Think Progressive Stock Is Expensive? This Chart Might Change Your Mind.

Investors have been drawn to Progressive (PGR -0.08%) stock lately, in part because the insurer posted some encouraging numbers in its first-quarter earnings report. There's a price to pay for popularity, however.At the moment, on several valuation metrics, Progressive is more expensive than several well-known peers. Yet, you have to pay a premium for quality, and this applies in Progressive's case.An insurer that's been ensuring growthInsurance companies that offer auto coverage -- a Progressive strength - ...