The Progressive Corp. (NYSE:PGR) on Wednesday reported mixed second-quarter 2026 results.

Adjusted earnings per share were $4.86, beating the analyst consensus estimate of $4.77. Revenue, measured as net premiums earned, increased 6% year over year to $21.57 billion but narrowly missed the consensus estimate of $21.60 billion.

For the month of June, Progressive reported net income of $779 million, down 31% from a year earlier. Monthly earnings per share declined to $1.34 from $1.91, while the monthly combined ratio increased to 90.0 from 86.6.

Progressive shares fell 0.3% to $204.62 in pre-market trading.

These analysts made changes to their price targets on Progressive following earnings announcement.

  • Keefe, Bruyette & Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.
  • BMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.

Considering buying PGR stock? Here’s what analysts think:

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