Why Protective Insurance's Stock Is Trading Higher Today

Protective Insurance PTVCA shares are trading higher Tuesday after Progressive announced it acquired the company.

Protective Insurance is engaged in marketing and underwriting property and casualty insurance and also acts as a reinsurer for limited risk in the U.S. The company mainly provides multiple-line insurance coverages primarily to fleet transportation companies as well as to independent contractors. It also provides private passenger automobile products to individuals, workers' compensation coverage to small businesses and professional liability products on a selective basis. Its revenue comprises of premium, commission, fees and other income.

Protective Insurance shares traded up 40.92% to $22.90 Tuesday. The stock has a 52-week high of $23.10 and a 52-week low of $10.95.

See also: Best Umbrella (Liability) Insurance