GuruFocus - Chief Information Officer Steven Broz of Progressive Corp (NYSE:PGR) sold 3,050 shares of the company on June 24, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns 32,453.256 shares of the company.
Progressive Corp, a leading insurance company, provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. It is one of the largest auto insurers in the United States.
Over the past year, Steven Broz has sold a total of 10,411 shares of Progressive Corp and has not made any purchases of the stock. This recent transaction is part of a broader trend seen within the company, where there have been 27 insider sells and no insider buys over the past year.
Shares of Progressive Corp were trading at $209.81 on the day of the transaction. The company has a market cap of approximately $120.54 billion. The price-earnings ratio of the stock is 21.07, which is above both the industry median of 11.43 and the company's historical median.
The stock's GF Value is estimated at $168.48, indicating that with a price of $209.81, Progressive Corp is considered Modestly Overvalued with a price-to-GF-Value ratio of 1.25.
The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the companys past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of potential stock performance, particularly in the context of the company's valuation and market trends.
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.
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