PGR's revenue growth has cooled from 26.7% in 2024Q3 to 3.0% in 2026Q3, suggesting the rate-driven expansion phase is maturing as the pricing cycle softens.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth has decelerated sharply from 26.7% to 3.0% over recent quarters while the combined ratio has ranged between 81.9% and 85.2%, suggesting underwriting margins are compressing from their prior levels.
Progressive’s usage‑based insurance leverages telematics and data analytics to personalize premiums, creating a significant data moat that enhances underwriting and customer retention. The company’s technology edge drives lower loss ratios and higher customer acquisition efficiency.
Progressive consistently outperforms peers in its combined ratio, reflecting superior underwriting and claims management. Profit margins have improved and earnings per share have grown substantially, underscoring operational excellence.
As the second‑largest personal auto insurer in the U.S., Progressive holds nearly 27 million personal auto policies in force. Its hybrid direct‑to‑consumer and independent‑agent distribution appeals to a broad customer base.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 14, 2026 | $4.37+0.5% vs $4.35 | $22.3B-1.4% vs $22.6B |
Q3 2026 Jul 15, 2026 | $4.85+4.5% vs $4.64 | $21.1B+8.2% vs $19.5B |
Q2 2026 Apr 15, 2026 | $4.81-0.8% vs $4.85 | $23.6B+2.9% vs $23.0B |
Q1 2026 Jan 28, 2026 | $4.67+5.2% vs $4.44 | $19.5B-3.9% vs $20.3B |
Zacks.com users have recently been watching Progressive (PGR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
For much of 2026, Wall Street piled into the technology giants that drive the benchmark S&P 500 and left insurers in the background.
Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of The Progressive Corporation (NYSE: PGR) during the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,033 shares of the insurance provider's stock, valued at approximately $3,324,000.
Progressive NYSE: PGR reported continued premium and policy growth in the third quarter of 2026 while emphasizing underwriting discipline, technology investment and expansion opportunities in bundled auto and home insurance, commercial lines and small business coverage.
Benchmark PGR against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for The Progressive Corporation (PGR)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $227.77 | $132.61B | 11.41 | 16.32% | 12.67% | 35.44% | 2.14% | |
| $254.81 | $65.59B | 5.59 | 4.64% | 16.76% | 36.34% | 1.54% | |
| $395.20 | $82.43B | 9.99 | 5.17% | 17.03% | 26.24% | 1.09% | |
| $133.99 | $36.73B | 8.22 | 7.1% | 15.88% | 24.13% | 1.54% | |
| $273.07 | $12.61B | 24.79 | 7.17% | 13.97% | 23.86% | 1.77% | |
| $33.39 | $1.97B | -3.97 | 3.62% | -10.83% | -19.42% | 3.81% |
The Progressive Corporation (PGR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
The Progressive Corporation (PGR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 14, 2026·SEC
Jul 15, 2026·SEC
Jun 17, 2026·SEC
Mar 2, 2026·SEC
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The Progressive Corporation (PGR) stock FAQ — growth, dividends, profitability & financials explained
The Progressive Corporation (PGR) grew revenue by 7.7% over the trailing twelve months, compared with the twelve months before.
Yes. The Progressive Corporation (PGR) earned $11.62B in net income over the trailing twelve months (a 12.7% net margin).
Yes. The Progressive Corporation (PGR) pays a dividend that yields 2.14% at the current price, a moderate yield.
The Progressive Corporation (PGR) had a return on equity (ROE) of 35.4% over the trailing twelve months. That is well above the market's typical 10-15%.
The Progressive Corporation (PGR) has a combined ratio of 83.8%. A ratio below 100% indicates underwriting profitability.
