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Karen Bailo, Commercial Lines President at Progressive Corp (NASDAQ:NYSE:PGR), a $141.57 billion insurance giant currently trading at an attractive P/E ratio of 13.57, sold 8,922 shares of the company’s common stock on July 28, 2025, at a price of $249.24, for a total transaction value of $2,223,719. According to InvestingPro analysis, Progressive shows strong financial health with a "GREAT" overall rating.
Following the transaction, Bailo directly owns 32,345.78 shares of Progressive Corp. The sale was executed under a pre-arranged 10b5-1 trading plan adopted on September 24, 2024. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ top US stocks, including Progressive Corp.
In other recent news, Progressive Corp. reported second-quarter earnings that surpassed analyst expectations, with adjusted earnings per share reaching $5.40, exceeding the projected $4.36. Despite the earnings beat, the company’s revenue was slightly below consensus at $20.08 billion, though it marked a 12% year-over-year increase from $17.90 billion. Earlier in June, Progressive’s operating earnings per share were reported at $1.67, significantly outperforming the Visible Alpha Consensus estimate of $1.14 and Goldman Sachs’ estimate of $1.23. This performance was attributed to a better-than-expected underlying loss ratio and lower catastrophe losses.
Goldman Sachs maintained its Buy rating on Progressive, reiterating a price target of $305.00, citing strong June results as a key factor. In contrast, Evercore ISI downgraded Progressive from Outperform to In Line, setting a price target of $275.00 due to a perceived balanced risk/reward profile. These developments highlight the mixed analyst sentiment despite the company’s strong earnings performance. Investors are keeping a close eye on Progressive as these recent updates unfold.
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