Progress Corp. (PGR) Volatility Rises; Net Income in April Drops 45%, Revs Down 48%
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Progress Corp. (NYSE: PGR) shares are showing some weakness Wednesday after issuing April numbers.
According to the report, net income in the month slipped 48 percent to $61.2 million with net income per share dropping 45 percent to 10 cents.
Premiums written rose 9 percent t $1.67 billion while premiums earned moved 7 percent higher to $1.53 billion.
Implied volatility is up 11 percent on the session from Tuesday's close and at 127 percent of its annual historical average.
Shares are down 1.9 percent in early trade.
According to the report, net income in the month slipped 48 percent to $61.2 million with net income per share dropping 45 percent to 10 cents.
Premiums written rose 9 percent t $1.67 billion while premiums earned moved 7 percent higher to $1.53 billion.
Implied volatility is up 11 percent on the session from Tuesday's close and at 127 percent of its annual historical average.
Shares are down 1.9 percent in early trade.
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