Steven Broz, the Chief Information Officer of Progressive Corp (PGR, Financial), sold 2,982 shares of the company on September 23, 2024, according to a recent SEC filing. Following this transaction, the insider now owns 29,334.283 shares of Progressive Corp.
Progressive Corp, a leading insurance company, provides insurance solutions for personal and commercial auto and property, as well as other specialty property-casualty insurance and related services. The company is known for its innovative approaches to auto insurance, among other services.
Over the past year, Steven Broz has sold a total of 22,565 shares and has not purchased any shares. This recent sale is part of a broader trend within Progressive Corp, where there have been 37 insider sells and no insider buys over the past year.
On the date of the sale, shares of Progressive Corp were trading at $260, giving the company a market cap of approximately $150.28 billion. The price-earnings ratio of the stock stands at 21.96, which is above both the industry median of 11.05 and the company's historical median.
The stock's GF Value is estimated at $182.90, indicating that with a trading price of $260, Progressive Corp is considered Significantly Overvalued with a price-to-GF-Value ratio of 1.42.
The valuation metrics suggest that the stock may be trading at a premium compared to its intrinsic value, which is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
This insider sale could be of interest to investors tracking insider behaviors as an indicator of the company's future performance 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.
