BofA Slashes PT on The Progressive Corporation (PGR) to $346 From $351

Group 1 - The Progressive Corporation (NYSE:PGR) is considered one of the best large-cap stocks for long-term investment, with a recent price target adjustment from BofA to $346 from $351 while maintaining a Buy rating [1] - In October, Progressive added 273,000 net personal auto consumers, a significant increase compared to 150,000 in September, indicating a strong recovery after six months of declining growth [1] - The company reported $7.002 billion in net premiums written in October 2025, up from $6.578 billion in the same month last year, reflecting a positive trend in revenue growth [2] Group 2 - The net income for October 2025 rose to $846 million, a substantial increase of 107% compared to $408 million in October 2024, showcasing strong financial performance [2] - October 2025 marked the third-strongest monthly net policy growth of the year, countering the bearish sentiment that has affected the company since April [3] - Progressive operates as an insurance holding company, providing various insurance products through its Personal Lines, Commercial Lines, and Property segments [4]