Progressive Corporation reports increased premiums but a significant drop in net income for September and Q3 2025.
Quiver AI Summary
The Progressive Corporation announced its financial results for September 2025, reporting an 8% increase in net premiums written to $7.128 billion and a 9% rise in net premiums earned to $6.827 billion compared to the same month in the previous year. For the quarter, net income grew by 12% to $2.615 billion, but net income for September itself dropped by 48% to $305 million. The company experienced a deterioration in its combined ratio, which climbed to 100.4, indicating higher costs relative to premiums earned. Additionally, the number of policies in force increased by 12% overall, with significant growth in personal auto insurance policies. Progressive continues to be a leading provider of various insurance products and maintains a commitment to customer service through multiple channels.
Potential Positives
- Net premiums written increased by 8% in September and 10% in the quarter, indicating strong growth in the company's core business.
- Net premiums earned rose by 9% in September and 14% in the quarter, reflecting improved revenue generation.
- Total policies in force increased by 12% compared to the previous year, showcasing the company's expanding customer base.
- Despite a decrease in net income, the company achieved a 12% increase in net income for the quarter compared to the previous year, highlighting resilience in overall financial performance.
Potential Negatives
- Net income decreased significantly by 48% compared to the same quarter last year, indicating potential financial instability.
- Per share earnings available to common shareholders also fell by 48%, which could negatively affect investor confidence and stock valuation.
- The combined ratio worsened to 100.4 from 93.4, suggesting increasing costs relative to premiums earned, which may indicate operational inefficiencies.
FAQ
What were Progressive's net premiums written in September 2025?
Progressive reported net premiums written of $7,128 million in September 2025, an 8% increase from the previous year.
How much did Progressive's net income change in third quarter 2025?
Net income for the third quarter of 2025 was $2,615 million, a 12% increase compared to $2,334 million in 2024.
What is the combined ratio reported by Progressive for September 2025?
The combined ratio for Progressive in September 2025 was 100.4, showing a 7-point increase from 93.4 in September 2024.
How many policies does Progressive have in force as of September 2025?
As of September 2025, Progressive had a total of 38,078 thousand policies in force, a 12% increase year-over-year.
How does Progressive Insurance facilitate customer access?
Progressive makes it easy for customers to access services online, by phone, via mobile app, or in-person with local agents.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PGR Congressional Stock Trading
Members of Congress have traded $PGR stock 9 times in the past 6 months. Of those trades, 3 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $PGR stock by members of Congress over the last 6 months:
- REPRESENTATIVE VAL T. HOYLE has traded it 2 times. They made 1 purchase worth up to $15,000 on 06/06 and 1 sale worth up to $15,000 on 09/23.
- REPRESENTATIVE BYRON DONALDS has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 09/04.
- REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 08/14.
- REPRESENTATIVE DAVID TAYLOR purchased up to $15,000 on 07/18.
- REPRESENTATIVE LISA C. MCCLAIN has traded it 2 times. They made 1 purchase worth up to $15,000 on 07/10 and 1 sale worth up to $15,000 on 07/16.
- REPRESENTATIVE JEFFERSON SHREVE sold up to $100,000 on 05/12.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$PGR Insider Trading Activity
$PGR insiders have traded $PGR stock on the open market 24 times in the past 6 months. Of those trades, 0 have been purchases and 24 have been sales.
Here’s a breakdown of recent trading of $PGR stock by insiders over the last 6 months:
- SUSAN PATRICIA GRIFFITH (President and CEO) has made 0 purchases and 2 sales selling 61,319 shares for an estimated $14,967,190.
- JOHN P SAUERLAND (VP and Chief Financial Officer) has made 0 purchases and 4 sales selling 46,664 shares for an estimated $12,230,835.
- PATRICK K CALLAHAN (Personal Lines President) has made 0 purchases and 3 sales selling 18,884 shares for an estimated $4,621,928.
- JOHN JO MURPHY (Claims President) has made 0 purchases and 4 sales selling 10,654 shares for an estimated $2,687,542.
- KAREN BAILO (Commercial Lines President) sold 8,922 shares for an estimated $2,223,719
- LORI A NIEDERST (CRM President) sold 8,063 shares for an estimated $2,017,201
- STEVEN BROZ (Chief Information Officer) has made 0 purchases and 5 sales selling 6,491 shares for an estimated $1,658,443.
