5 Best Undervalued Stocks to Buy According to the Financial Media

4. The Progressive Corporation (NYSE:PGR)

Forward P/E: ~11.9x

Number of Hedge Fund Holders: 82

The Progressive Corporation (NYSE:PGR) is one of the Best Undervalued Stocks to Buy According to the Financial Media. On May 20, BMO Capital reduced its price objective on the company’s stock to $220 from $221.00, while maintaining a “Market Perform” rating. The analyst’s rating is backed by factors associated with The Progressive Corporation (NYSE:PGR)’s fundamentals and valuation. The analyst marginally lifted the 2026 and 2027 EPS forecasts, thanks to stronger net investment income, an increase in share repurchases, and the favorable near-term loss ratio trajectory after the underwriting outperformance.

That being said, the analyst also noted the factors capping the upside. These include softer policy-in-force growth, less favorable seasonal revenue patterns, as well as pressure on the auto insurance pricing.

On May 20, The Progressive Corporation (NYSE:PGR) released its results for the month ended April 30, 2026, with net premiums written coming at $7,278 million, reflecting 6% YoY growth. Furthermore, net premiums earned saw an increase of 7% YoY to $7,112 million.

The Progressive Corporation (NYSE:PGR) operates as an insurance company.