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Lori A. Niederst, CRM President at Progressive Corp. (NYSE:PGR), recently sold 3,855 shares of the company’s stock. The shares were sold at an average price of $247.06, totaling approximately $952,416. Following this transaction, Niederst holds 39,039.693 shares directly. Additionally, there are 196.659 shares indirectly owned through her husband’s 401(k) plan. This transaction was filed with the Securities and Exchange Commission on January 31, 2025. According to InvestingPro, Progressive maintains a "GREAT" financial health score and is currently trading near its Fair Value. Want deeper insights into insider transactions and 12+ exclusive ProTips? Discover more with InvestingPro’s comprehensive research reports, available for 1,400+ top US stocks.
In other recent news, Progressive Corp. has been in the spotlight due to several key developments. BMO Capital Markets revised its price target for Progressive to $269 from $267, maintaining an Outperform rating. This adjustment was influenced by Progressive’s continued margin strength and the anticipation of further organic growth driven by increased advertising expenditure.
Despite concerns about pricing in Florida, Progressive demonstrated a robust revenue growth of 22.67% over the last twelve months. The firm’s projections for Progressive’s policies in force (PIF) growth for 2025 surpass consensus estimates, indicating potential stock upside.
In addition, Progressive reported a significant increase in its November financial results, including an 18% rise in net premiums written and a 48% surge in net income. The company’s combined ratio, a measure of profitability, improved from 91.1% to 85.6%.
However, shares of insurance companies, including Progressive, experienced a decline after J.P. Morgan analysts warned of high industry losses due to recent wildfires. The firm’s revised projections suggest that insured losses could surpass $20 billion if the fires continue.
On a positive note, Progressive received an upgrade from Raymond (NSE:RYMD) James, raising its stock rating from Market Perform to Outperform. The firm’s analysts project that Progressive will generate a mix of double-digit growth in net premiums written and net investment income. These are the recent developments in Progressive Corp.’s operations.
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