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? 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.
The Progressive is a member of the Finance sector. This group includes 856 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PGR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PGR's full-year earnings has moved 7.15% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that PGR has returned about 24.32% since the start of the calendar year. At the same time, Finance stocks have gained an average of 13.19%. As we can see, The Progressive is performing better than its sector in the calendar year.
To break things down more, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 45 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, this group has gained an average of 4.94% so far this year, meaning that PGR is performing better in terms of year-to-date returns.
Investors with an interest in Finance stocks should continue to track PGR. The stock will be looking to continue its solid performance.
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