Jhe Finance group has many attractive stocks, but investors should always look for companies that outperform their peers. Is Ameriprise Financial Services (AMP) one of those stocks right now? A quick look at the company’s year-to-date performance relative to the rest of the financial industry should help answer that question.
Ameriprise Financial Services is a member of our Finance group, which includes 898 different companies and currently ranks second in the Zacks industry rankings. The Zacks Sector Ranking takes into account 16 different groups, measuring the average Zacks Ranking of individual stocks within the sector to gauge the strength of each group.
The Zacks ranking emphasizes earnings estimates and estimate revisions to find stocks with improved earnings prospects. This system has a long track 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 currently has a Zacks rating of #2 (buy).
The Zacks consensus estimate for AMP’s annual earnings rose 6.3% in the last quarter. That means analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the most recent data, AMP has generated a return of 0.4% so far this year. Meanwhile, the financials sector is posting an average return of -2% year-to-date. As we can see, Ameriprise Financial Services is performing better than its industry over the calendar year.
Another financial stock that has outperformed the sector so far this year is First United Corporation (FUNC). The stock is up 24.2% since the start of the year.
For First United Corporation, the current-year EPS consensus estimate has risen 20% over the past three months. The stock currently has a Zacks rank #2 (buy).
To break it down further, Ameriprise Financial Services belongs to the Financial – Investment Management sector, a group that comprises 45 individual companies and is currently ranked 104th in the Zacks Industry Rankings. On average, stocks in this group have lost 14.2% this year, meaning that AMP is showing better results in terms of returns since the start of the year.
On the other hand, First United Corporation belongs to the Banks – Northeast industry. This 90-stock industry is currently ranked #30. The industry has grown by +3.4% since the start of the year.
Going forward, investors interested in financials stocks should continue to pay close attention to Ameriprise Financial Services and First United Corporation as they may maintain their strong performance.
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