Large Outflow of Money Witnessed in Progressive Corporation (The)

Progressive Corporation (The) (NYSE:PGR) managed to stay afloat and traded higher with an addition of 0.05 point or 0.14% at $32.71. The money flow data is a negative $(-3.12) million with $4.13 million in upticks and $7.24 million in downticks. The intraday up/down ratio came in at 0.57. The shares have seen -0.53% change for the week in its share price.From the data available, it was found that a block transaction occurred during the course of trading. For it, the aggregated worth of the upticks was $0.74 million and the combined worth of the downticks was $3.28, Million, leading to the up/down ratio of 0.23. The block trade saw a net money flow of $(-2.54) million.


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%. On the companys insider trading activities, The officer (Chief Marketing Officer), of Progressive Corp/Oh/, Charney M Jeffrey had unloaded 5,000 shares at $33.1 per share in a transaction on May 24, 2016. The total value of transaction was $165,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Progressive Corporation (The) (NYSE:PGR) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.33 points or 1.01% at $32.33 with 2,665,900 shares getting traded. Post opening the session at $32.68, the shares hit an intraday low of $32.29 and an intraday high of $32.845 and the price was in this range throughout the day. The company has a market cap of $18,848 million and the number of outstanding shares have been calculated to be 582,996,530 shares. The 52-week high of Progressive Corporation (The) (NYSE:PGR) is $35.5399 and the 52-week low is $27.23.

Many analysts have stated their opinion on the company shares. Citigroup downgrades its rating on Progressive Corporation (The) (NYSE:PGR). The global brokerage major lowers the current price target from $36 per share to $31 per share. Analysts at the Citigroup have a current rating of Sell on the shares. The shares were previously rated Neutral. 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.

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