Why Progressive Stock Rose 10.7% in the First Half of 2020
Shares of insurance company Progressive (NYSE: PGR) rose 10.7% during the first six months of 2020, according to data provided by S&P Global Market Intelligence. That beat the S&P 500, which declined 4% in the first half of the year. It also handily outperformed most other major U.S. insurance companies, many of which saw share price declines of more than 30%.
Progressive just happened to be in the right sector of the insurance industry in 2020: auto insurance.
Image source: Getty Images.
Source Fool.com
