Progressive Reaches New 52-Week High (PGR)

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.

NEW YORK ( TheStreet) -- Progressive Corporation (NYSE: PGR) hit a new 52-week high Tuesday as it is currently trading at $25.94, above its previous 52-week high of $25.93 with 491,946 shares traded as of 9:55 a.m. ET. Average volume has been 3.3 million shares over the past 30 days.

Progressive has a market cap of $15.51 billion and is part of the financial sector and insurance industry. Shares are up 21.8% year to date as of the close of trading on Monday.

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 16.4, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Progressive as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in net income, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Progressive Ratings Report.

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