Large Inflow of Money Detected in Progressive Corporation (The)

Progressive Corporation (The) (PGR) : The money flow analysis of Progressive Corporation (The) (PGR) indicates a $5.65 million of outflow was on downticks, whereas, the investors on Wednesday gobbled up stocks worth $7.31 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.29 and so was the total money flow at $1.66 million. The bulls lapped up $0.54 million worth of block trades on upticks. The money flow was $0.54 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Progressive Corporation (The) (PGR), pushing it down by -0.18% for the day. The stock slid $0.06 and traded at $32.81 during the day. Nonetheless, the stock is -0.88% over the previous weeks close.


Also, 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.

Progressive Corporation (The) (NYSE:PGR): The stock opened at $32.89 on Wednesday but the bulls could not build on the opening and the stock topped out at $33.04 for the day. The stock traded down to $32.80 during the day, due to lack of any buying support eventually closed down at $32.80 with a loss of -0.21% for the day. The stock had closed at $32.87 on the previous day. The total traded volume was 1,786,574 shares.

The stock has recorded a 20-day Moving Average of 0.03% and the 50-Day Moving Average is 0.07%. In a related news, Barbagallo John A, Officer (Commercial Lines Grp President) of PROGRESSIVE CORP/OH/, unloaded 11,000 shares at an average price of $31.5 on June 28, 2016. The total amount of the transaction was worth $346,500, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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