Progressive Corporation reports increased net premiums, income, and policies in force for June and Q2 2025.
Quiver AI Summary
The Progressive Corporation announced strong financial results for June and the second quarter of 2025, with a 15% increase in net premiums written compared to June 2024, totaling $6.6 billion, and an 18% rise in net premiums earned at $20.3 billion for the quarter. Net income surged 40% in June to $1.1 billion and 118% for the quarter to $3.2 billion, leading to a corresponding rise in earnings per share. The company reported total pretax net realized gains in securities of $179 million for June, with a significant improvement in the combined ratio from 91.9 in Q2 2024 to 86.2 in Q2 2025. Progressive's policies in force also grew, particularly in personal lines, reflecting the company’s position as a leading insurer in various sectors.
Potential Positives
- Net income for the quarter increased significantly by 118% compared to the same quarter last year, indicating strong financial performance.
- Net premiums written rose by 15% for the month and 12% for the quarter, reflecting effective growth in business operations.
- The total number of policies in force increased by 15%, showcasing the company’s expanding customer base.
- Combined ratio improved significantly by 5.7 points year-over-year for the quarter, indicating better underwriting performance.
Potential Negatives
- Total pretax net realized gains (losses) on securities showed a significant decline from a gain of $179 million in June 2024 to a loss of $127 million in the quarter, indicating potential volatility or issues in investment performance.
- The combined ratio, while improved year-over-year for the quarter, showed a slight increase in June 2025 compared to June 2024, which may suggest rising costs or challenges in operational efficiency.
- Despite overall growth in premiums written and earned, the increase in policies in force for Personal Lines might not be sustainable, raising concerns about potential future profitability in a competitive market.
FAQ
What were Progressive’s net premiums written for June 2025?
Progressive reported net premiums written of $6,605 million for June 2025, a 15% increase from June 2024.
How much did Progressive earn in net income for the second quarter?
The company reported net income of $3,175 million for the second quarter of 2025, an increase of 118% from the previous year.
What is the combined ratio for Progressive in the second quarter of 2025?
Progressive's combined ratio for the second quarter of 2025 was 86.2, improving by 5.7 points compared to 2024.
How did Progressive's policies in force change from last year?
Progressive's total policies in force increased by 15%, reaching 37,315 thousand by June 30, 2025.
What type of insurance products does Progressive offer?
Progressive offers car insurance, home insurance, and various other protection needs for personal and commercial use.
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 8 times in the past 6 months. Of those trades, 5 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $PGR stock by members of Congress over the last 6 months:
- REPRESENTATIVE JEFFERSON SHREVE sold up to $100,000 on 05/12.
- REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 04/09.
- REPRESENTATIVE JULIE JOHNSON has traded it 4 times. They made 3 purchases worth up to $45,000 on 02/24, 02/14, 01/24 and 1 sale worth up to $15,000 on 04/07.
- REPRESENTATIVE BYRON DONALDS has traded it 2 times. They made 2 purchases worth up to $30,000 on 03/20 and 0 sales.
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:
- JOHN P SAUERLAND (VP and Chief Financial Officer) has made 0 purchases and 7 sales selling 61,542 shares for an estimated $16,539,061.
- SUSAN PATRICIA GRIFFITH (President and CEO) sold 11,021 shares for an estimated $2,681,299
- JEFFREY D KELLY sold 10,000 shares for an estimated $2,500,000
- JOHN JO MURPHY (Claims President) has made 0 purchases and 2 sales selling 6,275 shares for an estimated $1,595,004.
- PATRICK K CALLAHAN (Personal Lines President) sold 4,669 shares for an estimated $1,305,935
- STUART B BURGDOERFER sold 3,681 shares for an estimated $958,642
- LORI A NIEDERST (CRM President) sold 3,855 shares for an estimated $952,416
- JONATHAN S. BAUER (Chief Investment Officer) has made 0 purchases and 2 sales selling 2,923 shares for an estimated $824,178.
- DYKE KAHINA VAN sold 2,490 shares for an estimated $691,398
- STEVEN BROZ (Chief Information Officer) has made 0 purchases and 2 sales selling 2,534 shares for an estimated $681,886.
