Progressive Corp’s recent filing unveils that its VP and Chief Financial Officer Sauerland John P unloaded Company’s shares for reported $2.68 million on Nov 29 ’24. In the deal valued at $268.09 per share,10,000 shares were sold. As a result of this transaction, Sauerland John P now holds 292,958 shares worth roughly $73.31 million.
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Then, Sauerland John P bought 10,000 shares, generating $2,680,900 in total proceeds.
Before that, Broz Steven sold 2,981 shares. Progressive Corp shares valued at $748,678 were divested by the Chief Information Officer at a price of $251.15 per share. As a result of the transaction, Broz Steven now holds 26,353 shares, worth roughly $6.59 million.
HSBC Securities downgraded its Progressive Corp [PGR] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early September with a ‘”an Equal weight”‘ rating. Goldman also remained covering PGR and has increased its forecast on August 15, 2024 with a “Buy” recommendation from previously “Neutral” rating. HSBC Securities revised its rating on August 12, 2024. It rated PGR as “a Buy” which previously was an “a Hold”.
Price Performance Review of PGR
On Monday, Progressive Corp [NYSE:PGR] saw its stock fall -0.62% to $250.25. Over the last five days, the stock has gained 0.96%. Progressive Corp shares have risen nearly 57.81% since the year began. Nevertheless, the stocks have risen 63.70% over the past one year. While a 52-week high of $270.62 was reached on 11/27/24, a 52-week low of $148.48 was recorded on 01/02/24. SMA at 50 days reached $253.59, while 200 days put it at $227.93.
Levels Of Support And Resistance For PGR Stock
The 24-hour chart illustrates a support level at 248.63, which if violated will result in even more drops to 247.00. On the upside, there is a resistance level at 253.00. A further resistance level may holdings at 255.75. The Relative Strength Index (RSI) on the 14-day chart is 44.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -8.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.55%. Stochastics %K at 23.69% indicates the stock is a holding.
How much short interest is there in Progressive Corp?
A steep rise in short interest was recorded in Progressive Corp stocks on 2024-11-29, dropping by -0.77 million shares to a total of 4.34 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 5.11 million shares. There was a decline of -17.72%, which implies that there is a negative sentiment for the stock.
