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 one of 849 individual stocks in the Finance sector. Collectively, these companies sit at #5 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 5.34% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, PGR has gained about 21.96% so far this year. Meanwhile, the Finance sector has returned an average of 10.12% 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 44 individual companies and currently sits at #99 in the Zacks Industry Rank. This group has gained an average of 1.58% so far this year, so PGR is performing better in this area.
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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