Progressive announces Q3 EPS of $4.45, below consensus estimate of $5.05
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 15 2025
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- Net Premiums Written: The company reported net premiums written of $21.4 billion, an increase from $19.5 billion the previous year.
- Net Premiums Earned: Net premiums earned rose to $20.8 billion, up from $18.3 billion last year.
- Combined Ratio: The combined ratio was reported at 89.5%, slightly higher than the 89% from the previous year.
- Year-over-Year Growth: Overall, the company experienced growth in both net premiums written and earned compared to the previous year.
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Analyst Views on PGR
Wall Street analysts forecast PGR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PGR is 257.11 USD with a low forecast of 214.00 USD and a high forecast of 328.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
9 Buy
6 Hold
1 Sell
Moderate Buy
Current: 212.740
Low
214.00
Averages
257.11
High
328.00
Current: 212.740
Low
214.00
Averages
257.11
High
328.00
About PGR
The Progressive Corporation is an insurance holding company, which has insurance and non-insurance subsidiaries and affiliates. The Company’s segments include Personal Lines, Commercial Lines and Other indemnity. The Personal Lines segment writes insurance for personal autos and special lines products. Its special lines of products include recreational vehicles, such as motorcycles, RVs, and watercraft. Its Personal Lines products are sold through both the agency and direct channels. The Commercial Lines segment writes auto-related liability and physical damage insurance, business-related general liability and commercial property insurance predominately for small businesses, and workers’ compensation insurance primarily for the transportation industry. Its reinsurance activity includes both transactions which are regulated and those that are non-regulated. It offers shopping tools and services, such as Name Your Price, Snapshot, and HomeQuote Explorer.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Progressive Reports Strong Q4 Earnings, Analysts Adjust Price Targets
- Strong Earnings: Progressive reported Q4 earnings of $4.67 per share, surpassing the analyst consensus of $4.41, indicating robust profitability and reinforcing its market position in the insurance sector.
- Sales Growth: The company achieved quarterly sales of $21.093 billion, exceeding the analyst estimate of $20.101 billion, reflecting solid business expansion and a growing customer base, enhancing future revenue potential.
- Minor Stock Movement: Following the earnings announcement, Progressive's shares rose 0.1% to $212.76 in pre-market trading, indicating a positive market reaction to the financial results, although the overall increase was modest.
- Analyst Price Target Adjustments: Analysts from BMO Capital and Wells Fargo lowered their price targets to $232 and $220 respectively while maintaining Market Perform and Equal-Weight ratings, reflecting a cautious outlook on future market conditions.
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Progressive CFO John Sauerland to Retire, Successor Named
- Executive Transition: Progressive announced that CFO John Sauerland will retire on July 3, with Chief Strategy Officer Andrew Quigg set to succeed him, a move expected to impact the company's financial strategy and operational efficiency.
- Earnings Performance: The insurer reported mixed earnings today, yet shares rose 3.09% in pre-market trading to $214.52, indicating market confidence in the company's future performance despite challenges.
- Long-Term Growth Potential: Progressive is viewed as a long-term compounder built on underwriting discipline, and despite current market pressures, its stable business model and market position may provide investors with sustained returns.
- Market Positioning: The company’s strategy of sacrificing some margin for top-line growth may affect short-term profitability in the current economic environment, but it also lays the groundwork for future market share expansion.
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