The Progressive Corporation [PGR] stock for 63,021 USD was sold by Mascaro Daniel P

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Progressive Corporation shares valued at $63,021 were sold by Mascaro Daniel P on May 24. At $112.94 per share, Mascaro Daniel P sold 558 shares. The insider’s holdings dropped to 38,887 shares worth approximately $4.54 million following the completion of this transaction.

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Also, Broz Steven sold 1,067 shares, netting a total of over 120,134 in proceeds. Following the sale of shares at $112.59 each, the insider now holds 31,321 shares.

Before that, Mascaro Daniel P had sold 558 shares from its account. In a trade valued at $63,383, the Vice Pres, Secretary and CLO traded The Progressive Corporation shares for $113.59 each. Upon closing the transaction, the insider’s holdings decreased to 558 shares, worth approximately $4.61 million.

As published in a research note from Keefe Bruyette on June 24, 2022, The Progressive Corporation [PGR] has been rated up from an Underperform to a Mkt perform and the price target has been revised to $107 from $96. This represents a -9.14% premium over Thursday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Sell”‘ outlook in a report released in late May. As of May 10, 2022, Jefferies has increased its “an Underperform” rating to a “Hold” for PGR. Earlier on May 09, 2022, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for PGR stock which previously was a “an Underweight”.

Analyzing PGR’s Price Performance

On Thursday, The Progressive Corporation [NYSE: PGR] rose 1.77% to $116.78. The stock’s lowest price that day was $114.49, but it reached a high of $117.44 in the same session. During the last five days, there has been a surge of approximately 2.27%. Over the course of the year, The Progressive Corporation shares have jumped approximately 13.77%. Shares of the company reached a 52-week high of $122.24 on 07/07/22 and a 52-week low of $100.81 on 02/24/22. A 50-day SMA is recorded $115.31, while a 200-day SMA reached $107.58. Nevertheless, trading volume fell to 2.63 million shares from 2.38 million shares the previous day.

Support And Resistance Levels for The Progressive Corporation (PGR)

According to the 24-hour chart, there is a support level at 115.03, which, if violated, would cause prices to drop to 113.29. In the upper region, resistance lies at 117.98. The next price resistance is at 119.19. RSI (Relative Strength Index) is 56.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.93, which suggests the price will increase in the coming days. Percent R is at 8.22%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is The Progressive Corporation subject to short interest?

Stocks of The Progressive Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.53 million shares to 6.66 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.19 million shares. A decline of -7.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.87 of the overall float, the days-to-cover ratio (short ratio) decline to 1.87.

Which companies own the most shares of The Progressive Corporation (PGR)?

According to The Vanguard Group, Inc. filings, the company currently owns 46,094,334 shares, which is about 7.88% of the total PGR shares outstanding. The investor’s shares have appreciated by 1,298,357 from its previous 13-F filing of 44795977.0 shares. With the completion of the buy transaction, Wellington Management Co. LLP’s stake is now worth $3,865,059,083. BlackRock Fund Advisors reduced a -0.09% interest valued at $3.33 billion while SSgA Funds Management, Inc. sold a -183,533 stake. A total of -508,865 shares of The Progressive Corporation were sold by JPMorgan Investment Management, I during the quarter, and -31,815 were sold by Massachusetts Financial Services. In its current portfolio, Geode Capital Management LLC holds 10,550,746 shares valued at $1.23 billion.

In terms of The Progressive Corporation share price expectations, FactSet research, analysts set an average price target of $114.44 in the next 12 months, up nearly 2.4% from the previous closing price of $114.75. Analysts anticipate The Progressive Corporation stock to reach $136.00 by 2022, with the lowest price target being $84.00. In spite of this, 21 analysts ranked The Progressive Corporation stock as a Hold at the end of 2022. On April 28, 2022, Credit Suisse assigned a price target of “a Neutral” to the stock and initiated coverage with a $124.


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