PGR

The Progressive Corp. is rated a 'Hold,' reflecting strong underwriting and durable demand but tempered by slowing premium growth and uncertain earnings momentum. PGR's Q3 2026 combined ratio improved to 88.7%, yet net premiums written grew just 4% YoY, with September monthly growth slowing to 2%. Valuation appears fair at a trailing P/E of 10.7x, but a weaker forward EPS outlook could pressure the multiple and limit upside.

Progressive is the leading auto insurer in the U.S., jumping into first place this year. It has beat its target goal of a 96% combined ratio for the part decade.

The Progressive's Q3 was a disappointment, but it isn't a sell signal for me. I'm still holding my shares, and I am maintaining my buy rating. Premium growth came in at 1%, auto policies dropped 31,000 in a month, and the underlying loss ratio hit 68.7, the highest in two years. The combined ratio sits at 88.7, or 91.1 without reserve releases, well under the sub-96 target. Every segment is under 96.

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Progressive's Q3 earnings beat estimates as higher premiums and an improved combined ratio boosted results, while September policy growth remained strong.

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Progressive (PGR) came out with quarterly earnings of $4.6 per share, beating the Zacks Consensus Estimate of $4.46 per share. This compares to earnings of $4.05 per share a year ago.

MAYFIELD VILLAGE, OHIO, Oct. 14, 2026 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended September 30, 2026:

Progressive's Q3 earnings are expected to rise 9.4%, aided by premium growth and higher investment income, but rising underwriting costs could weigh on results.

In the closing of the recent trading day, Progressive (PGR) stood at $218.98, denoting a +2.27% move from the preceding trading day.