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John Sauerland, Vice President and Chief Financial Officer of Progressive Corp. (NYSE:PGR), executed a significant stock sale earlier this week. According to a recent SEC filing, Sauerland sold 10,000 shares of Progressive common stock on May 28, 2025. The shares were sold at an average price of $275.37, resulting in a total transaction value of approximately $2.75 million. The transaction comes as Progressive maintains strong financial health, with InvestingPro analysis showing the company’s robust performance with a 21% revenue growth and an impressive return on equity of 34%.
This transaction was conducted under a 10b5-1 trading plan that Sauerland adopted on August 22, 2024. Following this sale, Sauerland retains direct ownership of 238,024.069 shares, while also holding 13,577.06 shares indirectly through a 401(k) plan.
Such transactions are regularly monitored by investors to gauge insider sentiment and align their strategies accordingly.
In other recent news, The Progressive Corporation reported strong financial results for April 2025, highlighting significant growth in premiums and net income. Net premiums written increased by 11% to $6.837 billion, while net premiums earned rose 19% to $6.641 billion. The company’s net income more than doubled to $986 million, reflecting a 134% increase compared to the previous year. Progressive also saw a notable improvement in its combined ratio, which dropped to 84.9 from 89.0, indicating better underwriting performance.
In the first quarter of 2025, Progressive reported record growth with revenue of $22.21 billion, surpassing the forecast of $21.6 billion. However, the company’s earnings per share (EPS) of $4.37 fell short of the expected $4.74. Despite this, Keefe, Bruyette & Woods maintained their Market Perform rating on Progressive, raising the EPS estimates for 2025 and 2026, reflecting the company’s outperformance in April. The firm set a price target of $288, based on its projected 2026 EPS.
Additionally, Progressive’s Board of Directors renewed the authorization to repurchase up to 25 million common shares, demonstrating confidence in the company’s financial strength. The board also declared a quarterly dividend of ten cents per share, payable in July 2025. These developments underscore Progressive’s strategic focus on capital management and shareholder value.
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