5 Stocks Pulling The Financial Sector Downward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 57 points (-0.3%) at 16,357 as of Wednesday, Jan. 22, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,698 issues advancing vs. 1,213 declining with 185 unchanged.

The Financial sector currently sits up 0.1% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include ING Groep N.V ( ING), down 1.9%, KB Financial Group ( KB), down 1.6%, Royal Bank of Scotland Group (The ( RBS), down 1.2%, Royal Bank Of Canada ( RY), down 1.1% and Toronto-Dominion Bank ( TD), down 1.0%. Top gainers within the sector include Signature Bank ( SBNY), up 3.0%, Northern Trust Corporation ( NTRS), up 2.4%, Credicorp ( BAP), up 2.2%, Banco Santander Chile ( BSAC), up 1.8% and Regions Financial Corporation ( RF), up 1.5%.

TheStreet would like to highlight 5 stocks pushing the sector lower today:

5. Progressive Corporation ( PGR) is one of the companies pushing the Financial sector lower today. As of noon trading, Progressive Corporation is down $0.39 (-1.5%) to $25.54 on heavy volume. Thus far, 4.8 million shares of Progressive Corporation exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $25.16-$25.90 after having opened the day at $25.85 as compared to the previous trading day's close of $25.93.

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. Progressive Corporation has a market cap of $15.4 billion and is part of the insurance industry. The company has a P/E ratio of 14.0, below the S&P 500 P/E ratio of 17.7. Shares are down 4.9% year-to-date as of the close of trading on Tuesday. Currently there are no analysts that rate Progressive Corporation a buy, 8 analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Progressive Corporation as a buy. 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, notable return on equity, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Progressive Corporation Ratings Report now.

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