Bauer Jonathan S., Chief Investment Officer, has demonstrated a consistent selling bias in his trading activity involving Progressive Corp. (PGR), according to SEC Form 4 filings. Over 37 reported transactions, Bauer has exclusively sold shares, with no recorded purchases, totaling $5.59 million in aggregate sales. His recent activity includes five sales between January and February 2026, with notable transactions of $634,506.75 on January 21, 2026, and $460,111.30 on February 23, 2026. Earlier sales in 2025 were similarly substantial, including a $595,932.84 transaction on July 28, 2025, and two sales in March 2025 totaling $824,178.36.
The filings indicate that Bauer’s transactions are often accompanied by derivative dispositions (coded "F") and gifts (coded "G"), though these represent smaller values compared to outright sales. For example, on February 20, 2026, a derivative disposition of $395,235.58 was reported alongside a sale. The absence of any buy transactions suggests a sustained reduction in Bauer’s PGR holdings, with the most recent sales occurring in early 2026. The pattern aligns with a broader trend of divestment rather than accumulation, though the filings do not disclose whether these sales are part of a predetermined trading plan.
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