For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Acadian Asset Management (AAMI) 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.
Acadian Asset Management is one of 858 individual stocks in the Finance sector. Collectively, these companies sit at #6 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Acadian Asset Management is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AAMI's full-year earnings has moved 1.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AAMI has returned 18.3% so far this year. At the same time, Finance stocks have gained an average of 17.9%. This shows that Acadian Asset Management is outperforming its peers so far this year.
One other Finance stock that has outperformed the sector so far this year is Amalgamated Financial (AMAL). The stock is up 20% year-to-date.
In Amalgamated Financial's case, the consensus EPS estimate for the current year increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Acadian Asset Management belongs to the Financial - Miscellaneous Services industry, a group that includes 103 individual companies and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have lost about 9.1% so far this year, so AAMI is performing better this group in terms of year-to-date returns.
Amalgamated Financial, however, belongs to the Financial - SBIC & Commercial Industry industry. Currently, this 36-stock industry is ranked #172. The industry has moved -12.5% so far this year.
Investors with an interest in Finance stocks should continue to track Acadian Asset Management and Amalgamated Financial. These stocks will be looking to continue their solid performance.
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Acadian Asset Management Inc. (AAMI): Free Stock Analysis Report Amalgamated Financial Corp. (AMAL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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