BMO Capital Lowers PT on The Progressive (PGR) Stock

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.

BMO Capital Lowers PT on The Progressive (PGR) Stock

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.

While we acknowledge the risk and potential of PGR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PGR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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