BofA Maintains Buy Rating on The Progressive Corporation (PGR)

The Progressive Corporation (NYSE:PGR) is one of the 12 Undervalued Financial Stocks to Buy Now.

On May 21, 2026, BofA analyst Joshua Shanker lowered the firm’s price target on The Progressive Corporation (NYSE:PGR) to $320 from $325 and maintained a Buy rating on the shares. Shanker said April operating EPS missed expectations, largely due to higher catastrophe loss activity. BofA lowered its EPS estimates for 2026, 2027, and 2028 by 2.6%, 1.4%, and 1.3%, respectively, as the April miss flowed through its model.

On April 15, 2026, The Progressive Corporation (NYSE:PGR) reported Q1 EPS of $4.80, compared to the consensus estimate of $4.85. Net premiums written totaled $23.64B, up from $22.21B last year, while net premiums earned were $20.97B, compared to $19.41B last year. The company reported a combined ratio of 86.4%, compared to 86% last year.

BofA Maintains Buy Rating on The Progressive Corporation (PGR)

The Progressive Corporation (NYSE:PGR) operates as an insurance company in the United States.

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 the cheapest AI stock.

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