GuruFocus - On July 22, 2024, Patrick Callahan, Personal Lines President at Progressive Corp (NYSE:PGR), sold 7,930 shares of the company. According to the SEC Filing, the transaction occurred at an average price of $214.01 per share, totaling approximately $1,697,359.30. Following this transaction, the insider now owns 30,582.188 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, Patrick Callahan has sold a total of 37,605 shares of Progressive Corp and has not made any purchases. The company's insider transaction history reveals a pattern of 37 insider sells and no insider buys over the same period.
Shares of Progressive Corp were trading at $214.01 on the day of the transaction, 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 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, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This recent sale by Patrick Callahan might interest investors tracking insider behaviors, especially considering the stock's current valuation metrics and the overall insider selling trend 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.
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