New York, January 14, 2026, 09:06 EST — Premarket
Shares of The Progressive Corporation (PGR) ticked up 0.2% to $205.44 in Wednesday’s premarket, rebounding slightly after falling 5.3% the day before. Mizuho trimmed its price target on the U.S. insurer to $240 from $242 but maintained a Neutral rating.
The quick reset is crucial as insurers head into a packed earnings season, where investors zero in on two key factors: the stability of pricing and the trajectory of claims costs. Even minor changes in rates and loss costs can quickly swing results, especially for personal auto carriers.
Wells Fargo cut its target to $240 from $242 but stuck with an Equal Weight rating, TheFly reports. The broker highlighted that the key areas to watch in the results are “pricing, loss trend, and reserves”—essentially, the direction of claim costs and the funds insurers have reserved for future payouts.
Distribution news came through as well. SIAA announced a strategic partnership with Progressive, bringing the insurer’s personal and commercial auto products into SIAA’s independent agency network. SIAA CEO Matt Masiello described the deal as “a tremendous opportunity.” Progressive Personal Lines President Pat Callahan added that the company was “excited to work with SIAA” in backing agents. (Programbusiness)
Tuesday’s drop wasn’t limited to just one insurer. Allstate slid 5.3%, while Travelers dropped 3.3%, signaling wider selling pressure across the sector.
In another regulatory filing, Progressive CEO Susan Patricia Griffith disclosed acquiring roughly 2,918 restricted stock units via reinvested dividend equivalents, according to a Form 4 report. The units were granted at no cost and will vest alongside the original awards, the filing noted.
Weather risk continues to loom large for insurers, even during quarters when auto pricing grabs most of the spotlight. These losses hit unevenly but have the power to shift sentiment throughout the sector.
Munich Re reported on Tuesday that global insured losses from natural disasters dropped to $108 billion in 2025, down from an inflation-adjusted $147 billion in 2024. Tobias Grimm, the company’s chief climate scientist, cautioned that “a warming world makes extreme weather disasters more likely.” Meanwhile, board member Thomas Blunck attributed the lack of hurricane landfalls in the U.S. last year to “sheer luck.” (Reuters)
Traders eyeing Progressive will focus on whether Wednesday’s early bounce sticks when regular trading kicks off, or if Tuesday’s decline sparks further selling. Insights on premium growth and claim severity could carry more weight than minor adjustments to price targets.
Progressive plans to report December results on Jan. 28. Investors usually focus on written premium growth and the combined ratio — which measures claims and expenses against premiums — as a straightforward indicator of underwriting profit. (Progressive Investors)
