Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has The Progressive (PGR - Free Report) been one of those stocks this year? 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 856 different companies and currently sits at #11 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 3.33% 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 23.37% so far this year. Meanwhile, stocks in the Finance group have gained about 15.37% on average. As we can see, The Progressive is performing better than its sector in the calendar year.
To break things down more, PGR belongs to the Insurance - Property and Casualty industry, a group that includes 45 individual companies and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have gained about 8.64% so far this year, so PGR is performing better this group in terms of year-to-date returns.
PGR will likely be looking to continue its solid performance, so investors interested in Finance stocks should continue to pay close attention to the company.