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Is Ameriprise Financial (AMP) Outperforming Other Finance Stocks 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. Is Ameriprise Financial Services (AMP - Free Report) one of those stocks right now? 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.
Ameriprise Financial Services is one of 871 companies in the Finance group. The Finance group currently sits at #10 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 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. Ameriprise Financial Services is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMP's full-year earnings has moved 3.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AMP has returned 8% so far this year. Meanwhile, stocks in the Finance group have lost about 8.6% on average. This shows that Ameriprise Financial Services is outperforming its peers so far this year.
Another stock in the Finance sector, AllianceBernstein (AB - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 11.8%.
Over the past three months, AllianceBernstein's consensus EPS estimate for the current year has increased 8.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Ameriprise Financial Services belongs to the Financial - Investment Management industry, a group that includes 44 individual companies and currently sits at #62 in the Zacks Industry Rank. This group has lost an average of 14.5% 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.