Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. The Progressive (PGR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 856 different companies and currently sits at #6 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PGR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PGR's full-year earnings has moved 3.56% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, PGR has gained about 32.21% so far this year. At the same time, Finance stocks have gained an average of 13.14%. This means that The Progressive is outperforming the sector as a whole this year.
To break things down more, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 42 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 4.49% 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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