Are Finance Stocks Lagging The Progressive (PGR) This Year?

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Progressive (PGR) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.

Progressive is a member of our Finance group, which includes 857 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Progressive is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for PGR's full-year earnings has moved 9.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, PGR has moved about 20.6% on a year-to-date basis. Meanwhile, stocks in the Finance group have gained about 3.7% on average. This means that Progressive is performing better than its sector in terms of year-to-date returns.

One other Finance stock that has outperformed the sector so far this year is Credicorp (BAP). The stock is up 12.3% year-to-date.

Over the past three months, Credicorp's consensus EPS estimate for the current year has increased 6.1%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Progressive belongs to the Insurance - Property and Casualty industry, which includes 37 individual stocks and currently sits at #36 in the Zacks Industry Rank. On average, stocks in this group have gained 15% this year, meaning that PGR is performing better in terms of year-to-date returns.

On the other hand, Credicorp belongs to the Banks - Foreign industry. This 69-stock industry is currently ranked #77. The industry has moved -2.1% year to date.

Going forward, investors interested in Finance stocks should continue to pay close attention to Progressive and Credicorp as they could maintain their solid performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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