BofA Slashes PT on Progressive to $346, Maintains Buy Rating

BofA lowered its price target on The Progressive Corporation (PGR) to $346 from $351 while keeping a Buy rating. The company added 273,000 net personal auto consumers in October, a steep rise in net growth after a decline in pace for six consecutive months. Net premiums written in October 2025 rose to $7.002 billion compared to $6.578 billion in the same month last year, and net income for the month increased to $846 million compared to $408 million in October 2024.