Wells Fargo Reiterates a Buy Rating on The Progressive Corporation (PGR), Retains $333 PT

The Progressive Corporation (NYSE:PGR) is one of the best long term low volatility stocks to buy now. In a report released on July 14, Wells Fargo analyst Elyse Greenspan reiterated a Buy rating on The Progressive Corporation (NYSE:PGR), retaining a price target of $333.

The analyst supported the optimistic rating with the company’s growth potential and strong financial performance, noting that The Progressive Corporation (NYSE:PGR) exhibited stronger-than-anticipated growth in policies in force (PIF) while maintaining robust margins.

According to the analyst, these factors are supported by favorable reserve development and suggest the company’s potential to continue capturing market share.

Greenspan also reasoned that while share price experienced some underperformance recently, The Progressive Corporation (NYSE:PGR) is attractively valued and is trading at a reasonable multiple of the 2026 EPS estimate.

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.