Yahoo Finance Has Allstate (ALL) Outpaced Other Finance Stocks This Year?
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Allstate (ALL) 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? 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.
Allstate is one of 859 companies in the Finance group. The Finance group currently sits at #10 within the Zacks Sector Rank. 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 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. Allstate is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALL's full-year earnings has moved 8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ALL has gained about 23.1% so far this year. In comparison, Finance companies have returned an average of 0.8%. This shows that Allstate is outperforming its peers so far this year.
Another Finance stock, which has outperformed the sector so far this year, is Ameriprise Financial Services (AMP). The stock has returned 8.2% year-to-date.
The consensus estimate for Ameriprise Financial Services' current year EPS has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allstate is a member of the Insurance - Property and Casualty industry, which includes 40 individual companies and currently sits at #45 in the Zacks Industry Rank. On average, stocks in this group have gained 13.7% this year, meaning that ALL is performing better in terms of year-to-date returns.
Ameriprise Financial Services, however, belongs to the Financial - Investment Management industry. Currently, this 38-stock industry is ranked #50. The industry has moved +4.2% so far this year.
Allstate and Ameriprise Financial Services could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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
The Allstate Corporation (ALL) : Free Stock Analysis Report
Ameriprise Financial, Inc. (AMP) : Free Stock Analysis Report
