Progressive's Q4 Premiums Up 8% as UBS Cuts Target to $226
UBS trimmed Progressive's 2026 price target to $226 from $234 and Goldman Sachs maintained a $230 target, while KBW cut its target to $225 citing moderation concerns. December net premiums written rose 6% to $6.31M and net income climbed 22% to $1.14M.
1. Analyst Price Target Adjustments
UBS trimmed its 2026 price target for Progressive to $226 from $234 but kept a Buy rating, while Goldman Sachs reiterated a $230 target. KBW lowered its price target from $252 to $225, citing moderation concerns, and maintained a Market Perform rating.
2. December Monthly Results
In December, net premiums written rose 6% year-over-year to $6.31 million and net premiums earned climbed 6% to $7.12 million. Net income for the month jumped 22% to $1.14 million on the stronger premium performance.
3. Fourth Quarter Performance & Forecast
During the fourth quarter, net premiums written rose 8% to $19.51 million and net premiums earned grew 10% to $21.1 million, driving a 25% surge in net income to $2.95 million. Goldman Sachs raised its 2026 policies-in-force growth forecast by 30 basis points to 8.1%, citing improved advertising efficiency.