Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Simon Property Group Inc. shares valued at $12,874 were purchased by STEWART MARTA R on Mar 31. At $134.10 per share, STEWART MARTA R acquired 96 shares. The insider’s holdings grew to 7,988 shares worth approximately $0.77 million following the completion of this transaction.
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Also, SMITH J ALBERT JR purchased 464 shares, netting a total of over 62,224 in proceeds. Following the buying of shares at $134.10 each, the insider now holds 55,714 shares.
Before that, Smith Daniel C. had added 229 shares to its account. In a trade valued at $30,710, the Director bought Simon Property Group Inc. shares for $134.10 each. Upon closing the transaction, the insider’s holdings increased to 229 shares, worth approximately $2.11 million.
As published in a research note from Argus on September 22, 2021, Simon Property Group Inc. [SPG] has been rated up from a Hold to a Buy and the price target has been revised to $142. This represents a 31.9% premium over Thursday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of July 20, 2021, Stifel has increased its “Hold” rating to a “Buy” for SPG. Earlier on June 04, 2021, UBS initiated its rating. Their recommendation was “a Neutral” for SPG stock.
Analyzing SPG’s Price Performance
On Thursday, Simon Property Group Inc. [NYSE: SPG] rose 0.78% to $96.70. The stock’s lowest price that day was $95.19, but it reached a high of $97.04 in the same session. During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, Simon Property Group Inc. shares have dropped approximately -39.48%. Shares of the company reached a 52-week high of $165.83 on 01/05/22 and a 52-week low of $93.50 on 06/16/22. A 50-day SMA is recorded $114.17, while a 200-day SMA reached $137.28. Nevertheless, trading volume fell to 2.37 million shares from 2.73 million shares the previous day.
Support And Resistance Levels for Simon Property Group Inc. (SPG)
According to the 24-hour chart, there is a support level at 95.58, which, if violated, would cause prices to drop to 94.46. In the upper region, resistance lies at 97.43. The next price resistance is at 98.16. RSI (Relative Strength Index) is 32.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.70, which suggests the price will decrease in the coming days. Percent R is at 83.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Simon Property Group Inc. (SPG)?
According to The Vanguard Group, Inc. filings, the company currently owns 47,751,268 shares, which is about 14.53% of the total SPG shares outstanding. The investor’s shares have appreciated by 1,844,583 from its previous 13-F filing of 45906685.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $2,693,312,628. BlackRock Fund Advisors acquire a 0.21% interest valued at $2.61 billion while Cohen & Steers Capital Management purchased a 115,937 stake. A total of 253,686 shares of Simon Property Group Inc. were bought by Geode Capital Management LLC during the quarter, and -77,165 were sold by Northern Trust Investments, Inc. In its current portfolio, Dimensional Fund Advisors LP holds 4,908,990 shares valued at $562.82 million.
In terms of Simon Property Group Inc. share price expectations, FactSet research, analysts set an average price target of $147.06 in the next 12 months, up nearly 55.81% from the previous closing price of $95.95. Analysts anticipate Simon Property Group Inc. stock to reach $173.00 by 2022, with the lowest price target being $117.00. In spite of this, 18 analysts ranked Simon Property Group Inc. stock as an Overweight at the end of 2022. On April 26, 2021, Evercore ISI assigned a price target of “an Outperform” to the stock and upgraded coverage with a $128.