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Investors focused on the Finance space have likely heard of Palomar Holdings (PLMR), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Palomar Holdings is a member of the Finance sector. This group includes 839 individual stocks and currently holds a Zacks Sector Rank of #6. 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. PLMR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PLMR's full-year earnings has moved 5.88% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PLMR has moved about 0.87% on a year-to-date basis. Meanwhile, the Finance sector has returned an average of -20.59% on a year-to-date basis. This means that Palomar Holdings is outperforming the sector as a whole this year.
Breaking things down more, PLMR is a member of the Insurance - Property and Casualty industry, which includes 43 individual companies and currently sits at #159 in the Zacks Industry Rank. On average, stocks in this group have lost 14% this year, meaning that PLMR is performing better in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to PLMR as it looks to continue its solid performance.
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