Is Acadian Asset Management Inc. (AAMI) Outperforming Other Finance Stocks This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Acadian Asset ManagementAAMI-- (AAMI) 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.
Acadian Asset Management is one of 850 individual stocks in the Finance sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 AssetAAMI-- Management is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AAMI's full-year earnings has moved 2.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, AAMIAAMI-- has gained about 15.7% so far this year. Meanwhile, stocks in the Finance group have lost about 0.4% on average. This means that Acadian Asset Management is performing better than its sector in terms of year-to-date returns.
Another Finance stock, which has outperformed the sector so far this year, is Allstate (ALL). The stock has returned 0.8% year-to-date.
Over the past three months, Allstate's consensus EPS estimate for the current year has increased 4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Acadian Asset Management belongs to the Financial - Miscellaneous Services industry, which includes 103 individual stocks and currently sits at #78 in the Zacks Industry Rank. Stocks in this group have lost about 11.6% so far this year, so AAMI is performing better this group in terms of year-to-date returns.
In contrast, Allstate falls under the Insurance - Property and Casualty industry. Currently, this industry has 41 stocks and is ranked #70. Since the beginning of the year, the industry has moved -1.4%.
Acadian Asset Management and Allstate could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).
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