The Progressive Corporation (NYSE:PGR) is one of the best large cap stocks to invest in for the long term. On November 19, BofA lowered the price target on The Progressive Corporation (NYSE:PGR) to $346 from $351 while keeping a Buy rating on the shares. The analyst told investors in a research note that The Progressive Corporation (NYSE:PGR) added a “healthy” number of 273,000 net personal auto consumers in October compared to 150,000 in September, which reflects a steep rise in net growth after a decline in pace for six consecutive months.
The Progressive Corporation (NYSE:PGR) reported its October earnings on November 19, with $7.002 billion in net premiums written in 2025 compared to $6.578 billion in the same month last year. Net income for the month also rose to $846 million in 2025 compared to $408 million in October 2024, reflecting a change of 107%.
October 2025 thus reflected the third-strongest monthly net policy growth of the year, which counters the bearish narrative that has been weighing on the company since April, according to the analyst.
The Progressive Corporation (NYSE:PGR) is an insurance holding company that provides residential property insurance, personal and commercial auto insurance, and other specialty property-casualty insurance and related services. The company operates through the Personal Lines, Commercial Lines, and Property segments.
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Disclosure: None. This article is originally published at Insider Monkey.
