Shares of Progressive Corporation (The) (NYSE:PGR) Sees Large Outflow of Money

Progressive Corporation (The) (NYSE:PGR) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (20.37 million) in Progressive Corporation (The) (NYSE:PGR). On Wednesday, The value of composite uptick trades was $10.55 million, whereas, the value of composite downtick trades was $30.92 million and the ratio between the two was 0.34, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $20.5 million. $0.59 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.03. The negative money flow of ($19.9 million) shows selling on strength. Progressive Corporation (The) (NYSE:PGR) gained $0.66 intraday at $32.63 and registrered 2.06% for the week.


In an insider trading activity, 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. 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 77.53% 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 company shares have rallied 12.41% 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 $32.67 and the 200 Day Moving Average price is recorded at $32.44. Progressive Corporation (The) (NYSE:PGR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.16 and $32.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.63, notching a gain of 2.06% for the day. The total traded volume was 3,572,639 . The stock had closed at $31.97 on the previous day.

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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