Yahoo Finance Is American Coastal Insurance Corporation (ACIC) 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. American Coastal Insurance (ACIC) 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.
American Coastal Insurance is one of 854 individual stocks in the Finance sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. 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 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. American Coastal Insurance is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ACIC's full-year earnings has moved 20% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ACIC has returned about 13.6% since the start of the calendar year. In comparison, Finance companies have returned an average of 2.3%. This means that American Coastal Insurance is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Mr Cooper (COOP). The stock is up 25.6% year-to-date.
For Mr Cooper, the consensus EPS estimate for the current year has increased 9.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, American Coastal Insurance belongs to the Insurance - Property and Casualty industry, a group that includes 40 individual companies and currently sits at #29 in the Zacks Industry Rank. On average, this group has gained an average of 13% so far this year, meaning that ACIC is performing better in terms of year-to-date returns.
On the other hand, Mr Cooper belongs to the Financial - Consumer Loans industry. This 17-stock industry is currently ranked #45. The industry has moved +3.7% year to date.
Going forward, investors interested in Finance stocks should continue to pay close attention to American Coastal Insurance and Mr Cooper as they could maintain their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Coastal Insurance Corporation (ACIC) : Free Stock Analysis Report
MR. COOPER GROUP INC (COOP) : Free Stock Analysis Report
