The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is The Progressive (PGR - Free Report) 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 826 companies in the Finance group. The Finance group currently sits at #10 within 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PGR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PGR's full-year earnings has moved 14.12% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PGR has returned about 5.17% since the start of the calendar year. In comparison, Finance companies have returned an average of -3.11%. This shows that The Progressive is outperforming its peers so far this year.
To break things down more, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 48 individual companies and currently sits at #162 in the Zacks Industry Rank. On average, stocks in this group have lost 3.11% this year, meaning that PGR is performing better in terms of year-to-date returns.
PGR will likely be looking to continue its solid performance, so investors interested Finance stocks should continue to pay close attention to the company.