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Top Stock Picks for Week of October 28, 2024

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The Progressive Corporation (PGR - Free Report) is one of the major auto insurers in the country. Progressive continues to gain on higher premiums, given its compelling product portfolio, leadership position and strength in both Vehicle and Property businesses. Its focus on becoming a one-stop insurance destination, catering to customers opting for a combination of home and auto insurance, augurs well for the company's growth. Policies in force and retention ratio should remain healthy. Competitive pricing to retain current customers and address customer needs with new offerings should continue to drive policy life expectancy. Shares of Progressive have outperformed the industry over the past year. This Company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.7% over the last 60 days. Progressive reported revenues in the last reported quarter, representing a year-over-year change of +23.7%. The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period. Progressive has recently been on Zacks.com's list of the most searched stocks.  

SEI Investments Co. (SEIC - Free Report) is an asset management company that’s a leading provider of wealth management business solutions in the financial services industry.Shares of SEI Investments have outperformed the industry over the past month. Its third-quarter 2024 results reflect higher revenues and assets under management (AUM) balance. The company’s global presence, diverse product offerings, solid balance sheet, strategic acquisitions and robust AUM balance are expected to support revenue growth in the quarter ahead. The company’s plans to expand inorganically, technological innovations and the rising demand for SEI Wealth Platform (SWP) across financial institutions are expected to aid the company’s financials. A robust liquidity position will keep the company’s capital distributions sustainable. Technology is the backbone of SEI Investments’ businesses. SEI Investments has a strong balance sheet. Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost SEIC's consensus estimate. Looking at the next fiscal year, 6 estimates have moved upwards while there have been no downward revisions in the same time period.SEIC is a #1 (Strong Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep SEI Investments on your short list.


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