This company has delivered eye-popping returns for long-term investors.

Investing in the stock market is a great way to build wealth. Diversifying your holdings by including some high-quality stocks with proven track records of success can be a smart decision. You want to seek out companies with sound businesses, strong competitive advantages, and the ability to basically print cash year in and year out.

Progressive ( PGR -1.15% ) is one company that fits this bill. The insurer is a dominant player in the industry, and its performance has been incredible. Investors who bought $1,000 worth of Progressive in 1990 would've seen their investment grow to $4.69 million today. Here's what makes it such a great stock.

Disciplined underwriting has propelled Progressive higher

Progressive

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