho lifted its target to $243 and Dowling & Partners bumped its FY2026 EPS estimate to $18.00, above consensus. A newly published AM Best report highlighting the U.S. P&C sector's strongest underwriting performance in a decade further supported the constructive backdrop for Progressive, even as the consensus rating remains Hold and some analysts flag the stock as fully valued near current levels.

1.6297

July 11, 2026Progressive Corporation edged modestly higher, supported by a fresh analyst price target lift from Evercore ISI, which raised its target to $240 from $230 while maintaining an In-Line rating. Mizuho similarly raised its target to $243 from $217, and Keefe, Bruyette & Woods lifted its target to $231 from $210, though all three maintained neutral or market-perform stances, keeping the consensus at Hold. Investor attention is also turning to Progressive's upcoming Q2'26 earnings, with analysts forecasting EPS of $4.73 on revenue of $21.53B—a sequential step down from Q1's $4.60 EPS beat. Several insiders sold shares in June, while institutional buying activity continued in Q1.

0.5228

July 10, 2026Progressive closed modestly lower as the company reported Q2 2026 earnings on July 9, with analysts watching closely after Q1 beat EPS estimates ($4.80 vs. $4.67 expected) but missed revenue targets. Mizuho raised its price target to $243 (from $217) while maintaining a Neutral rating, reflecting cautious optimism ahead of results, with the consensus Hold rating and mean target of ~$237. Broader macro headwinds — including renewed U.S.-Iran military strikes that pushed oil higher and reignited inflation concerns — weighed on financial sector sentiment, with the XLF ETF also closing lower.

-1.4513

July 9, 2026Progressive closed modestly lower, edging down alongside broader financial sector weakness as escalating U.S.-Iran tensions rattled markets and sent oil prices surging over 5%, stoking inflation fears ahead of Fed minutes release. The softness came despite a constructive analyst backdrop — Morgan Stanley highlighted Progressive and peers as positioned for strong underwriting into 2026-2027 due to favorable tort reform trends, while Keefe, Bruyette & Woods raised its price target to $231. Investors are also closely watching tomorrow's Q2 earnings report, with consensus estimates calling for $4.73 EPS and $21.53B in revenue, as Autonomous Research flagged the key debate around Progressive's balance between margin preservation and policy growth.

-0.6399

Yahoo Finance UK · July 17, 2026Progressive (PGR) Stock Falls After Earnings Beat Meets Profit And Margin PressureThe Globe and Mail · July 16, 2026Analysts Have Conflicting Sentiments on These Financial Companies: Progressive (PGR) and Everest Group (EG)Moomoo · July 15, 2026Progressive 2Q-End Policies in Force Up 7% >PGRInvesting.com · July 15, 2026Progressive beats Q2 profit estimates; shares fall 4% premarketQuiver Quantitative · July 14, 2026Why Progressive (PGR) Stock Is Down TodayInvesting.com · May 5, 2026Earnings call transcript: Progressive Corp Q1 2026 shows strong revenue growthStock Titan · April 27, 2026Progressive's CEO and CFO take investor questions on May 5 webcastStock Titan · February 24, 2026Progressive CEO and CFO to field investor questions on capital March 3
Benzinga · July 16, 2026B of A Securities Maintains Buy on Progressive, Lowers Price Target to $308
Mt Newswire · July 16, 2026Goldman Sachs Adjusts Price Target on Progressive to $225 From $239, Maintains Buy Rating
Benzinga · July 16, 2026Progressive Analysts Slash Their Forecasts After Q2 Results
Mt Newswire · July 16, 2026BofA Securities Adjusts Price Target on Progressive to $308 From $313
Benzinga · July 16, 2026Keefe, Bruyette & Woods Maintains Market Perform on Progressive, Lowers Price Target to $226
Mt Newswire · July 16, 2026BMO Capital Adjusts Price Target on Progressive to $205 From $220, Maintains Market Perform Rating
Mt Newswire · July 16, 2026Piper Sandler Adjusts Price Target on Progressive to $241 From $242, Maintains Overweight Rating
Mt Newswire · July 16, 2026Wells Fargo Adjusts Price Target on Progressive to $198 From $205, Maintains Underweight Rating

Peers

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