John P. Sauerland, the Vice President and Chief Financial Officer of Progressive Corp (NYSE:), recently executed a significant stock sale. On December 30, Sauerland sold 10,000 shares of Progressive’s common stock at a price of $238.66 per share, resulting in a total transaction value of approximately $2.39 million. The transaction comes as Progressive, now valued at $140 billion, has delivered an impressive 51% return over the past year. InvestingPro data shows the company maintains a “GREAT” financial health score of 3.31. This transaction was conducted under a 10b5-1 trading plan, which Sauerland adopted on August 22, 2024. Following this sale, Sauerland retains direct ownership of 282,958.359 shares, with an additional 13,321.803 shares held indirectly through a 401(k) plan. The company trades at a P/E ratio of 17.3 and has maintained consistent dividend payments for 15 consecutive years. For deeper insights into Progressive’s valuation and 12+ additional key metrics, visit InvestingPro, where you’ll find comprehensive Pro Research Reports covering what really matters for informed investment decisions.
In other recent news, Progressive Corp. experienced robust growth in November, with an 18% increase in net premiums written, reaching $5.56 billion. Net premiums earned also rose to $6.04 billion, up 19% from the previous year. The company’s net income surged by 48% to $1.01 billion, while earnings per share (EPS) grew from $1.15 to $1.71. Progressive’s combined ratio, a key profitability measure, improved from 91.1% to 85.6%.
The firm Raymond (NS:) James upgraded Progressive’s stock rating from Market Perform to Outperform, reflecting a positive outlook on the company’s growth prospects. BMO Capital maintained its Outperform rating on Progressive, despite trimming its price target to $267 from $273, citing better core loss ratios and reduced estimated losses from Hurricanes Helene and Milton.
Progressive also saw growth across various lines, including a 21% increase year-over-year in the total personal auto segment. The total number of personal lines policies rose by 18%, commercial lines by 4%, and property business by 14%, contributing to a companywide total growth of 17%. These are the recent developments affecting Progressive Corp.
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