RTTNews | Apr 15, 2021 10:43AM EDT

10:28 Thursday, April 15, 2021 (RTTNews.com) - Shares of The Progressive Corp. (PGR) are rising over 3% Thursday morning, after the auto insurance company reported better-than-expected Q1 results.

The stock, which has been trading between $71.25 and $102.05 in the past one year, is currently trading at $100.83, up $3.68 or 3.79%, with trading volume of over 865K versus an average volume of 3.06 million shares.

The company posted first-quarter net income of $1.48 billion or $2.51 per share, up from $692.7 million or $1.17 per share in the same period last year. On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $1.72 per share in the quarter. Analysts' estimates usually exclude certain special items.

Quarterly revenues rose 23% to $11.4 billion from $9.3 billion in the year-ago period. On average, 7 analysts expected the company to report revenues of $11.2 billion in the quarter.

During the quarter, net premiums earned was up 10% to $10.4 billion from $9.4 billion in the prior-year period. Net written premiums rose 19% to $11.7 billion from $9.8 billion a year ago.

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