Is The Progressive (PGR) Stock Outpacing Its Finance Peers This Year?
Investors focused on the Finance space have likely heard of The Progressive (PGR), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
The Progressive is a member of our Finance group, which includes 856 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PGR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PGR's full-year earnings has moved 4.36% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PGR has returned 20.60% so far this year. At the same time, Finance stocks have gained an average of 10.84%. This means that The Progressive is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 45 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, stocks in this group have gained 3.03% this year, meaning that PGR is performing better in terms of year-to-date returns.
PGR will likely be looking to continue its solid performance, so investors interested in Finance stocks should continue to pay close attention to the company.
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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.