Progressive Stock Is 25.1% Undervalued, But Momentum Lags as Insiders Sell

Progressive (PGR) is trading 25.1% below its intrinsic value, according to GuruFocus, which estimates the stock’s fair value at $268.58 while shares change hands at $201.23. The gap suggests a margin of safety for investors, supported by a trailing P/E of 10.46x—well under the company’s 5-year median of 19.43x. On April 16, 2026, Wells Fargo analyst Elyse Greenspan maintained an Equal-Weight rating on the stock, signaling expectations for market-level performance, while raising the price target from $215.00 to $218.00—a 1.40% upward revision. The GF Score™ of 81/100 reflects strong fundamentals, driven by top-tier ratings in growth (10/10) and profitability (8/10). Yet the momentum score is just 1/10, underscoring a lack of recent price strength. Over the past three months, insiders have sold $2.0 million in shares and made no purchases, a signal that may temper investor enthusiasm despite the apparent valuation discount.