Progressive Corporation (PGR): Today's Featured Insurance Loser

Tickers in this article: PGR

The insurance industry closed the day up 1.4%. Kingsway Financial Services Inc (KFS), Phoenix Companies Inc (PNX), Radian Group Inc (RDN), and 21st Century Holding Company (TCHC) were all decliners today within the insurance industry with Progressive Corporation (PGR) being today's featured insurance loser. Progressive Corporation fell 24 cents (-1.3%) to $17.95 on average volume. Throughout the day, seven million shares of Progressive Corporation exchanged hands as compared to its average daily volume of 5.7 million shares.

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 $11.9 billion and is part of the financial sector. The company has a P/E ratio of 10.4, equal to the average insurance industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 8.5% year to date as of the close of trading on Thursday.

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.

On the positive front, First Acceptance Corporation (FAC), Imperial Holdings Inc (IFT), Kingstone Companies Inc (KINS), and Lincoln National Corp (Radnor (LNC) were all gainers within the insurance industry with Berkshire Hathaway Inc (BRK.B) being today's featured insurance industry winner.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the insurance industry could consider KBW Insurance ETF (KIE) while those bearish on the insurance industry could consider Proshares Short Financials (SEF).

Tickers in this article: PGR