Investors focused on the Finance space have likely heard of RenaissanceRe Holdings (RNR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
RenaissanceRe Holdings is a member of our Finance group, which includes 815 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. RNR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for RNR's full-year earnings has moved 26.15% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, RNR has moved about 6.84% on a year-to-date basis. Meanwhile, stocks in the Finance group have lost about 0.32% on average. This shows that RenaissanceRe Holdings is outperforming its peers so far this year.
Looking more specifically, RNR belongs to the Insurance - Property and Casualty industry, a group that includes 47 individual stocks and currently sits at #99 in the Zacks Industry Rank. On average, this group has gained an average of 9.57% so far this year, meaning that RNR is slightly underperforming its industry in terms of year-to-date returns.
RNR will likely be looking to continue its solid performance, so investors interested Finance stocks should continue to pay close attention to the company.