BofA Slashes PT on The Progressive Company (PGR) to $346 From $351

The Progressive Company (NYSE:PGR) is likely one of the greatest massive cap shares to spend money on for the long run. On November 19, BofA lowered the value goal on The Progressive Company (NYSE:PGR) to $346 from $351 whereas preserving a Purchase ranking on the shares. The analyst advised buyers in a analysis word that The Progressive Company (NYSE:PGR) added a “wholesome” variety of 273,000 web private auto shoppers in October in comparison with 150,000 in September, which displays a steep rise in web progress after a decline in tempo for six consecutive months.

The Progressive Company (NYSE:PGR) reported its October earnings on November 19, with $7.002 billion in web premiums written in 2025 in comparison with $6.578 billion in the identical month final yr. Internet earnings for the month additionally rose to $846 million in 2025 in comparison with $408 million in October 2024, reflecting a change of 107%.

October 2025 thus mirrored the third-strongest month-to-month web coverage progress of the yr, which counters the bearish narrative that has been weighing on the corporate since April, in keeping with the analyst.

The Progressive Company (NYSE:PGR) is an insurance coverage holding firm that gives residential property insurance coverage, private and business auto insurance coverage, and different specialty property-casualty insurance coverage and associated providers. The corporate operates by way of the Private Traces, Industrial Traces, and Property segments.

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Disclosure: None. This text is initially revealed at Insider Monkey.