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Is The Progressive (PGR) Stock Outpacing Its Finance Peers This Year?

Zacks
Let's see if Archer Daniels Midland Company (ADM) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.

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? One simple way to answer this question is to take a look at the year-to-date performance of PGR and the rest of the Finance group's stocks.

The Progressive is a member of our Finance group, which includes 866 different companies and currently sits at #7 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 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).

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Over the past three months, the Zacks Consensus Estimate for PGR's full-year earnings has moved 4.66% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, PGR has gained about 13.02% so far this year. Meanwhile, the Finance sector has returned an average of -9.81% on a year-to-date basis. As we can see, The Progressive is performing better than its sector in the calendar year.

Breaking things down more, PGR is a member of the Insurance - Property and Casualty industry, which includes 46 individual companies and currently sits at #191 in the Zacks Industry Rank. On average, stocks in this group have lost 0.75% this year, meaning that PGR is performing better in terms of year-to-date returns.

Going forward, investors interested in Finance stocks should continue to pay close attention to PGR as it looks to continue its solid performance.


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Zacks Investment Research