Keefe, Bruyette & Woods Raises Its Price Target on The Progressive Corporation (PGR), Keeps Market Perform Rating

With significant hedge fund interest and return on equity, The Progressive Corporation (NYSE:PGR) secures a spot on our list of the 13 Safest Stocks to Invest in Now.

Keefe, Bruyette & Woods raised its price target on The Progressive Corporation (NYSE:PGR) from $268 to $270 on September 18 while keeping its Market Perform rating. After Progressive’s August 2025 earnings beat, EPS projections were adjusted, and the updated estimates are now $18.15 for 2025, $15.40 for 2026, and $16.40 for 2027.

Moreover, analysts pointed to reduced catastrophe losses and increased net investment income as major motivators, which were somewhat counterbalanced by the slower premium growth and increased costs. Furthermore, along with an 11% increase in net premiums written and an 18% increase in net premiums earned, The Progressive Corporation (NYSE:PGR) reported a 30% year-over-year gain in net income in August, reaching $1.22 billion. Long-term fundamentals are still strong, but shares are also under pressure from moderate competition, rate hikes in the near term, which could lessen the company’s edge in policy growth.

The Progressive Corporation (NYSE:PGR) is a holding company for insurance that provides specialty property-casualty insurance services, personal and commercial vehicle insurance, and residential property insurance throughout the United States. It is one of the Safest Stocks To Buy.

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