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Are Finance Stocks Lagging ING Group (ING) 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. ING Groep (ING - Free Report) 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.
ING Groep is a member of our Finance group, which includes 870 different companies and currently sits at #13 in 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 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. ING Groep is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ING's full-year earnings has moved 13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ING has moved about 11.4% on a year-to-date basis. At the same time, Finance stocks have gained an average of 8.3%. As we can see, ING Groep is performing better than its sector in the calendar year.
One other Finance stock that has outperformed the sector so far this year is Kinsale Capital Group, Inc. (KNSL - Free Report) . The stock is up 11.1% year-to-date.
Over the past three months, Kinsale Capital Group, Inc.'s consensus EPS estimate for the current year has increased 0.7%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ING Groep is a member of the Banks - Foreign industry, which includes 67 individual companies and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 9.4% so far this year, meaning that ING is performing better in terms of year-to-date returns.
In contrast, Kinsale Capital Group, Inc. falls under the Insurance - Property and Casualty industry. Currently, this industry has 41 stocks and is ranked #103. Since the beginning of the year, the industry has moved -0.3%.
ING Groep and Kinsale Capital Group, Inc. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.