Is Ameriprise Financial (AMP) Stock Outpacing Its Finance Peers This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Ameriprise Financial Services (AMP) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Ameriprise Financial Services is one of 870 companies in the Finance group. The Finance group currently sits at #13 within the Zacks Sector Rank. 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 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. Ameriprise Financial Services is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AMP's full-year earnings has moved 6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AMP has moved about 12.9% on a year-to-date basis. At the same time, Finance stocks have gained an average of 7.3%. This shows that Ameriprise Financial Services is outperforming its peers so far this year.
One other Finance stock that has outperformed the sector so far this year is AllianceBernstein (AB). The stock is up 17.7% year-to-date.
Over the past three months, AllianceBernstein's consensus EPS estimate for the current year has increased 11%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Ameriprise Financial Services belongs to the Financial - Investment Management industry, which includes 44 individual stocks and currently sits at #55 in the Zacks Industry Rank. This group has gained an average of 10.8% so far this year, so AMP is performing better in this area. AllianceBernstein is also part of the same industry.
Ameriprise Financial Services and AllianceBernstein could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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