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This article discusses the 10 best insurance stocks under $70. If you want to read about other insurance stocks, please visit us directly. 5 best insurance stocks under $70.
The insurance sector has performed outstandingly in volatile US markets over the past few months, showing remarkable flexibility in overcoming a range of challenges, including the impact of the pandemic and the economic fallout from Russian aggression. and show resilience. of Ukraine.according to report This outperformance continues to be threatened by rising inflation, interest rates, cost of loss, the looming threat of recession, climate change and geopolitical turmoil, according to research firm Deloitte.
The best insurance companies include Humana Inc. (NYSE:ham), Cigna Corporation (NYSE:CIs), and MetLife (NYSE:MET). Deloitte estimates property-casualty premium hikes have pushed premium volumes higher, and the US consolidated surplus is one of the main factors that pushed him over $1 trillion for the first time, but inflation is mostly responsible. This is despite the fact that it is pushing up the cost of damage even higher and faster in the market.
As of May 12, average replacement costs were up 16.3%, almost double the increase in the consumer price index, according to the research firm. These figures highlight a major argument that inflation continues to hamper the profitability of property and casualty insurance despite boosting industry price and top-line growth. Research company RSM Claim Two key trends that investors should keep an eye on in this space going forward include artificial intelligence and machine learning. These can provide flexibility that allows insurers to innovate and transform faster, according to RSM.
our methodology
Companies operating in the insurance sector with a transaction value of less than $70 were selected for the list. We also discuss the stock’s business fundamentals and analysts’ evaluations to put readers in context of their investment choices. Using data from nearly 900 elite hedge funds tracked by Insider Monkey in the second quarter of 2022, we identified the number of hedge funds holding stock in each company.
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best insurance stocks under $70
10. Aegon NV (NYSE:electric gun)
Hedge fund holders: 7
Share price on October 13: $3.77
Aegon NV (NYSE:AEG) provides insurance, pension and wealth management services in the Americas, the Netherlands and the United Kingdom. One of the best insurance stocks to invest in. The company’s share price has recently risen after the company announced it would buy back $413 million in debt and $300 million in common stock after completing the sale of its Hungarian business. Revenue of €620 million.
On September 13, Societe Generale analyst Nick Holmes upgraded Aegon NV (NYSE:AEG) to buy from hold without changing its price target to €5.25.
At the end of the second quarter of 2022, seven hedge funds in Insider Monkey’s database held shares in Aegon NV (NYSE:AEG) worth $16.9 million.
Along with Humana Inc. (NYSE:HUM), Cigna Corporation (NYSE:CI) and MetLife Inc. (NYSE:MET), Aegon NV (NYSE:AEG) is one of the best insurance stocks to buy now.
9. American Equity Investment Life Holding Company (New York Stock Exchange:AEL)
Number of hedge fund holders: 14
Share price on October 13: $38.75
American Equity Investment Life Holding Company (NYSE:AEL) We provide life insurance products in the United States. One of the top insurance stocks to invest in. On Aug. 8, the company released his second-quarter 2022 earnings, which earned him $0.98 per share, beating expectations by $0.27. Revenue for the period was $121.4 million.
On August 11, Truist analyst Mark Hughes maintained his Buy rating on American Equity Investment Life Holding Company (NYSE:AEL) stock, raising its price target from $45 to $51, with a Q2 2022 target. highlighted the company’s revenue growth.
Among the hedge funds tracked by Insider Monkey is the New York-based investment firm Puzena Investment Management It is the largest shareholder of American Equity Investment Life Holding Company (NYSE:AEL), with 1.7 million shares valued at more than $63.7 million.
In the second quarter 2022 investor letter, First Pacific AdvisorsAsset management firm has highlighted several stocks, one of which is American Equity Investment Life Holding Company (NYSE:AEL). here The fund said:
“American Equity Investment Life Holding Company (NYSE:AEL), a leading writer of fixed index annuities, continues its transition to the American Equity Investments (AEL) 2.0 business model. The main goal is to diversify the company’s assets across a wide range of investments, including private debt, through strategic partnerships and increase the use of reinsurance to free up capital, which is an interesting but somewhat aggressive plan. So far, the results have been impressive, but we have been monitoring the credit quality of their assets, up from 15.4%, towards meeting our goal of having 40% of our portfolio invested in private assets. I am continuing.”
