Carl G Joyce, the Chief Accounting Officer at Progressive Corp (NYSE: PGR), executed a sale of 270 shares of common stock on March 20, 2026. The shares changed hands at $206.495 apiece, producing a total transaction value of $55,753.
The transaction occurred while Progressive stock was trading near its 52-week low of $197.92 and has declined about 20% over the last 12 months. InvestingPro valuation data cited in the report show the shares trading at a price-to-earnings ratio of 10.68 and a price/earnings-to-growth ratio of 0.32, metrics that the analysis describes as indicating the stock appears undervalued.
Following the disposition, Joyce directly holds 558.26 shares of Progressive. The filing also notes indirect holdings: 306.642 shares held through a 401(k) plan and 24.081 shares owned by a spouse.
Recent corporate and analyst developments
Progressive announced a quarterly cash dividend of $0.10 per share, payable to shareholders on April 10, 2026. In the analyst community, several firms have adjusted their outlooks:
- Barclays trimmed its 2026 and 2027 earnings-per-share estimates slightly, lowered its price target to $247 and maintained an Equalweight rating.
- Evercore ISI reiterated an In Line rating, citing stronger-than-expected policies in force and net premiums written.
- BMO Capital moved its price target to $208 based on its 2026 earnings view and raised its 2027 earnings-per-share estimate to align with consensus.
These analyst adjustments reflect ongoing reassessments of Progressive’s near-term earnings outlook while the company distributes a modest quarterly dividend.
Context within the trade and holdings
The insider sale reduced Joyce’s direct holding but left his cumulative direct and indirect exposure intact at levels disclosed in the filing. The transaction’s timing, amid depressed share price levels and updated analyst views, is documented in the regulatory report and the company’s public disclosures.
This summary is based on the transaction and analyst information included in the filing and related announcements. Where details are limited in those disclosures, this report reflects that limitation and does not add or infer other facts beyond what is reported.