BofA cuts target for Progressive stock from USD 309.00 to USD 302.00

Published on 10/05/2026 at 12:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

August premiums rose 6.00 percent to USD 7.61 billion. Progressive stock costs EUR 187.53 on October 5, 2026 versus EUR 186.88.

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The Progressive Corporation (ISIN US7433151039) faces a lower BofA valuation after Markets Insider reported on September 20, 2026 that BofA cut its Progressive target from USD 309.00 to USD 302.00 while keeping a Buy rating. The change puts underwriting quality ahead of premium growth in the stock story.

Premium growth meets weaker profit

Progressive reported August 2026 net premiums written of USD 7.61 billion, up 6.00 percent from USD 7.20 billion in August 2025. Net premiums earned increased 5.00 percent to USD 7.35 billion, while net income fell 22.00 percent to USD 951.00 million from USD 1.22 billion.

The operating mix is therefore uneven: policies in force reached 40.49 million on August 31, 2026, up 7.00 percent from 37.89 million a year earlier, but the combined ratio widened to 89.30 from 83.10. For investors, the comparison matters because customer and premium expansion did not translate into higher monthly profit.

Target remains above the euro quote

BofA also cited August operating earnings per share of USD 1.49 against its USD 1.29 forecast, while pointing to a combined ratio below expectations. The USD 302.00 target is a separate analyst measure from the euro reference quote and is not a conversion of the Lang & Schwarz price.

On the NYSE, PGR was last quoted at USD 210.31 on October 2, 2026 at 4:00 p.m. ET. The primary-exchange 52-week range was USD 189.20 to USD 245.64, and market capitalization was USD 122.3 billion as of October 2, 2026.

Progressive stock trades at Lang & Schwarz

Progressive stock was trading at EUR 187.53 at Lang & Schwarz on October 5, 2026 at 12:11 p.m. CEST, up 0.35 percent versus the prior close of EUR 186.88 on October 2, 2026. The combination of rising premiums and lower profit leaves the August underwriting figures as the key counterweight to BofA's target cut. The further course of trading is shown by the continuously updated real-time quote of Progressive Corp stock.