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

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.