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Progressive Corp (NYSE:PGR) posted strong first‑quarter earnings on Wednesday.
Progressive reported first-quarter earnings of $4.96 per share, topping analyst expectations of $4.87. Profit rose 6.4% from the same quarter last year, and net income for the quarter climbed to $2.82 billion, up 10% year‑over‑year.
The company also delivered solid top‑line growth. Quarterly sales rose 8% to $20.97 billion, though it didn’t meet the $22.96 estimate. Net premiums written increased 22% year-over-year to $23.64 billion.
Progressive shares rose 1.5% to trade at $204.59 on Thursday.
These analysts made changes to their price targets on Progressive …
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