Progressive Corporation (The) (NYSE:PGR) has tumbled 2.6% during the past week and has dropped 3.55% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.43%. Progressive Corporation (The) (NYSE:PGR) has underperformed the index by 4.43% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Progressive Corporation (The) (NYSE:PGR): The stock opened at $31.81 on Friday but the bulls could not build on the opening and the stock topped out at $31.93 for the day. The stock traded down to $31.67 during the day, due to lack of any buying support eventually closed down at $31.81 with a loss of -0.41% for the day. The stock had closed at $31.94 on the previous day. The total traded volume was 2,604,988 shares.
The company shares have rallied 13.28% from its 1 Year high price. On Apr 4, 2016, the shares registered one year high at $35.54 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $32.86 and the 200 Day Moving Average price is recorded at $32.35.
On the companys insider trading activities, Charney M Jeffrey, officer (Chief Marketing Officer) of Progressive Corp/Oh/, unloaded 5,000 shares at an average price of $33.1 on May 24, 2016. The total amount of the transaction was worth $165,500, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Brokerage firm Citigroup downgrades its rating on Progressive Corporation (The) (NYSE:PGR). As per the latest information, the brokerage house lowers the price target to $31 per share from a prior target of $36. The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 2, 2016. Currently 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 -6.7% . Institutional Investors own 77.48% of Progressive Corporation (The) shares. During last six month period, the net percent change held by insiders has seen a change of 34.46%.
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.