- STUART B BURGDOERFER sold 3,681 shares for an estimated $958,642
- ANDREW J QUIGG (Chief Strategy Officer) sold 3,191 shares for an estimated $795,324
- DYKE KAHINA VAN sold 2,490 shares for an estimated $691,398
- JONATHAN S. BAUER (Chief Investment Officer) sold 2,391 shares for an estimated $595,932
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PGR Hedge Fund Activity
We have seen 929 institutional investors add shares of $PGR stock to their portfolio, and 800 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 5,020,583 shares (-9.5%) from their portfolio in Q2 2025, for an estimated $1,339,792,779
- FMR LLC added 2,838,026 shares (+24.4%) to their portfolio in Q2 2025, for an estimated $757,355,618
- CAPITAL RESEARCH GLOBAL INVESTORS added 2,796,421 shares (+46.2%) to their portfolio in Q2 2025, for an estimated $746,252,908
- ALLIANCEBERNSTEIN L.P. added 2,709,417 shares (+32.8%) to their portfolio in Q2 2025, for an estimated $723,035,020
- JPMORGAN CHASE & CO removed 2,665,941 shares (-14.8%) from their portfolio in Q2 2025, for an estimated $711,433,015
- CAPITAL INTERNATIONAL INVESTORS added 2,229,521 shares (+41.1%) to their portfolio in Q2 2025, for an estimated $594,969,974
- JANUS HENDERSON GROUP PLC removed 2,135,476 shares (-33.9%) from their portfolio in Q2 2025, for an estimated $569,873,125
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$PGR Analyst Ratings
Wall Street analysts have issued reports on $PGR in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- B of A Securities issued a "Buy" rating on 09/29/2025
- Jefferies issued a "Buy" rating on 08/11/2025
To track analyst ratings and price targets for $PGR, check out Quiver Quantitative's $PGR forecast page.
$PGR Price Targets
Multiple analysts have issued price targets for $PGR recently. We have seen 11 analysts offer price targets for $PGR in the last 6 months, with a median target of $273.0.
Here are some recent targets:
- Jimmy Bhullar from JP Morgan set a target price of $303.0 on 10/09/2025
- Elyse Greenspan from Wells Fargo set a target price of $266.0 on 10/08/2025
- Brian Meredith from UBS set a target price of $261.0 on 10/08/2025
- David Motemaden from Evercore ISI Group set a target price of $273.0 on 10/01/2025
- Joshua Shanker from B of A Securities set a target price of $350.0 on 09/29/2025
- Bob Huang from Morgan Stanley set a target price of $265.0 on 09/22/2025
- Michael Zaremski from BMO Capital set a target price of $252.0 on 09/18/2025
Full Release
MAYFIELD VILLAGE, OHIO, Oct. 15, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended September 30, 2025:
| September | Quarter | ||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2025 | 2024 | Change | 2025 | 2024 | Change | |||||||||||
| Net premiums written | $ | 7,128 | $ | 6,570 | 8 | % | $ | 21,384 | $ | 19,455 | 10 | % | |||||
| Net premiums earned | $ | 6,827 | $ | 6,263 | 9 | % | $ | 20,849 | $ | 18,297 | 14 | % | |||||
| Net income | $ | 305 | $ | 585 | (48 | ) | % | $ | 2,615 | $ | 2,334 | 12 | % | ||||
| Per share available to common shareholders | $ | 0.52 | $ | 0.99 | (48 | ) | % | $ | 4.45 | $ | 3.97 | 12 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | 138 | $ | 121 | 14 | % | $ | 295 | $ | 288 | 2 | % | |||||
| Combined ratio | 100.4 | 93.4 | 7.0 | pts. | 89.5 | 89.0 | 0.5 | pts. | |||||||||
| Average diluted equivalent common shares | 588.2 | 587.7 | 0 | % | 588.2 | 587.6 | 0 | % | |||||||||
| September 30, | |||||
| (thousands; unaudited) | 2025 | 2024 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 10,630 | 9,415 | 13 | ||
| Direct – auto | 15,619 | 13,388 | 17 | ||
| Special lines | 6,980 | 6,475 | 8 | ||
| Property | 3,651 | 3,460 | 6 | ||
| Total Personal Lines | 36,880 | 32,738 | 13 | ||
| Commercial Lines | 1,198 | 1,131 | 6 | ||
| Companywide | 38,078 | 33,869 | 12 | ||
See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.
About Progressive
Progressive Insurance ® makes it easy to understand, buy and use car insurance , home insurance , and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com , by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle , and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price ® , Snapshot ® , and HomeQuote Explorer ® .
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.
Company Contact:
Douglas S. Constantine
(440) 395-3707
[email protected]
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com
Download PDF: Progressive September 2025 Complete Earnings Release
