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Morgan Stanley’s latest rating for PGR stock

Progressive Corp.’s recently made public that its Director Johnson Devin C unloaded Company’s shares for reported $0.21 million on Apr 17 ’24. In the deal valued at $208.33 per share,1,000 shares were sold. As a result of this transaction, Johnson Devin C now holds 7,176 shares worth roughly $1.55 million.

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Then, Bailo Karen sold 8,464 shares, generating $1,603,843 in total proceeds. Upon selling the shares at $189.49, the Commercial Lines President now owns 32,342 shares.

Before that, Callahan Patrick K sold 29,675 shares. Progressive Corp. shares valued at $5,645,966 were divested by the Personal Lines President at a price of $190.26 per share. As a result of the transaction, Callahan Patrick K now holds 15,189 shares, worth roughly $3.28 million.

Morgan Stanley upgraded its Progressive Corp. [PGR] rating to an Overweight from a an Equal-weight in a research note published on March 06, 2024; the price target was increased to $227 from $185. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early January with a ‘”a Market perform”‘ rating. HSBC Securities began covering PGR with “Hold” recommendation on December 28, 2023. Wells Fargo revised its rating on December 18, 2023. It rated PGR as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of PGR

On Friday, Progressive Corp. [NYSE:PGR] saw its stock jump 0.95% to $215.76. Over the last five days, the stock has gained 3.37%. Progressive Corp. shares have risen nearly 36.06% since the year began. Nevertheless, the stocks have risen 61.27% over the past one year. While a 52-week high of $217.77 was reached on 05/08/24, a 52-week low of $110.92 was recorded on 01/02/24. SMA at 50 days reached $206.35, while 200 days put it at $168.18. A total of 2.12 million shares were traded, compared to the trading of 1.92 million shares in the previous session.

Levels Of Support And Resistance For PGR Stock

The 24-hour chart illustrates a support level at 214.29, which if violated will result in even more drops to 212.83. On the upside, there is a resistance level at 216.66. A further resistance level may holdings at 217.57. The Relative Strength Index (RSI) on the 14-day chart is 61.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.33, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.32%. Stochastics %K at 79.85% indicates the stock is a holding.

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