Progressive(NYSE:PGR) Unhappy to Posts Quarter Results- PGR, AIG, HIG, MTG, BRK.B, ALL, XL

The Progressive Corporation (NYSE:PGR) announced on Friday its quarter results, its earnings per share for first quarter were 10 cents, slumped 45 present from 18 cents in the comparable month, year-before. Net income moved down 48 percent from April 2011 to $61.2 million in the declared month.

Lower net investment income and higher expenses resulted in lesser figures through the month.

The firm recorded net premiums of $1.67 billion in the month, up 9 percent from $1.54 billion in the year-before month. Net premiums earned were $1.53 billion, up 7 percent from $1.43 billion in the year-before quarter.

Turning towards the investors who viewing PGR against American International Group, Inc. (NYSE:AIG) small declined -0.49%, The Hartford Financial Services Grup Inc (NYSE:HIG) lost -1.33%, MGIC Investment Corp. (NYSE:MTG) slid -4.72%, Berkshire Hathaway Inc. (NYSE:BRK.B) fell -1.20%, The Allstate Corporation (NYSE:ALL) which also decreased -0.64% and XL Group plc (NYSE:XL) slipped -1.26%.

The Progressive Corporation (NYSE:PGR) slipped -0.14% or -$0.03 to close the trading at $21.31 following it hit intra day high level of $21.48. The total traded volume in the previous trading session was 7.97 million shares as compared to average 6.63 million shares. Its fifty two week trading range was $16.88 – $23.41. The total market capitalization reached $13.02 billion.

The stock price was ahead its 52 week low price with 28.81% and it lagged behind -8.97% from its 52 week maximum mark. Stock price volatility for last month remained 1.82%. In its share capital, the company has 611.16 million outstanding shares out of which 562.00 million shares have been floated in the market. For now, stock ownership with company’s management remained 7.76%.

PGR presented a negative weekly performance of -3.09% with respect to its rate of return and it remained -4.78% for the month. However, the performance for a quarter experienced a negative change of -0.61% and it slumped -0.19% for a year and its year to date performance remained in green with 11.40%.

Current stock price is in the downbeat territory taking into account of 20 days moving average with -1.59% and continued bearish run for 50 days moving average with -4.37%. Its earning per share for the past twelve months was $1.46. Company’s beta coefficient was at 0.87. Beta measures the amount of market risk associated with market trade.

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