Mizuho Lowers Progressive (PGR) Price Target to $223

The Progressive Corporation (NYSE:PGR) is one of the 15 Set-It-and-Forget-It Stocks to Buy in 2026.

Mizuho Lowers Progressive (PGR) Price Target to $223

On March 20, 2026, Mizuho lowered its price target on The Progressive Corporation (NYSE:PGR) from $235 to $223. The firm’s analyst kept a Neutral rating on the shares.

Prior to this update, on March 18, 2026, the company reported its earnings for the month ended February 28, 2026, where The Progressive Corporation (NYSE:PGR) highlighted a 2% increase in monthly net income, reaching $943 million. Total policies in force grew 10% year-over-year to 39.2 million. The growth was partially attributed to a 14% surge in Direct auto policies. However, the company’s combined ratio went up from 82.6 to 85.7 in 2025, indicating higher underwriting costs. Additionally, the company noted in its monthly commentary that a monthly closing nuance lowered companywide net premiums written growth by 2-3 percentage points for February. The management expects the March premium growth rate to climb by a similar amount, leaving overall first-quarter growth results unaffected.

Founded in 1937, The Progressive Corporation (NYSE:PGR) is an American insurance holding company specializing in personal and commercial auto, homeowners, and specialty property-casualty insurance. The company’s headquarters is in Ohio.

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