Allstate Leads the Pack: Outperforming Finance Sector in 2024

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Investors looking at finance stocks should identify those that are outperforming their peers. In 2024, Allstate (ALL) has shown notable performance within the Finance sector. Let’s analyze its performance and compare it to others in the sector.

Allstate is part of the Finance sector, which comprises 854 individual stocks, holding a Zacks Sector Rank of #15 out of 16. The Zacks Rank system is a reliable model that identifies stocks likely to outperform the market by emphasizing earnings estimate revisions and favoring companies with an improving earnings outlook. 

Allstate is currently ranked #1 (Strong Buy).

In the past quarter, the Zacks Consensus Estimate for Allstate’s full-year earnings increased by 16.6%. This indicates improved analyst sentiment and a more positive earnings outlook for the company.

The stock has gained approximately 13.4% year-to-date.

The sector has returned an average of 3.1% year-to-date, indicating that Allstate is outperforming its peers.

Another notable stock in the Finance sector is Credicorp (BAP), which has also outperformed the sector:

– Credicorp’s Year-to-Date Performance: The stock is up 4.5%.

– Earnings Estimate: The consensus EPS estimate for Credicorp increased by 1.3% over the past three months.

– Zacks Rank: Credicorp currently holds a Zacks Rank #2 (Buy).

– Allstate’s Industry: Allstate belongs to the Insurance – Property and Casualty industry, consisting of 40 stocks and ranked #20 in the Zacks Industry Rank. This industry has gained an average of 13.8% so far this year, meaning Allstate is slightly underperforming its industry in terms of year-to-date returns.

– Credicorp’s Industry: Credicorp falls under the Banks – Foreign industry, which includes 66 stocks and is ranked #47. Since the beginning of the year, this industry has moved up by 4%.

– Allstate: With a Zacks Rank #1 and a year-to-date gain of 13.4%, Allstate is a strong performer in the Finance sector. Despite slightly underperforming its industry average, it has significantly outperformed the broader sector.

– Credicorp: With a Zacks Rank #2 and a year-to-date gain of 4.5%, Credicorp is another strong contender within its industry, showing positive performance and earnings revisions.

Investors interested in Finance stocks should continue to track both Allstate and Credicorp as they seek to maintain their solid performance throughout the year.