NEW YORK ( TheStreet) -- Progressive Corporation (NYSE: PGR) hit a new 52-week high Monday as it is currently trading at $23.11, above its previous 52-week high of $23 with 349,936 shares traded as of 10:35 a.m. ET. Average volume has been 5.3 million shares over the past 30 days. Progressive has a market cap of $12.62 billion and is part of the financial sector and insurance industry. Shares are up 15.8% year to date as of the close of trading on Friday. 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 14.2, above the average insurance industry P/E ratio of 12.8 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Progressive as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Progressive Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.