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Is Enact Holdings, Inc. (ACT) Outperforming Other Finance Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. 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 a member of the Finance sector. This group includes 904 individual stocks and currently holds a Zacks Sector Rank of #2. 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 #1 (Strong Buy).

The Zacks Consensus Estimate for ACT's full-year earnings has moved 9.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that ACT has returned about 7.1% since the start of the calendar year. Meanwhile, the Finance sector has returned an average of 2.1% on a year-to-date basis. 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 AllianceBernstein (AB). The stock has returned 2.2% year-to-date.

For AllianceBernstein, the consensus EPS estimate for the current year has increased 6.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Enact Holdings, Inc. is a member of the Insurance - Multi line industry, which includes 33 individual companies and currently sits at #175 in the Zacks Industry Rank.


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Zacks Investment Research