Is Affiliated Managers Group (AMG) Outperforming Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Affiliated Managers Group (AMG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Affiliated Managers Group is a member of the Finance sector. This group includes 855 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Affiliated Managers Group is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMG's full-year earnings has moved 7.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AMG has moved about 7.1% on a year-to-date basis. In comparison, Finance companies have returned an average of 6.8%. As we can see, Affiliated Managers Group is performing better than its sector in the calendar year.
Another stock in the Finance sector, CI Financial Corp. (CIXXF), has outperformed the sector so far this year. The stock's year-to-date return is 14%.
In CI Financial Corp.'s case, the consensus EPS estimate for the current year increased 16.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Affiliated Managers Group is a member of the Financial - Investment Management industry, which includes 39 individual companies and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 9.7% this year, meaning that AMG is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, CI Financial Corp. belongs to the Financial - Miscellaneous Services industry. This 68-stock industry is currently ranked #92. The industry has moved +6.2% year to date.
Affiliated Managers Group and CI Financial Corp. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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Affiliated Managers Group, Inc. (AMG) : Free Stock Analysis Report
CI Financial Corp. (CIXXF) : Free Stock Analysis Report
