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 $748,678 were sold by Broz Steven on Oct 21 ’24. At $251.15 per share, Broz Steven sold 2,981 shares. The insider’s holdings dropped to 26,353 shares worth approximately $6.94 million following the completion of this transaction.
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Also, Broz Steven purchased 2,981 shares, netting a total of over 748,678 in proceeds.
Before that, Van Dyke Kahina had sold 2,180 shares from its account. In a trade valued at $549,970, the Director traded Progressive Corp shares for $252.28 each. Upon closing the transaction, the insider’s holdings decreased to 2,180 shares, worth approximately $3.62 million.
As published in their initiating research note from Barclays on September 05, 2024, Progressive Corp [PGR] has been an Equal weight and the price target has been revised to $367. Analysts at Goldman upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid August. As of August 12, 2024, HSBC Securities has increased its “Hold” rating to a “Buy” for PGR. Earlier on July 17, 2024, Keefe Bruyette upgraded its rating. Their new recommendation was “an Outperform” for PGR stock which previously was a “a Mkt perform”.
Analyzing PGR Stock Performance
During the last five days, there has been a surge of approximately 2.31%. Over the course of the year, Progressive Corp shares have jumped approximately 66.13%. Shares of the company reached a 52-week high of $263.85 on 11/11/24 and a 52-week low of $159.34 on 01/02/24. A 50-day SMA is recorded $252.86, while a 200-day SMA reached $222.39. Nevertheless, trading volume fell to 2.28 million shares from 1.64 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 259.26, which, if violated, would cause prices to drop to 255.07. In the upper region, resistance lies at 265.57. The next price resistance is at 267.69. RSI (Relative Strength Index) is 63.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.65, which suggests the price will increase in the coming days. Percent R is at 1.68%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
