Transaction details
Maribel Pumarejo, the Chief Marketing Officer at PROGRESSIVE CORP/OH/ (NYSE: PGR), completed a sale of 738.684 shares of the company's common stock on February 24, 2026. The shares were sold at $203.25 each, producing proceeds of approximately $150,137. After this sale, Pumarejo no longer directly owns any shares of Progressive.
Indirect holdings
Pumarejo retains an indirect stake in Progressive through a 401(k) Plan, which holds 1,048.544 shares. The transaction therefore eliminated her direct ownership while leaving a modest indirect position intact via the retirement plan.
Market context and valuation
The sale took place while Progressive's stock was trading near its 52-week low of $197.92; at the time of reporting the share price stood at $204.37. The insurer carries a market value of $119.87 billion and trades at a price-to-earnings ratio of 10.62. According to InvestingPro analysis cited in company materials, Progressive appears undervalued relative to its Fair Value and is listed among the platform's Most Undervalued stocks.
Recent operating results
Progressive reported a 4% increase in net income for January 2026, rising to $1.16 billion from $1.12 billion in the same month a year earlier. Net premiums written increased by 4% to $6.74 billion, and net premiums earned climbed 5% to $6.92 billion.
Analyst coverage and price targets
Analysts remain split in their outlooks. Goldman Sachs reiterated a Buy rating on Progressive and maintained a $225 price target, citing steady earnings per share estimates for 2026-2028 and a positive stance on expected buybacks. Separately, Jefferies trimmed its price target to $216 but kept a Hold rating, attributing the change to slightly higher projections for the Personal Auto loss ratio and expense ratio.
Keefe, Bruyette & Woods lowered its price target to $225 from $252 and maintained a Market Perform rating, flagging concerns about auto growth. Additionally, Goldman Sachs was noted to have reaffirmed a Buy rating with a $230 price target in connection with an increased 2026 Personal Auto policies-in-force growth forecast to 8.1%, a revision they tied to improved advertising efficiency.
Research access
Investors seeking greater detail are directed to Progressive's Pro Research Report, which is available exclusively on InvestingPro along with 14 additional ProTips for the stock.
Note: This article reports on the described insider transaction, recent operating metrics, and analyst commentary exactly as presented in company and research notes.