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Is The Progressive (PGR) Stock Outpacing Its Finance Peers 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? Let's take a closer look at the stock's year-to-date performance to find out.

The Progressive is a member of the Finance sector. This group includes 855 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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).

Within the past quarter, the Zacks Consensus Estimate for PGR's full-year earnings has moved 2.81% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Our latest available data shows that PGR has returned about 21.66% since the start of the calendar year. Meanwhile, stocks in the Finance group have gained about 13.87% on average. This means that The Progressive is outperforming the sector as a whole this year.

Looking more specifically, PGR belongs to the Insurance - Property and Casualty industry, which includes 42 individual stocks and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 7.12% so far this year, so PGR is performing better in this area.

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