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? 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 854 individual stocks in the Finance sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for PGR's full-year earnings has moved 3.02% 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 32.72% so far this year. In comparison, Finance companies have returned an average of 11.55%. This means that The Progressive is performing better than its sector in terms of year-to-date returns.
Breaking things down more, PGR is a member of the Insurance - Property and Casualty industry, which includes 45 individual companies and currently sits at #44 in the Zacks Industry Rank. Stocks in this group have gained about 3.57% 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.