Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Enact Holdings, Inc. (ACT – Free Report) one of those stocks right now? Let’s take a closer look at the stock’s year-to-date performance to find out.
Enact Holdings, Inc. is one of 868 individual stocks in the Finance sector. Collectively, these companies sit at #1 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Enact Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACT’s full-year earnings has moved 2.2% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, ACT has moved about 1.6% on a year-to-date basis. Meanwhile, stocks in the Finance group have lost about 1.3% on average. This shows that Enact Holdings, Inc. is outperforming its peers so far this year.
Another stock in the Finance sector, Erie Indemnity (ERIE – Free Report) , has outperformed the sector so far this year. The stock’s year-to-date return is 1.5%.
For Erie Indemnity, the consensus EPS estimate for the current year has increased 0.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Enact Holdings, Inc. belongs to the Insurance – Multi line industry, which includes 41 individual stocks and currently sits at #55 in the Zacks Industry Rank. On average, stocks in this group have gained 0.6% this year, meaning that ACT is performing better in terms of year-to-date returns.
In contrast, Erie Indemnity falls under the Insurance – Brokerage industry. Currently, this industry has 9 stocks and is ranked #141. Since the beginning of the year, the industry has moved +9.2%.
Investors with an interest in Finance stocks should continue to track Enact Holdings, Inc. and Erie Indemnity. These stocks will be looking to continue their solid performance.
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