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Patrick K. Callahan, Personal Lines President at Progressive Corp (NYSE:PGR), a prominent insurance industry player with a market capitalization of $141.6 billion, sold 6,232 shares of common stock on July 28, 2025. According to InvestingPro analysis, the company currently trades at an attractive P/E ratio of 13.6x and shows signs of being slightly undervalued. The shares were sold at a weighted average price of $242.1597, for a total value of $1,509,139.
The sales occurred in multiple transactions at prices ranging from $239.230 to $248.676. This transaction was executed under a pre-arranged 10b5-1 trading plan adopted on November 18, 2024. Following the transaction, Callahan directly owns 27,843.521 shares of Progressive Corp. InvestingPro research reveals the company maintains excellent financial health with a "GREAT" overall score, and analysts have recently revised earnings estimates upward. Discover 10+ additional exclusive insights and detailed valuation metrics with InvestingPro’s comprehensive research report.
In other recent news, Progressive Corp. reported second-quarter earnings that surpassed analyst expectations. The company posted adjusted earnings per share of $5.40, exceeding the forecasted $4.36. Revenue reached $20.08 billion, which, while slightly below the consensus estimate of $20.48 billion, still marked a 12% increase compared to the previous year. Additionally, Progressive’s June operating results showed earnings per share of $1.67, outperforming both Visible Alpha’s and Goldman Sachs’ estimates. Goldman Sachs has maintained its Buy rating for Progressive, citing strong performance metrics, and set a price target of $305.00.
Conversely, Evercore ISI downgraded Progressive from Outperform to In Line, with a price target of $275.00, due to a perceived balanced risk/reward profile. Despite this downgrade, Evercore had previously held a bullish view on the company. These developments highlight the mixed analyst perspectives on Progressive’s growth potential. Investors are closely watching how these factors may influence the company’s future performance.
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