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Has The Progressive (PGR) Outpaced Other Finance Stocks This Year?

Zacks Equity Research

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? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.

The Progressive is a member of our Finance group, which includes 854 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PGR is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for PGR's full-year earnings has moved 2.46% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, PGR has returned 37.83% so far this year. In comparison, Finance companies have returned an average of 11.49%. As we can see, The Progressive is performing better than its sector in the calendar year.

Looking more specifically, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 44 individual stocks and currently sits at #41 in the Zacks Industry Rank. On average, stocks in this group have gained 4.59% this year, meaning that PGR is performing better in terms of year-to-date returns.

Investors in the Finance sector will want to keep a close eye on PGR as it attempts to continue its solid performance.


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Zacks Investment Research