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Recent 52-Week High Exceeded in Shares of Progressive (PGR)

By Shiri Gupta

Progressive (NYSE:PGR) traded today at a new 52-week high of $41.98. So far today approximately 155,000 shares have been exchanged, as compared to an average 30-day volume of 3.1 million shares.

In the past 52 weeks, shares of Progressive have traded between a low of $26.67 and a high of $41.98 and are now at $41.97, which is 57% above that low price. The 200-day and 50-day moving averages have moved 0.15% higher and 0.25% higher over the past week, respectively.

The Progressive Corporation is an insurance holding company. The Company, through its subsidiaries, provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States.

Based on a current price of $41.97, Progressive is currently 10.1% above its average consensus analyst price target of $37.71. Progressive shares have support at the 50-day moving average (MA) of $33.70 and additional support at the 200-day MA of $31.73.

SmarTrend recommended that subscribers consider buying shares of Progressive on October 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.82. Since that recommendation, shares of Progressive have risen 27.4%. We continue to monitor PGR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Progressive

Ticker(s): PGR