11 Best Financial Services Stocks to Buy Right Now

7. The Progressive Corporation (NYSE:PGR)

Number of Hedge Fund Holders: 91

Bank of America boosted The Progressive Corporation (NYSE:PGR)’s price objective to $333 from $326 on June 13, while keeping its Buy rating.

According to the firm’s updated forecast, the number of personal auto policies in force is anticipated to increase by 251,000 in May, compared to its previous estimate of 289,000. The company wrote in a note to investors that this change comes after a study of application data.

BofA’s revised price target shows ongoing confidence in the firm’s earnings potential, even though policy growth estimates have been slightly lowered. The new $333 objective is based on a margin-normalized EPS prediction and valuation parity with the broader market. BofA’s optimistic outlook is reinforced by The Progressive Corporation (NYSE:PGR)’s capacity to maintain growth in the face of fluctuating metrics and margin considerations.

The Progressive Corporation (NYSE:PGR) provides private and commercial auto insurance, as well as specialty lines. It has about 24 million personal auto policies in force and is one of the major auto insurers in the United States. It is one of the best financial stocks.