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Are Finance Stocks Lagging Enact Holdings (ACT) This Year?

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The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Enact Holdings, Inc. (ACT - Free Report) one of those stocks right now? 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.

Enact Holdings, Inc. is a member of the Finance sector. This group includes 848 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Enact Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ACT's full-year earnings has moved 9.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, ACT has moved about 15.5% on a year-to-date basis. Meanwhile, the Finance sector has returned an average of 3.3% on a year-to-date basis. As we can see, Enact Holdings, Inc. is performing better than its sector in the calendar year.

Equinix (EQIX - Free Report) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 11.9%.

Over the past three months, Equinix's consensus EPS estimate for the current year has increased 5.4%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Enact Holdings, Inc. is a member of the Insurance - Multi line industry, which includes 34 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have lost 2.2% this year, meaning that ACT is performing better in terms of year-to-date returns.

Equinix, however, belongs to the REIT and Equity Trust - Retail industry. Currently, this 20-stock industry is ranked #72. The industry has moved -1.2% so far this year.

Investors interested in the Finance sector may want to keep a close eye on Enact Holdings, Inc. and Equinix as they attempt to continue their solid performance.


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