Progressive Corporation Surges to 96th in Trading Volume with $87.9 Million Turnover

On May 21, 2025, The Progressive Corporation (PGR) saw a significant increase in trading volume, with a turnover of $87.9 million, marking a 66.38% rise from the previous day. This surge placed PGR at the 96th position in terms of trading volume for the day.

Morgan Stanley has shown considerable interest in The Progressive Corporation, adding 2,051,148 shares to their portfolio in the first quarter of 2025, valued at approximately $580.49 million. This substantial investment reflects Morgan Stanley's confidence in the company's financial performance and growth prospects.

Despite a slight deceleration in net premiums written growth to 11%, Progressive has managed to improve its core auto loss ratio to 64%, down from 65% in the previous period. This improvement indicates that the company is effectively managing its underwriting risks and maintaining profitability.

Morgan Stanley has raised its price target for Progressive from $310 to $320, maintaining an "overweight" rating. This adjustment comes after a series of positive developments, including a strong financial performance and growth in policy numbers. Additionally, the company announced a quarterly dividend of ten cents per share, payable in July 2025, further enhancing its appeal to investors.

On May 19, Morgan Stanley analyst Bob Huang increased The Progressive Corporation's price target to $330 per share, representing a 3.12% increase from the previous target. This adjustment underscores the analyst's optimism about the company's future prospects and its ability to deliver strong financial results.