- KAREN BAILO (Commercial Lines President) sold 2,120 shares for an estimated $515,774
- ANDREW J QUIGG (Chief Strategy Officer) sold 962 shares for an estimated $234,044
- MARIANN WOJTKUN MARSHALL (Chief Accounting Officer) sold 585 shares for an estimated $142,324
- DEVIN C JOHNSON sold 400 shares for an estimated $110,016
- CARL G JOYCE (Chief Accounting Officer) sold 360 shares for an estimated $99,419
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PGR Hedge Fund Activity
We have seen 892 institutional investors add shares of $PGR stock to their portfolio, and 784 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GQG PARTNERS LLC added 3,174,632 shares (+61.4%) to their portfolio in Q1 2025, for an estimated $898,452,602
- GAMMA INVESTING LLC removed 3,033,130 shares (-99.6%) from their portfolio in Q2 2025, for an estimated $809,421,071
- WELLINGTON MANAGEMENT GROUP LLP removed 2,814,487 shares (-44.0%) from their portfolio in Q1 2025, for an estimated $796,527,965
- CAPITAL WORLD INVESTORS added 2,422,886 shares (+38.0%) to their portfolio in Q1 2025, for an estimated $685,700,966
- JPMORGAN CHASE & CO added 2,357,486 shares (+15.0%) to their portfolio in Q1 2025, for an estimated $667,192,112
- MORGAN STANLEY added 2,051,148 shares (+22.8%) to their portfolio in Q1 2025, for an estimated $580,495,395
- DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN added 1,693,735 shares (+215.3%) to their portfolio in Q1 2025, for an estimated $479,343,942
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 6 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Wells Fargo issued a "Overweight" rating on 06/20/2025
- Morgan Stanley issued a "Overweight" rating on 05/19/2025
- BMO Capital issued a "Outperform" rating on 04/17/2025
- Jefferies issued a "Buy" rating on 04/11/2025
- JP Morgan issued a "Overweight" rating on 04/08/2025
- Roth MKM issued a "Buy" rating on 02/25/2025
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 10 analysts offer price targets for $PGR in the last 6 months, with a median target of $289.0.
Here are some recent targets:
- Bob Huang from Morgan Stanley set a target price of $280.0 on 07/14/2025
- Brian Meredith from UBS set a target price of $280.0 on 07/09/2025
- Meyer Shields from Keefe, Bruyette & Woods set a target price of $290.0 on 07/09/2025
- Alex Scott from Barclays set a target price of $287.0 on 07/07/2025
- Elyse Greenspan from Wells Fargo set a target price of $333.0 on 06/20/2025
- Joshua Shanker from B of A Securities set a target price of $297.0 on 04/17/2025
- Michael Zaremski from BMO Capital set a target price of $288.0 on 04/17/2025
Full Release
MAYFIELD VILLAGE, OHIO, July 16, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended June 30, 2025:
| June | Quarter | |||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2025 | 2024 | Change | 2025 | 2024 | Change | ||||||||||
| Net premiums written | $ | 6,605 | $ | 5,749 | 15 | % | $ | 20,076 | $ | 17,902 | 12 | % | ||||
| Net premiums earned | $ | 6,954 | $ | 5,777 | 20 | % | $ | 20,310 | $ | 17,209 | 18 | % | ||||
| Net income | $ | 1,124 | $ | 803 | 40 | % | $ | 3,175 | $ | 1,459 | 118 | % | ||||
| Per share available to common shareholders | $ | 1.91 | $ | 1.37 | 40 | % | $ | 5.40 | $ | 2.48 | 118 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | 179 | $ | 22 | NM | $ | 387 | $ | (127) | (405) | % | |||||
| Combined ratio | 86.6 | 86.2 | 0.4 | pts. | 86.2 | 91.9 | (5.7) | pts. | ||||||||
| Average diluted equivalent common shares | 588.0 | 587.4 | 0 | % | 587.8 | 587.4 | 0 | % | ||||||||
| NM = Not Meaningful | ||||||||||||||||
| June 30, | |||||
|
(thousands; unaudited)
|
2025 | 2024 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 10,423 | 8,965 | 16 | ||
| Direct – auto | 15,245 | 12,576 | 21 | ||
| Special lines | 6,850 | 6,312 | 9 | ||
| Property | 3,608 | 3,339 | 8 | ||
| Total Personal Lines | 36,126 | 31,192 | 16 | ||
| Commercial Lines | 1,189 | 1,118 | 6 | ||
| Companywide | 37,315 | 32,310 | 15 | ||
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 June 2025 Complete Earnings Release
