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John P. Sauerland, Vice President and Chief Financial Officer of Progressive Corp (NASDAQ:NYSE:PGR), a $150 billion market cap insurance leader with a "GREAT" financial health rating according to InvestingPro, sold 10,000 shares of common stock on June 30, 2025, at $263.79, totaling $2,637,900.
Following the transaction, Sauerland directly owns 228,024.069 shares of Progressive Corp. common stock. He also indirectly owns 13,577.06 shares through a 401(k) plan. The company has demonstrated strong performance with 20.7% revenue growth and trades at an attractive P/E ratio of 17.5x earnings.
The sale was executed under a pre-arranged 10b5-1 trading plan adopted on August 22, 2024. With 16 analysts recently revising earnings estimates upward, investors can access comprehensive analysis and 12 additional key insights through InvestingPro’s detailed research reports.
In other recent news, Progressive Corp. 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. Earnings per share for the month were $1.81, surpassing Barclays (LON:BARC)’ estimate of $1.22, driven by strong underwriting results and disciplined expense management. The company’s combined ratio improved to 86.9 from 100.4 a year earlier, indicating enhanced profitability. Progressive’s net premiums written rose 11% to $6.63 billion, though this was below the projected 18.7% increase, partly due to a timing difference in the monthly closing process.
Keefe, Bruyette & Woods maintained their Market Perform rating on Progressive, raising their price target to $288.00, citing faster investment income growth and larger reserve releases. Raymond (NSE:RYMD) James reiterated an Outperform rating with a $305.00 price target, expressing confidence in Progressive’s ability to maintain a favorable combined ratio. The company’s policy growth showed mixed results, with personal auto policies increasing 19.7%, slightly below expectations. Despite some challenges, Progressive’s operational efficiency and favorable prior-year development contributed positively to its financial performance.
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