Wells Fargo Maintains Buy Rating on The Progressive (PGR) Stock

The Progressive Corporation (NYSE:PGR) is one of the Most Undervalued Long Term Stocks to Buy According to Hedge Funds. On August 5, analyst Elyse Greenspan of Wells Fargo maintained a “Buy” rating on the company’s stock, boosting the price objective to $333.00. The analyst’s rating is backed by the company’s strategic management of its expenses and pricing strategies. The Progressive Corporation (NYSE:PGR) exhibited operating leverage by improving the expense ratio, excluding advertising spend, indicating efficient cost management.

Wells Fargo Maintains Buy Rating on The Progressive (PGR) Stock

A team of accountants in a boardroom, discussing strategic moves of an insurance company.

Furthermore, The Progressive Corporation (NYSE:PGR)’s decision to maintain increased advertising expenditure exhibits a commitment to growth, which can enhance its market position. Despite the concerns related to the tariff uncertainties and potential impacts on loss costs, The Progressive Corporation (NYSE:PGR) kept its personal auto rates stable and adequately priced in most states. Also, The Progressive Corporation (NYSE:PGR) remains proactive in adjusting rates for personal property and commercial auto, demonstrating its adaptability to market conditions.

Parnassus Investments, an investment management firm that focuses on owning a concentrated portfolio of U.S. large-cap stocks, released its Q2 2025 investor letter. Here is what the fund said:

The Progressive Corporation (NYSE:PGR) underperformed as growth in policies slowed down. Investors also grew concerned about the impact of tariffs on costs. The company remains well positioned to outperform peers over the long term given its scale.”

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 this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.