Why is The Progressive Corporation (PGR) One of the Best Affordable Stocks With Good Earnings Growth for 2026?

The Progressive Corporation (NYSE:PGR) is one of the best affordable stocks with good earnings growth for 2026. Wells Fargo reaffirmed a Hold rating on The Progressive Corporation (NYSE:PGR) on December 23 and lowered the price target on the stock to $242 from $247. The firm told investors that the company traded down with a continual slowing of PIF growth, adding that the inflection in agency from growth to declines points towards increased competitive market dynamics. Wells Fargo thus sees shares stuck until The Progressive Corporation (NYSE:PGR) shows a reacceleration in PIF growth.

The Progressive Corporation (NYSE:PGR) also received a rating update from BMO Capital on December 18, with the firm lowering the price target on the stock to $253 from $256 while keeping a Market Perform rating on the shares. The firm stated that the company’s premium per policy pricing surprised to the upside by over two percentage points for the second consecutive month, and is overall running modestly positive quarter-to-date. However, it added that the real-time Auto rate filings hint at a continual low-single-digit pricing decline going into December.

The rating update came after The Progressive Corporation (NYSE:PGR) reported its November 2025 results on December 17, with net premiums written for the month reaching $6.193 billion and reflecting an 11% growth compared to November 2024. Net premiums earned for the month $6.894 billion, up 14% year over year, while net income was $958 million, reflecting a drop of 5% compared to the prior year period. Management further reported that the diluted earnings per share available to common shareholders were $1.63, down 5% compared to $1.71 in November 2024.

The Progressive Corporation (NYSE:PGR) is an insurance holding company that provides residential property insurance, personal and commercial auto insurance, and other specialty property-casualty insurance and related services. The company operates through the Personal Lines, Commercial Lines, and Property segments.

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Disclosure: None. This article is originally published at Insider Monkey.