Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Progressive Corp shares valued at $2,680,900 were sold by Sauerland John P on Nov 29 ’24. At $268.09 per share, Sauerland John P sold 10,000 shares. The insider’s holdings dropped to 292,958 shares worth approximately $76.55 million following the completion of this transaction.
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Also, Sauerland John P purchased 10,000 shares, netting a total of over 2,680,900 in proceeds.
Before that, Broz Steven had sold 2,981 shares from its account. In a trade valued at $748,678, the Chief Information Officer traded Progressive Corp shares for $251.15 each. Upon closing the transaction, the insider’s holdings decreased to 2,981 shares, worth approximately $6.89 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 drop of approximately -2.09%. Over the course of the year, Progressive Corp shares have jumped approximately 64.77%. Shares of the company reached a 52-week high of $270.62 on 11/27/24 and a 52-week low of $159.34 on 01/02/24. A 50-day SMA is recorded $254.30, while a 200-day SMA reached $225.93. Nevertheless, trading volume fell to 2.97 million shares from 27946.0 shares the previous day.
Support And Resistance Levels for Progressive Corp (PGR)
According to the 24-hour chart, there is a support level at 259.69, which, if violated, would cause prices to drop to 258.08. In the upper region, resistance lies at 263.65. The next price resistance is at 266.00. RSI (Relative Strength Index) is 53.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 52.18%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
