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Progressive Corporation (NASDAQ:NYSE:PGR), a prominent player in the insurance industry with a market capitalization of $155 billion, saw its Chief Information Officer Steven Broz sell 1,267 shares of common stock on June 20, 2025, at a price of $260.38, for a total transaction value of $329,901. According to InvestingPro analysis, the company is currently trading below its Fair Value, with a P/E ratio of 17.8x.
Following the transaction, Broz directly owns 27,620.695 shares of Progressive Corporation.
The sale was executed under a pre-arranged 10b5-1 trading plan adopted on January 30, 2025.
In other recent news, Progressive Corporation reported a significant 353% increase in net income for May 2025, reaching $1.07 billion compared to $235 million in the same period last year. The company’s earnings per share rose to $1.81, a substantial increase from $0.40 in the prior-year period. Progressive’s net premiums written grew by 11% to $6.63 billion, while net premiums earned increased by 15% to $6.72 billion. The combined ratio improved to 86.9, indicating enhanced profitability. Barclays (LON:BARC) maintained its Equalweight rating on Progressive, noting the company’s strong earnings performance, which exceeded their expectations. Keefe, Bruyette & Woods reiterated a Market Perform rating with a price target of $288, citing Progressive’s improved earnings outlook for 2025 and 2026. Raymond (NSE:RYMD) James also reiterated an Outperform rating, maintaining a price target of $305, reflecting confidence in Progressive’s favorable combined ratio and potential return on equity. The analysts highlighted concerns regarding potential short-term pressure on the core loss ratio due to normalizing frequency benefits and a slowdown in policy-in-force growth.
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