Commercial Lines President Karen Bailo Sells Shares of Progressive Corp (PGR)
Commercial Lines President Karen Bailo has sold 8,464 shares of Progressive Corp (NYSE:PGR) on March 5, 2024, according to a recent SEC Filing. The transaction was executed at an average price of $189.49 per share, resulting in a total value of $1,604,292.36.Progressive Corp, with a market cap of $114.70 billion, is one of the largest providers of car insurance in the United States. The company also offers insurance for motorcycles, boats, RVs, and commercial vehicles, and provides home insurance through select companies.Over the past year, the insider has sold a total of 8,464 shares and has not made any purchases of the company's stock. The insider transaction history for Progressive Corp shows a pattern of 27 insider sells and no insider buys over the past year.
The stock's price-earnings ratio stands at 29.76, which is above both the industry median of 12.71 and the company's historical median price-earnings ratio. This indicates that the stock is trading at a higher valuation compared to its peers and its own historical standards.With a current share price of $189.49 and a GuruFocus Value of $155.21, Progressive Corp's price-to-GF-Value ratio is 1.22. This suggests that the stock is modestly overvalued when considering the GF Value.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
