Are Finance Stocks Lagging Enact Holdings (ACT) This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Enact Holdings, Inc. (ACT) been one of those stocks this year? 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.
Enact Holdings, Inc. is one of 852 companies in the Finance group. The Finance group currently sits at #11 within 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. Enact Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACT's full-year earnings has moved 8.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ACT has gained about 16.1% so far this year. Meanwhile, stocks in the Finance group have gained about 5.7% on average. As we can see, Enact Holdings, Inc. is performing better than its sector in the calendar year.
Another Finance stock, which has outperformed the sector so far this year, is Omega Healthcare Investors (OHI). The stock has returned 12.6% year-to-date.
For Omega Healthcare Investors, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Enact Holdings, Inc. belongs to the Insurance - Multi line industry, a group that includes 35 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have lost 25.3% this year, meaning that ACT is performing better in terms of year-to-date returns.
In contrast, Omega Healthcare Investors falls under the REIT and Equity Trust - Other industry. Currently, this industry has 100 stocks and is ranked #189. Since the beginning of the year, the industry has moved -1.7%.
Investors interested in the Finance sector may want to keep a close eye on Enact Holdings, Inc. and Omega Healthcare Investors as they attempt to continue their solid performance.
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