Progressive Corp’s chief investment officer sells shares worth $344,787

Published 10/03/2025, 16:26
Progressive Corp’s chief investment officer sells shares worth $344,787

Jonathan S. Bauer, Chief Investment Officer at Progressive Corp (NYSE:PGR), a prominent player in the insurance industry with a market capitalization of $167.3 billion, executed a sale of 1,227 shares of the company’s common stock on March 6, 2025. The company’s stock has shown remarkable strength, delivering a 44% return over the past year and trading near its 52-week high of $287.49. The shares were sold at a price of $281 each, amounting to a total transaction value of $344,787. Following this sale, Bauer holds 28,392.903 shares directly. This transaction was conducted under a pre-established 10b5-1 trading plan initiated in November 2024. In addition, Bauer retains an indirect ownership of 115.099 shares through a 401(k) plan. According to InvestingPro analysis, Progressive currently appears fairly valued, with 13 analysts recently revising their earnings expectations upward for the upcoming period. The company maintains strong financials with a healthy P/E ratio of 19.7 and has consistently paid dividends for 16 consecutive years.

In other recent news, Progressive Corporation reported strong financial results for the fourth quarter of 2024, with a notable 21% year-over-year increase in net premiums written, totaling $74.4 billion. The company also achieved a combined ratio of 88.8, which is significantly below its target, indicating strong underwriting profitability. In addition to these financial highlights, Progressive has appointed Carl G. Joyce as the new Vice President and Chief Accounting Officer, as part of its ongoing executive management restructure. Meanwhile, CFRA analyst Catherine Seifert raised the price target for Progressive’s shares to $320, maintaining a Buy rating, citing expected revenue growth driven by increased earned premiums and investment income. Similarly, Jefferies analyst Andrew Andersen adjusted the stock price target to $319, also reiterating a Buy rating, due to anticipated growth in auto insurance policy in-force. These developments, along with strategic advancements in claims technology and operational efficiency, are seen as positive indicators for Progressive’s future growth and market position.

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