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Kahina Van Dyke, a director at Progressive Corp (NYSE:PGR), recently sold 2,490 shares of the company’s common stock. Progressive, a prominent player in the insurance industry with a market capitalization of $162.56 billion, has seen its stock rise nearly 18% year-to-date. According to InvestingPro analysis, the company is currently trading below its Fair Value. The shares were sold at a price of $277.67 each, amounting to a total transaction value of $691,398. Following this sale, Van Dyke now holds 12,429 shares directly. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission for the period ending May 22, 2025. The company maintains strong fundamentals with a P/E ratio of 18.66, and InvestingPro has identified 12 additional key insights about Progressive’s financial health and growth prospects, available in the comprehensive Pro Research Report.
In other recent news, The Progressive Corporation reported strong financial results for April 2025, with net premiums written increasing by 11% to $6.837 billion and net premiums earned rising by 19% to $6.641 billion compared to the previous year. The company’s net income more than doubled to $986 million, marking a 134% increase from April 2024. Progressive’s earnings per share (EPS) for the month also grew significantly, reaching $1.68 from $0.72. The combined ratio improved to 84.9, indicating enhanced underwriting profitability. Additionally, Progressive renewed its share repurchase program, authorizing the repurchase of up to 25 million common shares, and declared a quarterly dividend of $0.10 per share.
Progressive’s Q1 2025 earnings report showed record growth and near-record margins, with revenue surpassing expectations at $22.21 billion against a forecast of $21.6 billion. However, the EPS of $4.37 fell short of the anticipated $4.74. Analysts at Keefe, Bruyette & Woods maintained a Market Perform rating for Progressive, with a price target of $288, citing the company’s strong April performance. They revised their EPS estimates upward for 2025 and 2026, while also noting potential challenges in core loss ratios and a deceleration in premium growth. Progressive’s strategic focus on investment income, which increased by 32% year-over-year, and customer policy growth further highlights its robust financial health.
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