Progressive Analysts Slash Their Forecasts After Q2 Results

Benzinga Earnings

07/16

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:

Photo via Shutterstock

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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.</p>\n<p>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.</p>\n<p>Progressive shares fell 0.3% to $204.62 in pre-market trading.</p>\n<p>These analysts made changes to their price targets on Progressive following earnings announcement.</p>\n<ul>\n<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.</li>\n<li>BMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.</li>\n</ul>\n<p><strong>Considering buying PGR stock? Here’s what analysts think:</strong></p>\n<figure><img decoding=\"async\" height=\"449\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-1024x449.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-1024x449.png 1024w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-300x132.png 300w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-768x337.png 768w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439.png 1225w\" width=\"1024\"/></figure>\n<p><em>Photo via Shutterstock</em></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Progressive Analysts Slash Their Forecasts After Q2 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nProgressive Analysts Slash Their Forecasts After Q2 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time\">2026-07-16 21:28</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p><strong>The Progressive Corp.</strong> (NYSE:PGR) on Wednesday reported mixed second-quarter 2026 results.</p>\n<p>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.</p>\n<p>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.</p>\n<p>Progressive shares fell 0.3% to $204.62 in pre-market trading.</p>\n<p>These analysts made changes to their price targets on Progressive following earnings announcement.</p>\n<ul>\n<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.</li>\n<li>BMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.</li>\n</ul>\n<p><strong>Considering buying PGR stock? Here’s what analysts think:</strong></p>\n<figure><img decoding=\"async\" height=\"449\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-1024x449.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-1024x449.png 1024w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-300x132.png 300w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-768x337.png 768w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439.png 1225w\" width=\"1024\"/></figure>\n<p><em>Photo via Shutterstock</em></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0731783394.SGD","symbol_name":"Fidelity Global Dividend A-MINCOME(G)-SGD","start_time":0,"source_url":"https://www.benzinga.com/analyst-stock-ratings/price-target/26/07/60495733/progressive-analysts-slash-their-forecasts-after-q2-results","article_id":"2651447561","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2651447561","pubTimestamp":1784208507,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga Earnings","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"A mixed Q2 for Progressive Corp. 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(NYSE:PGR) on Wednesday reported mixed second-quarter 2026 results.\nAdjusted 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.\nFor 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.\nProgressive shares fell 0.3% to $204.62 in pre-market trading.\nThese analysts made changes to their price targets on Progressive following earnings announcement.\n\nKeefe, Bruyette & Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.\nBMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.\n\nConsidering buying PGR stock? Here’s what analysts think:\n\nPhoto via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"express","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}