Has Cigna (CI) Outpaced Other Finance Stocks This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Cigna (CI) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Cigna is a member of the Finance sector. This group includes 895 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Cigna is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CI's full-year earnings has moved 0.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CI has gained about 17.1% so far this year. At the same time, Finance stocks have lost an average of 2.9%. This means that Cigna is outperforming the sector as a whole this year.
Avidbank Holdings Inc. (AVBH) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1.2%.
Over the past three months, Avidbank Holdings Inc.'s consensus EPS estimate for the current year has increased 9.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cigna belongs to the Insurance - Multi line industry, a group that includes 34 individual stocks and currently sits at #194 in the Zacks Industry Rank. Stocks in this group have gained about 6.8% so far this year, so CI is performing better this group in terms of year-to-date returns.
Avidbank Holdings Inc. however, belongs to the Banks - West industry. Currently, this 34-stock industry is ranked #17. The industry has moved -13.3% so far this year.
Investors with an interest in Finance stocks should continue to track Cigna and Avidbank Holdings Inc. These stocks will be looking to continue their solid performance.
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