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Stock Alert: Progressive Down 5%

Shares of insurance company The Progressive Corp.(PGR) are down 5 percent on Wednesday's trading as the company reported results for the month of April.

In April, the company posted net income of $316.2 million or $0.54 per share, down 67 percent from $952.6 million or $1.67 per share in the same period last year.

Net premiums earned, however, rose 14 percent to $4.13 billion from $3.63 billion last year. Net premiums written also climbed 18 percent to $4.45 billion from $3.76 billion last year.

The stock is currently trading at $99.89, down $6.09 or 5 percent on the NYSE.

PGR has traded between $72.71 and $107.59 in the past 52 weeks.

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