GuruFocus - On July 22, 2024, Andrew Quigg, Chief Strategy Officer of Progressive Corp (NYSE:PGR), executed a sale of 3,975 shares of the company. The transaction was filed on the same day through an SEC Filing. Following this transaction, the insider now owns 32,779.575 shares of Progressive Corp.
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, Andrew Quigg has sold a total of 14,858 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, 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 sale. The company's market cap is approximately $126.27 billion. The price-earnings ratio of Progressive Corp stands at 18.46, which is above both the industry median of 11.45 and the company's historical median.
The stock's valuation, according to GF Value, is $172.05, indicating that with a price-to-GF-Value ratio of 1.24, Progressive Corp is considered modestly overvalued. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
The insider trend for Progressive Corp shows a clear preference for selling over buying among the insiders, suggesting they might perceive the shares to be fully valued or are taking profits on previous investments.
This sale by Andrew Quigg aligns with the ongoing trend of insider behavior and the current valuation metrics of Progressive Corp, providing investors with insights into insider sentiment and stock valuation.
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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