Chief Information Officer Steven Broz sold 2,981 shares of Progressive Corp (PGR, Financial) on October 21, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns 26,353.283 shares of the company.
Progressive Corp, primarily known for its insurance offerings, operates as one of the largest providers of car insurance in the United States. In addition to auto insurance, the company also offers insurance for motorcycles, boats, RVs, and commercial vehicles, and provides home insurance through select companies.
Over the past year, Steven Broz has sold a total of 25,546 shares and has not made any purchases of the company's stock. The insider transaction history for Progressive Corp shows a total of 38 insider sells and no insider buys over the same timeframe.
Shares of Progressive Corp were trading at $251.15 on the day of the transaction, giving the company a market cap of approximately $144.68 billion. The price-earnings ratio of the company stands at 17.95, which is above both the industry median of 11.44 and the company's historical median.
The stock's valuation according to the GF Value is set at $186.28, indicating that with a current price of $251.15, Progressive Corp is significantly overvalued with a price-to-GF-Value ratio of 1.35.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
This sale by the insider could be of interest to current and potential investors, providing insight into insider confidence and stock valuation perceptions at Progressive Corp.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
