The Progressive Corporation (NYSE:PGR) is one of the Most Undervalued High Quality Stocks to Buy Now.
On May 5, Michael Zaremski from BMO Capital reiterated a Hold rating on the shares and raised the price target from $199.31 to $221
On the same day, Evercore ISI reiterated a Hold rating on shares with a price target of $230. One month ago, on April 15, the company released its fiscal Q1 2026 earnings. During the quarter, the company posted $23.64 billion in revenue, up 6.46% year-over-year and ahead of expectations by $437.20 million.
While the GAAP EPS of $4.80 missed the consensus by $0.05, the normalized EPS topped estimates by $0.08. According to The Progressive Corporation (NYSE:PGR)’s March 2026 financial results, the net premiums written for the quarter came in at $23.641 billion, reflecting 6% year-over-year increase. Moreover, the net premium written for the month grew 10% compared to the same month last year.