Sifting through countless of stocks in the Insurance industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in The Progressive Corporation or Manulife Financial Corporation because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how The Progressive Corporation and Manulife Financial Corporation compare based on key financial metrics to determine which better meets your investment needs.

About The Progressive Corporation and Manulife Financial Corporation

The Progressive Corporation operates as an insurance company in the United States. It writes insurance for personal autos and special lines products, including motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners and renters. The company also writes auto-related liability and physical damage insurance for comprising dump trucks, log trucks, garbage trucks, tractors, trailers, straight trucks, tow trucks and wreckers, vans, pick-up trucks, and autos; business-related general liability and commercial property insurance for small businesses; and workers’ compensation insurance for the transportation industry. In addition, it offers other specialty property-casualty insurance and provides related services; personal property reinsurance products; and involved in investment activities. It sells its products through independent insurance agencies, as well as online and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. It operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. The Insurance and Annuity Products segment provides deposit and credit products; and individual life insurance, individual and group long-term care insurance, and guaranteed and partially guaranteed annuity products through multiple distribution channels, including insurance agents, brokers, banks, financial planners, and direct marketing. The Corporate and Other segment is involved in the property and casualty reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. The company also manages timberland and agricultural portfolios; and engages in the insurance agency, broker dealer, investment counseling, portfolio and mutual fund management, property and casualty insurance, and fund and investment management businesses. In addition, it provides integrated banking products and services, as well as offers asset management services. The company was incorporated in 1887 and is headquartered in Toronto, Canada.

Latest Insurance and The Progressive Corporation, Manulife Financial Corporation Stock News

As of June 23, 2026, The Progressive Corporation had a $126.0 billion market capitalization, compared to the Insurance median of $6.4 million. The Progressive Corporation’s stock is down 5.3% in 2026, up 5.4% in the previous five trading days and down 17.68% in the past year.

Currently, The Progressive Corporation’s price-earnings ratio is 11.0. The Progressive Corporation’s trailing 12-month revenue is $89.4 billion with a 12.9% net profit margin. Year-over-year quarterly sales growth most recently was 8.7%. Analysts expect adjusted earnings to reach $17.225 per share for the current fiscal year. The Progressive Corporation currently has a 6.4% dividend yield.

As of June 23, 2026, Manulife Financial Corporation had a $67.2 billion market cap, putting it in the 95th percentile of all stocks. Manulife Financial Corporation’s stock is up 10.8% in 2026, down 2.3% in the previous five trading days and up 31.04% in the past year.

Currently, Manulife Financial Corporation’s price-earnings ratio is 16.1. Manulife Financial Corporation’s trailing 12-month revenue is $22.9 billion with a 20.0% net profit margin. Year-over-year quarterly sales growth most recently was 15.5%. Analysts expect adjusted earnings to reach $3.152 per share for the current fiscal year. Manulife Financial Corporation currently has a 4.8% dividend yield.

How We Compare The Progressive Corporation and Manulife Financial Corporation Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at The Progressive Corporation and Manulife Financial Corporation’s stock grades to see how they measure up against one another.

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The Progressive Corporation and Manulife Financial Corporation Growth Grades

Company	Ticker	Growth
The Progressive Corporation	PGR	A
Manulife Financial Corporation	MFC	D

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

The Progressive Corporation has a Growth Score of 89, which is Very Strong. Manulife Financial Corporation has a Growth Score of 36, which is Weak.

The Growth Grade Winner: The Progressive Corporation

As you can clearly see from the Growth Grade breakdown above, The Progressive Corporation has a more attractive growth grade than Manulife Financial Corporation. For investors who focus solely on how a company is growing relative to other companies in the same industry, The Progressive Corporation could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

The Progressive Corporation and Manulife Financial Corporation’s Momentum Grades

Company	Ticker	Momentum
The Progressive Corporation	PGR	D
Manulife Financial Corporation	MFC	B

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

The Progressive Corporation has a Momentum Score of 28, which is Weak. Manulife Financial Corporation has a Momentum Score of 63, which is Strong.

The Momentum Grade Winner: Manulife Financial Corporation

As you can clearly see from the Momentum Grade breakdown above, Manulife Financial Corporation is considered to have stronger momentum compared to The Progressive Corporation. For those specifically looking for companies that have stronger momentum compared to other companies in the same industry, Manulife Financial Corporation could be a good stock to invest in. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

The Progressive Corporation and Manulife Financial Corporation’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
The Progressive Corporation	PGR	B
Manulife Financial Corporation	MFC	C

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

The Progressive Corporation has a Earnings Estimate Score of 65, which is Positive. Manulife Financial Corporation has a Earnings Estimate Score of 52, which is Neutral.

The Earnings Estimate Revisions Grade Winner: The Progressive Corporation

As you can clearly see from the Earnings Estimate Revisions Grade breakdown above, The Progressive Corporation has a better Earnings Estimate Revisions Grade than Manulife Financial Corporation. For those who are specifically looking for companies with better short-term prospects when compared to other companies in the same industry, The Progressive Corporation could be a good stock to invest in. However, it’s important to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other The Progressive Corporation and Manulife Financial Corporation Grades

In addition to Growth, Momentum and Estimate Revisions, A+ Investor also provides grades for Value and Quality.

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether The Progressive Corporation and Manulife Financial Corporation pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, The Progressive Corporation or Manulife Financial Corporation Stock?

Overall, The Progressive Corporation stock has a Growth Score of 89, Momentum Score of 28 and Estimate Revisions Score of 65.

Manulife Financial Corporation stock has a Growth Score of 36, Momentum Score of 63 and Estimate Revisions Score of 52.

Comparing The Progressive Corporation and Manulife Financial Corporation’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.