In a recent transaction on April 17, 2024, Devin C. Johnson, a director of Progressive Corp (NYSE:PGR), sold 1,000 shares of the company's stock. The shares were sold at an average price of $208.326, amounting to a total value of $208,326.
This sale has adjusted Johnson's holdings in the company, leaving him with a total of 7,176 shares of Progressive Corp's common stock. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is publicly available.
Investors often monitor the buying and selling activities of company insiders as these transactions can provide insights into their perspective on the company's future performance. However, it's essential to consider that these transactions can be motivated by various factors and may not necessarily indicate the executive's outlook on the company's financial health.
Shareholders and potential investors can view the full details of the transaction in the SEC filing. Progressive Corp, headquartered in Mayfield Village, Ohio, operates in the insurance industry, specifically within the fire, marine, and casualty insurance sector.
InvestingPro Insights
Progressive Corp (NYSE:PGR) has been a topic of discussion lately, not only due to insider transactions but also because of its performance in the market. As per InvestingPro data, the company boasts a robust market capitalization of $125.69 billion, reflecting its significant presence in the insurance industry. Despite concerns over short-term liquidity with obligations exceeding liquid assets, Progressive stands out with a Price to Earnings (P/E) ratio of 21.8, aligning with industry standards.
An important metric for investors to consider is the company's Price to Book (P/B) ratio, which currently stands at 5.74. This valuation metric, although on the higher end, is indicative of the market's positive sentiment towards Progressive's asset value and growth potential. Additionally, the company has experienced substantial revenue growth of 24.93% over the last twelve months as of Q1 2024, signaling strong business performance.
Turning to InvestingPro Tips, Progressive has been in the spotlight with 15 analysts revising their earnings upwards for the upcoming period, which may signal confidence in the company's future profitability. Moreover, Progressive has demonstrated a commitment to shareholders by maintaining dividend payments for 15 consecutive years, a testament to its financial stability and reliable income stream for investors.
For those looking to explore further insights and tips, InvestingPro offers a suite of additional metrics and analysis. Currently, there are 14 more InvestingPro Tips available for Progressive Corp, which can be accessed by subscribing to the service. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a deeper dive into the company's financials and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.