Progressive Corporation (PGR): Today's Featured Insurance Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Progressive Corporation (PGR) pushed the Insurance industry lower today making it today's featured Insurance laggard. The industry as a whole closed the day up 0.3%. By the end of trading, Progressive Corporation fell 28 cents (-1.2%) to $22.30 on heavy volume. Throughout the day, 8.7 million shares of Progressive Corporation exchanged hands as compared to its average daily volume of 4.8 million shares. The stock ranged in price between $22.23-$22.68 after having opened the day at $22.53 as compared to the previous trading day's close of $22.58. Other companies within the Insurance industry that declined today were: MGIC Investment Corporation (MTG), down 8%, Triple-S Management Corporation (GTS), down 7.1%, Life Partners Holdings (LPHI), down 5.9%, and Tower Group (TWGP), down 4.1%.
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