The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Progressive Corp. shares valued at $9,281,828 were sold by Griffith Susan Patricia on Jul 22 ’24. At $214.01 per share, Griffith Susan Patricia sold 43,371 shares. The insider’s holdings dropped to 517,105 shares worth approximately $112.92 million following the completion of this transaction.
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Also, Sauerland John P sold 22,708 shares, netting a total of over 4,859,739 in proceeds. Following the sale of shares at $214.01 each, the insider now holds 302,958 shares.
Before that, Niederst Lori A had sold 9,507 shares from its account. In a trade valued at $2,034,593, the CRM President traded Progressive Corp. shares for $214.01 each. Upon closing the transaction, the insider’s holdings decreased to 9,507 shares, worth approximately $8.52 million.
As published in a research note from Keefe Bruyette on July 17, 2024, Progressive Corp. [PGR] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $245 from $210. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in early March. As of January 10, 2024, TD Cowen has initiated its “Market perform” rating for PGR. Earlier on December 28, 2023, HSBC Securities initiated its rating. Their recommendation was “a Hold” for PGR stock.
Analyzing PGR Stock Performance
During the last five days, there has been a surge of approximately 1.43%. Over the course of the year, Progressive Corp. shares have jumped approximately 37.70%. Shares of the company reached a 52-week high of $229.00 on 07/18/24 and a 52-week low of $159.34 on 01/02/24. A 50-day SMA is recorded $211.87, while a 200-day SMA reached $190.73. Nevertheless, trading volume fell to 2.41 million shares from 2.08 million shares the previous day.
Support And Resistance Levels for Progressive Corp. (PGR)
According to the 24-hour chart, there is a support level at 215.66, which, if violated, would cause prices to drop to 212.96. In the upper region, resistance lies at 220.39. The next price resistance is at 222.42. RSI (Relative Strength Index) is 56.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.03, which suggests the price will increase in the coming days. Percent R is at 11.73%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
