BofA cuts target for Progressive Corp stock to USD 262.00

Bank of America Global Research cut its price objective for Progressive Corp from USD 266.00 to USD 262.00 on October 26, 2026, according to Futu News. The target is 16.65 percent above the NYSE price of USD 224.57 on October 27, 2026. At Lang & Schwarz, the stock was trading at EUR 202.10 on October 27, 2026 at 5:57 p.m. CET.

Third-quarter profit points lower

The target cut follows Progressive's third-quarter report, which showed net income of USD 2.542 billion for the period ended September 30, 2026. That was 3.00 percent below USD 2.615 billion a year earlier, while net premiums earned rose 5.00 percent to USD 21.869 billion.

The same release showed earnings per share available to common shareholders of USD 4.37, down 2.00 percent from USD 4.45 in the year-earlier quarter. The combined ratio improved to 88.70 percent from 89.50 percent, a 0.80 percentage-point reduction, while total policies in force reached 40.489 million, up 6.00 percent from 38.078 million.

USD 262.00 target versus earnings

The latest target remains above the reported third-quarter earnings picture, but the lower objective puts the analyst view below the USD 314.00 target cited in an October 1 report by Bank of America in MarketBeat. The current target also sits above the USD 238.00 objective UBS set on October 19, 2026.

November 3 results date

Progressive is scheduled to release its next quarterly results on November 3, 2026, according to MarketScreener. That report will give investors a fresh comparison for premiums, earnings per share and the combined ratio.

Comparison with peers

Progressive Corp: down 2.04 percent on October 27, 2026 on the NYSE, price-to-earnings ratio 11.31, market capitalization USD 130.5 billion.

American International Group: down 1.82 percent on October 27, 2026 on the NYSE, price-to-earnings ratio 14.56, market capitalization USD 42.2 billion.

Allstate: down 2.01 percent on October 27, 2026 on the NYSE, price-to-earnings ratio 5.01, market capitalization USD 63.4 billion.

Price and next catalyst

The analyst revision gives Progressive investors a dated valuation marker ahead of the November report. The latest quarter combined higher premiums with lower net income, making the next earnings release the next concrete test of that balance.

Progressive Corp was trading at EUR 202.10 at Lang & Schwarz on October 27, 2026 at 5:57 p.m. CET. The further course of trading is shown by the continuously updated real-time quote of Progressive Corp stock.

Market context: Market report S&P 500.

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