Insider transaction details
Progressive Corp (NYSE: PGR) Chief Investment Officer Jonathan S. Bauer sold 2,266 shares of the company on February 23 at a per-share price of $203.05, producing proceeds of approximately $460,111, according to a Form 4 filing with the Securities and Exchange Commission.
The filing also shows that Bauer had 1,954 shares withheld on February 20 to satisfy tax obligations. Those withheld shares were recorded at a price of $202.27, representing a notional value of $395,235. On that same February 20 date, Bauer received 4,220.898 shares as the result of vested performance-based restricted stock unit awards, also noted in the Form 4.
Progressive’s share price is trading near its 52-week low of $197.92 and has fallen by more than 20% over the last 12 months. InvestingPro analysis, as referenced in the filing disclosure, indicates the company may be undervalued at current market levels and the platform provides 14 additional ProTips for PGR alongside financial health scores and Fair Value estimates intended to aid investment decisions.
Recent operating and financial snapshot
In separate company reporting, Progressive posted a 4% rise in net income for January 2026, with reported net income of $1.16 billion versus $1.12 billion in January of the prior year. The insurer’s net premiums written increased 4% to $6.74 billion, while net premiums earned were up 5% to $6.92 billion compared with January 2025.
Analyst actions and outlook
Analyst opinions cited in the report show divergence. Goldman Sachs reiterated a Buy rating on Progressive and set a price target of $225.00. Jefferies lowered its price target to $216.00, citing pressures within the auto sector and lowering its earnings-per-share estimates for 2026-2028. Keefe, Bruyette & Woods reduced its price target to $225.00, pointing to concerns about auto growth. Separately noted in the same disclosures, Goldman Sachs is also reported as maintaining a Buy rating with a price target of $230.00, calling out an increase in growth forecasts for Personal Auto policies-in-force.
These items together outline recent insider activity, current trading context, and a range of analyst views on Progressive’s near-term prospects.