5 Dirt Cheap Stocks to Buy With $1000 Right Now

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1. The Progressive Corporation (NYSE:PGR)

On March 24, Jefferies analyst Andrew Andersen maintained a Hold rating on The Progressive Corporation (NYSE:PGR) while cutting the firm’s price target on the shares. The analyst slightly lowered the firm’s price target on the stock from $216 to $215. The adjusted price target implies an additional 5.96% upside from the current levels. The price target adjustment followed the firm’s revision of its financial model to reflect the company’s performance in February.

The Progressive Corporation (NYSE:PGR) signed an underwriting agreement with Goldman Sachs & Co. LLC and TD Securities (USA) LLC on March 23 to raise funds through debt issuance. The company plans to offer $500 million of 4.60% senior notes maturing in 2031 and $1 billion of 5.15% senior notes maturing in 2036. The deal is expected to close on March  26, 2026. It includes standard terms covering protections and obligations for both the underwriters and PGR.

The notes are being issued under an existing 2018 indenture along with a fifth supplement agreement. Interest will be paid twice a year, on March 26 and September 26, starting from September 26, 2026. The maturity dates are set for March 26, 2031, and March 26, 2036. After deducting underwriting fees and other costs, the company expected to receive around  $1.487 billion.

The Progressive Corporation (NYSE:PGR) is an insurance company operating across the United States. The company provides insurance for personal vehicles, including cars, motorcycles, RVs, and watercraft. Additionally, it also offers homeowners’ and renters’ insurance for personal residential properties.

While we acknowledge the potential of PGR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PGR and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 8 Best American Stocks to Buy and Hold in 2026 and 12 Best Mid Cap AI Stocks to Buy According to Hedge Funds.

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