Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Affiliated Managers Group (AMG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Affiliated Managers Group is one of 890 companies in the Finance group. The Finance group currently sits at #5 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 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. Affiliated Managers Group is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AMG's full-year earnings has moved 4.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, AMG has gained about 30.8% so far this year. Meanwhile, the Finance sector has returned an average of 3.1% on a year-to-date basis. This shows that Affiliated Managers Group is outperforming its peers so far this year.
Another stock in the Finance sector, Bank of China Ltd. (BACHY), has outperformed the sector so far this year. The stock's year-to-date return is 32.7%.
In Bank of China Ltd.'s case, the consensus EPS estimate for the current year increased 1.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Affiliated Managers Group belongs to the Financial - Investment Management industry, a group that includes 36 individual companies and currently sits at #107 in the Zacks Industry Rank. This group has lost an average of 13.2% so far this year, so AMG is performing better in this area.
Bank of China Ltd., however, belongs to the Banks - Foreign industry. Currently, this 85-stock industry is ranked #59. The industry has moved +12.7% so far this year.
Investors with an interest in Finance stocks should continue to track Affiliated Managers Group and Bank of China Ltd.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).