Is Assurant (AIZ) Stock Outpacing Its Finance Peers 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. Assurant (AIZ) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Assurant is a member of our Finance group, which includes 842 different companies and currently sits at #9 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Assurant is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIZ's full-year earnings has moved 15.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AIZ has returned about 33% since the start of the calendar year. In comparison, Finance companies have returned an average of 17.7%. This means that Assurant is outperforming the sector as a whole this year.
Another Finance stock, which has outperformed the sector so far this year, is Enact Holdings, Inc. (ACT). The stock has returned 21.1% year-to-date.
The consensus estimate for Enact Holdings, Inc.'s current year EPS has increased 5.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Assurant is a member of the Insurance - Multi line industry, which includes 34 individual companies and currently sits at #25 in the Zacks Industry Rank. On average, this group has gained an average of 5.3% so far this year, meaning that AIZ is performing better in terms of year-to-date returns. Enact Holdings, Inc. is also part of the same industry.
Assurant and Enact Holdings, Inc. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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Assurant, Inc. (AIZ) : Free Stock Analysis Report
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