Progressive Corporation (The) (PGR) has risen sharply, recording gains of 2.63% in the past 4 weeks. However, the stock has corrected -0.44% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.58% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.52% and the 50-Day Moving Average is 3.47%. Progressive Corporation (The) (NYSE:PGR): On Fridays trading session , Opening price of the stock was $34.06 with an intraday high of $34.15. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $33.96. However, the stock managed to close at $33.97, a loss of 0.35% for the day. On the previous day, the stock had closed at $34.09. The total traded volume of the day was 1,193,701 shares.
The company Insiders own 0.6% of Progressive Corporation (The) shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -16.42% . Institutional Investors own 77.08% of Progressive Corporation (The) shares. During last six month period, the net percent change held by insiders has seen a change of -16.42%. Also, Citigroup downgrades their rating on the shares of Progressive Corporation (The) (NYSE:PGR). The current rating of the shares is Sell. Earlier, the shares were rated a Neutral by the brokerage firm. Equity Analysts at the Firm lowers the price target to $31 per share from $36 per share. The rating by the firm was issued on June 2, 2016.
The Progressive Corporation is an insurance holding company. The Companys insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance, commercial auto and truck insurance principally for small businesses, and other specialty property-casualty insurance and related services. The Companys property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.