GuruFocus - Chief Information Officer Steven Broz sold 3,050 shares of Progressive Corp (NYSE:PGR) (NYSE:PGR) on July 22, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns 38,438.283 shares of the company.
Progressive Corp, primarily engaged in the insurance industry, offers services for auto, property, commercial auto, and other specialty property-casualty insurance and related services. The company's innovative approaches and effective risk management have positioned it as a leader in the insurance sector.
Over the past year, Steven Broz has sold a total of 13,461 shares of the company and has not made any purchases. This recent transaction is part of a broader trend seen within Progressive Corp, where there have been 37 insider sells and no insider buys over the past year.
Shares of Progressive Corp were trading at $214.01 on the day of the transaction. The company has a market cap of approximately $126.27 billion. The price-earnings ratio stands at 18.46, which is above both the industry median of 11.45 and the company's historical median.
The GF Value of the stock is $172.05, indicating a price-to-GF-Value ratio of 1.24. This suggests that Progressive Corp is currently Modestly Overvalued.
The GF Value is calculated considering 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 past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider might be of interest to current and potential investors, providing insight into insider confidence and perspectives on the company's current valuation and future prospects.
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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