The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. The Progressive (PGR - Free Report) 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 867 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PGR's full-year earnings has moved 5.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PGR has moved about 13.09% on a year-to-date basis. In comparison, Finance companies have returned an average of -6.71%. As we can see, The Progressive is performing better than its sector in the calendar year.
Looking more specifically, PGR belongs to the Insurance - Property and Casualty industry, which includes 47 individual stocks and currently sits at #186 in the Zacks Industry Rank. On average, stocks in this group have gained 2.55% this year, meaning that PGR is performing better in terms of year-to-date returns.
Investors in the Finance sector will want to keep a close eye on PGR as it attempts to continue its solid performance.