8. Manulife Financial Corporation (NYSE:MFC)
Number of hedge fund holders: 15
Share price on October 13: $21.23
Manulife Financial Corporation (NYSE:MFC) We provide financial products and services in Asia, Canada, the United States and internationally. One of the best insurance stocks to invest in. On June 29, the company announced that it had received an application from Chinese regulators to take full control of a Chinese joint venture as the world’s second largest economy continues to open up its financial sector. announced. Allow foreign companies to fully own their operations there.
On July 27, Scotiabank analyst Menny Grauman raised Manulife Financial Corporation’s (NYSE:MFC) stock price from sector perform to outperform, with a price target of C$27. Instead, analysts said they remained positive on the insurance sector despite the stock market’s decline.
At the end of the second quarter of 2022, 15 hedge funds in Insider Monkey’s database held shares worth $155 million in Manulife Financial Corporation (NYSE:MFC).
In the second quarter 2022 investor letter, Harding RavenorWealth management firm highlights several stocks, including Manulife Financial Corporation (NYSE:MFC). here The fund said:
“Manulife Financial Corporation (NYSE:MFC) is a Canadian life insurance company with operations primarily in North America and Asia. Manulife provides complete life insurance products, as well as retirement and wealth management services. Wealth management and retirement products appeal to the aging population of the western world, while long-term life insurance products cater to the needs of growing middle-class families in places like China and Southeast Asia. Stocks have heavily discounted long-term value estimates due to the COVID-19 lockdown in the United States. .”
7. Unum Group (NYSE:UNM)
Number of hedge fund holders: 25
Share price on October 13: $40.66
Unum Group (NYSE:UNM) provides financial protection benefit solutions primarily in the US, UK and Poland. His CFO at the company, Steve Zabel, said on Sept. 14 that his relationship with IT and finance at the company has strengthened over the years with an emphasis on accountability. He added that finance has become more directly involved, prioritizing where the dollar is spent, but also focusing on value creation.
On Sept. 22, Raymond James analyst Wilma Verdis launched coverage of the Unum Group (NYSE:UNM) stock, giving it a market performance rating, no price target, and an LTC block. He noted that the company’s valuation reflected expectations that provisions would continue to strengthen within the company.
At the end of the second quarter of 2022, 25 hedge funds in Insider Monkey’s database held $436 million worth of shares in Unum Group (NYSE:UNM), compared to 30 funds in the previous quarter. was $323.5 million.
6. Lincoln National Corporation (NYSE:LNC)
Hedge fund holders: 34
Share price on October 13: $48.22
Lincoln National Corporation (NYSE:LNC) operates several insurance and retirement businesses. The company’s insurance products include life insurance products including term insurance such as single and survivorship versions of universal life insurance. There are variable universal life insurance, index-linked universal life insurance products, serious illness riders, long-term medical treatment riders, etc.
Among the hedge funds tracked by Insider Monkey is New York-based investment firm Lyrical Asset Management. It is the largest shareholder of Lincoln National Corporation (NYSE:LNC), with 3.9 million shares valued at more than $185 million.
Along with Humana Inc. (NYSE:HUM), Cigna Corporation (NYSE:CI), and MetLife, Inc. (NYSE:MET), Lincoln National Corporation (NYSE:LNC) is one of the best insurance stocks to buy right now. is one of to hedge funds.
In its Q2 2022 investor letter, Chartwell Investment Partners said: Property management company Lincoln National Corporation (NYSE:LNC) is one of them. here The fund said:
“The three worst-performing stocks in the Dividend Equity account include Lincoln National (NYSE:LNC, 1.9%), down 27.9%. While both annuity sales were weak, we remain bullish on equities given the company’s ongoing risk mitigation initiatives, leverage to higher interest rates, and discount valuations.”
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disclosure. none. 10 Best Insurance Stocks Under $70 was first published on Insider Monkey.
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