Progressive Corp’s business strains president sells shares for $348,139

Karen Bailo, the Industrial Strains President at Progressive Corp (NYSE:PGR), a $141 billion market cap insurance coverage large with a GREAT monetary well being rating based on InvestingPro, has bought 1,438 shares of the corporate’s widespread inventory. The shares had been bought at a worth of $242.10 every, totaling roughly $348,139. Following the transaction, Bailo retains possession of 32,343.92 shares within the firm. This sale was executed beneath a pre-established 10b5-1 buying and selling plan, which Bailo adopted on September 24, 2024. With 15 analysts lately revising earnings estimates upward and the corporate exhibiting sturdy returns over the previous decade, traders can entry detailed valuation metrics and 12 further key insights via InvestingPro‘s complete analysis report.

In different current information, Progressive Corp. has been the middle of assorted monetary updates. The insurance coverage firm demonstrated strong progress in November, reporting an 18% enhance in web premiums written to $5.56 billion, and a 19% rise in web premiums earned to $6.04 billion. Progressive’s web revenue additionally surged by 48% to $1.01 billion, whereas earnings per share (EPS) grew from $1.15 to $1.71. The corporate’s mixed ratio, a vital profitability measure, improved from 91.1% to 85.6%.

Raymond (NS:RYMD) James upgraded Progressive’s inventory score from Market Carry out to Outperform, citing optimistic progress prospects and worth creation capabilities. This improve aligns with the corporate’s sturdy current efficiency and the analysts’ forecast that Progressive will lead in policy-in-force (PIF) progress and obtain better-than-target mixed ratios within the close to time period.

In the meantime, BMO Capital maintained its Outperform score on Progressive, regardless of trimming its worth goal to $267 from $273. This adjustment adopted a rebound in Progressive’s efficiency, attributed to higher core loss ratios and lowered estimated losses from Hurricanes Helene and Milton. The agency’s EPS estimates for the years 2024, 2025, and 2026 mirror a blended image, with the 2024 estimate rising by 10% and the 2026 estimate seeing a 2% discount.

In different firm information, fellow insurance coverage firms GEICO and Vacationers (NYSE:TRV) confronted fines totaling $11.3 million for insufficient cybersecurity measures. These current developments illustrate the dynamic nature of the insurance coverage trade.

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