Is Progressive Stock Underperforming the S&P 500?

State Farm will return $5B to auto policyholders via a one-time dividend and roll back rates in several states. Progressive (PGR) and Allstate (ALL) reported strong Q2 earnings with combined ratios below 87. PGR earned $3.31B net income, while ALL returned $3.5B to shareholders. State Farm's move reflects improved loss trends and surplus. PGR gained 7% more policies year over year.

The Progressive Corporation (PGR) reported a 4% stock rise on Wednesday, despite a net income decline to $961M from $1.09B last year. Net premiums written increased 5% to $7.441B. Shares are up 3.57% at $214.52, with a 52-week range of $189.20 to $254.93.

Progressive Corp. reported a 12% year-over-year decline in July 2026 net income to $961 million, or $1.65 per share, from $1.09 billion, or $1.85 per share, in July 2025, despite a 5% increase in premiums.

Progressive (PGR) shares rose about 3% after Morgan Stanley upgraded the insurer to Equal-weight from Underweight and raised its price target to $210 from $190, citing stronger premium growth versus the sector and a valuation reset after a prior decline. The stock closed at $213.84, up 3.3% on the day.

Morgan Stanley upgraded Progressive (PGR) to Equalweight from Underweight and raised its price target to $210 from $190, according to the note. Progressive is a US-focused insurer. The article also lists a last close of $207.07 and an average target price of $232.67, with Q2 2026 earnings due Aug. 4.

Progressive Corp (NYSE:PGR) shares fell about 9% after the insurer reported June and second-quarter results. June premiums growth and earnings declined year over year, while Q2 EPS rose to $5.67 (vs $5.30 expected). Net premiums written were $21.08B, below estimates, and investors cited slowing growth and competitive pressure from GEICO.