GuruFocus - On July 22, 2024, Karen Bailo, Commercial Lines President at Progressive Corp (NYSE:PGR), executed a sale of 7,882 shares of the company. According to the SEC Filing, the transaction occurred at an average price of $214.01 per share, totaling approximately $1,686,858.82. Following this transaction, the insider now owns 32,342.759 shares of Progressive Corp.
Progressive Corp, primarily engaged in the insurance industry, offers services through three segments: Personal Lines, Commercial Lines, and Property. The company is known for its auto, property, and commercial vehicle insurance products, distributed through both online and physical agency channels.
Over the past year, Karen Bailo has sold a total of 16,346 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed within the company, where there have been 37 insider sells and no insider buys over the last year.
Shares of Progressive Corp were trading at $214.01 on the day of the sale, giving the company 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 stock's valuation, according to the GF Value, is set at $172.05, indicating that the stock is Modestly Overvalued with a price-to-GF-Value ratio of 1.24.
The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of the company's future performance and stock valuation adjustments.
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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