Is The Progressive (PGR) Outperforming Other Finance Stocks This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is The Progressive (PGR) one of those stocks right now? 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 one of 867 individual stocks in the Finance sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Within the past quarter, the Zacks Consensus Estimate for PGR's full-year earnings has moved 8.90% 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 23.81% so far this year. Meanwhile, the Finance sector has returned an average of -4.92% on a year-to-date basis. This means that The Progressive is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 47 individual stocks and currently sits at #159 in the Zacks Industry Rank. On average, this group has gained an average of 6.28% 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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