Progressive Up 4%; 1Q EPS Increases to $2.51

By Michael Dabaie

Progressive Corp. shares were up 4% to $101.00 in early afternoon trading.

Before the market open, the company reported first-quarter earnings per share available to common shareholders of $2.51, up from $1.17 in the year-ago period. FactSet consensus was for GAAP EPS of $2.07.

The auto insurance company said net premiums written for the quarter were $11.7 billion, up from $9.9 billion. Net premiums earned came to $10.4 billion, up from $9.4 billion.

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(END) Dow Jones Newswires

04-15-21 1241ET