10 High Growth Financial Stocks To Invest In

8. RenaissanceRe Holdings Ltd. (NYSE:RNR)

5-Year Revenue Growth: 22.86%

Number of Hedge Fund Holders: 29

RenaissanceRe Holdings Ltd. (NYSE:RNR) is an insurance company that provides insurance and reinsurance services. This means that the company helps other insurers manage their risks by covering some of the losses they might face from large disasters, like hurricanes or earthquakes. Its direct insurance services include Property Insurance and Casualty Insurance. The company is based in Bermuda and operates internationally, providing its services in multiple countries, including the United States, Europe, and Asia.

On January 30, Wells Fargo’s analyst, Elyse Greenspan maintained a Buy rating on the stock with a price target of $227. RenaissanceRe Holdings Ltd. (NYSE:RNR) released its full-year results for fiscal 2024 recently. The latest earnings call indicates growth amidst a challenging environment. The company was able to grow its tangible book value plus accumulated dividends by 26% and the company’s operating income surpassed $2.2 billion. However, as a result of Hurricane Milton negatively impacted the company resulting in $270.5 million in net losses from the event.

Overall, financial success benefited from the strong performances across three key profit drivers including underwriting income, which reached $1.6 billion, net investment income, which reached $1.7 billion, and fee income, which contributed $326.8 million. RenaissanceRe Holdings Ltd. (NYSE:RNR) is one of the high-growth financial stocks to invest in now.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding The Allstate Corporation (NYSE:ALL) in its Q3 2024 investor letter:

“In the Financials sector, we tend to avoid banks that face credit deterioration or rising deposit costs, preferring either asset managers or specialized insurance companies. New to the portfolio this quarter is The Allstate Corporation (NYSE:ALL), a property and casualty insurer. A pullback in its stock price gave us an opportunity to add this position to the portfolio that has been on our radar for some time. Auto and homeowners’ insurance renewal ratios have stabilized. Several key states have given approval for auto insurance price increases and Allstate tactically reduced its coastal homeowners’ coverage.”