NEW YORK (

TheStreet

) --

Progressive Corporation

(NYSE:

PGR

) hit a new 52-week low Thursday as it is currently trading at $17.03, below its previous 52-week low of $17.14 with 159,231 shares traded as of 9:36 a.m. ET. Average volume has been five million shares over the past 30 days.

Progressive has a market cap of $11.6 billion and is part of the

financial

sector and

insurance

industry. Shares are down 9.4% year to date as of the close of trading on Wednesday.

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The Progressive Corporation, through its subsidiaries, provides personal and commercial automobile insurance, and other specialty property-casualty insurance products and related services primarily in the United States. The company has a P/E ratio of 10.1, equal to the average insurance industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Progressive as a

hold

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and poor profit margins. You can view the full

Progressive Ratings Report

.

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