Progressive Corp. (NASDAQ: PGR) Chief Information Officer Steven Broz sold 1,225 common shares on August 20 at $219.40 per share, totaling $268,765, under a pre-arranged 10b5-1 trading plan adopted on February 19, 2026. The transaction leaves Broz with a remaining beneficial ownership of 31,256,945 shares.
The insider sale occurred as Progressive's stock traded near $222.99, up 1.63% on the day, with a market capitalization of $129.62 billion and a P/E ratio of 11.18. The company's July earnings per share of $1.71 exceeded analyst estimates, supported by favorable reserve development that lifted results 3.5 percentage points above expectations.
Analysts maintained mixed views on Progressive following the July results. Jefferies kept a hold rating with a $228 price target, Goldman Sachs reiterated a buy rating with a $230 target, Mizuho cited a 2% year-over-year decline despite the beat, BMO Capital maintained a market-perform rating with a $205 target, and Morgan Stanley noted a 0.2% drop in auto insurance rates in July.
