William Blair analyst Adam Klauber has maintained their bullish stance on PGR stock, giving a Buy rating on October 13.
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Adam Klauber has given his Buy rating due to a combination of factors that highlight Progressive’s strong underlying performance despite recent challenges. The company’s September operating earnings per share were impacted by a one-time policyholder credit expense related to Florida auto law, which skewed the results. Excluding this expense, Progressive’s personal auto expense and combined ratio would have aligned with recent months, indicating stable performance.
Moreover, while there has been a deceleration in premiums written and policies in force growth due to increased competition and slight rate declines, Progressive’s underlying loss ratio remains favorable compared to historical averages. The company’s combined ratio, adjusted for the one-time expense, suggests a strong position moving forward. Klauber anticipates that Progressive’s earnings momentum will continue into 2026, with potential upside, despite some near-term growth challenges.
According to TipRanks, Klauber is a 3-star analyst with an average return of 3.9% and a 46.00% success rate. Klauber covers the Financial sector, focusing on stocks such as Progressive, Baldwin Insurance Group, and Kinsale Capital Group.
In another report released on October 13, Bank of America Securities also maintained a Buy rating on the stock with a $350.00 price target.