In this article, we will have a look at 10 Best Property & Casualty Insurance Stocks to Buy.
Property and casualty (P&C) insurers face the hardest market mainly because of the increasing expenses, large claims payouts, and price-shopping policyholders. To revive the growth, they are required to shift to a more proactive strategy and exploit new developments and opportunities available in auto, homeowners’, and renters’ insurance.
With several insurers posting sound profitability in 2023, and in response to some notable improvements in the reinsurance market, the insurance market in 2Q 2024 was growth-oriented yet disciplined. Insurer strategies were focused on underwriting and pricing for profitability and program stability. As we approach the mid-point of the decade, the property & casualty insurance industry continues to see significant transformation led by technological advancements, fluctuating consumer preferences, and evolving regulatory landscapes.
Property & Casualty Insurance is expected to leverage digital technologies to enhance customer experience. This will be in the form of interactive digital ecosystems, building unique customer intelligence, and incorporating products and services to meet the demands of a digital world. Insurers plan to adopt technologies like artificial intelligence (AI), machine learning, and the Internet of Things (IoT) to enhance customer service and streamline processes.
Climate Change and Property and Casualty Insurers
The increase in weather-related losses and inflation-impacted costs to revive the damaged assets continue to weigh on homeowner insurers’ profitability. As we all know, this is a segment that was already under stress due to years of persistent high loss ratios. Deloitte reported that, in 2022, ~75% of the property and casualty sector’s insured losses, or US$74 billion, were associated with the US homeowner segment.
With the severity and frequency of losses due to natural catastrophes continuing to increase at an estimated average annual growth rate of 5% – 7%, experts believe that US homeowners might see up to US$118 billion in losses by 2030 end as a result of weather events. In this situation, what should be an approach for Property and Casualty Insurers?
Insurers, in alliance with government agencies and policyholders, should invest ~US$3.35 billion in residential dwelling resiliency measures. It is being said that two-thirds of the US homes which are not built as per the codes can be made in such a way that they can steer through weather-related claims losses.
Deloitte also stated that such actions might help the property and casualty insurers save ~US$37 billion by 2030 end.
The rise in insurance rates is the most preferred way for property insurers to offset higher costs of catastrophic events. Property and Casualty Insurers shore up their premiums on homeowners so that they can make up for the rising losses. This can mean hefty profits for the leading property and casualty insurers.
S&P Global stated that, throughout the US, most of the property and casualty insurers have increased their rates for homeowners’ coverage by approximately double digits over the last year. As per NOAA, the US saw ~28 weather and climate disasters last year, outpacing the previous high of ~22 disasters in 2020. The atmospheric and oceanic conditions can result in an extremely active hurricane season. NOAA also stated that the hurricane season kicked off to a violent start with Hurricane Beryl. This is the earliest category-5 Atlantic hurricane on record.
Higher Costs and Weather-related Catastrophe Losses
More and more natural disasters continue to damage assets every year. The number of US catastrophic events went up by ~32% between 2019 and 2022. As a result of this, property and casualty insurers’ losses escalated from US$25 billion in 2019 to US$99 billion in 2022. This made a whopping ~80% of the global natural catastrophe losses. A recent report from Swiss RE has suggested that total insured losses worldwide due to weather-related natural catastrophes exceeded $122 billion last year.
Adding to this, Capgemini revealed an eye-shattering ~250% increase in economic losses in the previous 3 decades because of climate and extreme weather events.
Over 2020 and 2023, replacement costs for property and casualty-related losses increased by ~45%. This was seen when the overall inflation growth sat at ~15%. While some believe that climate change might be leading to disasters, housing demands are also driving the risk.
While the climate-related risk continues to persist, Americans still prefer to migrate to disaster-prone areas. Not only this, but they are also building higher-value homes in such regions. For example, over 1990 and 2020, ~44 million homes were built in regions where wildfires are quite common, like California and Colorado. As a result of such factors, there has been a deterioration in the US property and casualty industry combined ratio, from ~98.8% in 2020 to ~102.7% in 2022.
Amidst This Chaos, What Should Property and Casualty Insurers Do?
Property and casualty insurers should look for some alternative strategies such as loss prevention and mitigation if they want to maintain their viability in regions that are prone to extreme weather conditions.
The new homes, which are built with advanced construction materials, such as engineered timber, impact-resistant glass windows, and enhanced roof coverings, can sustain damage from severe weather conditions as compared to the existing homes. For example, the average annual expenses due to wind damage came out to be ~84% lower for the house which was built in 2022 to code compared to a 1990s-era home. As per Federal Emergency Management Agency, the average annual damages from climate change might fall by ~48% for homes meeting the specified criteria/codes.
As of now, ~35% of residences nationally have been constructed as per the desired standards and codes.
This means that property and casualty insurers can help the remaining ~65% of the homeowners improve their dwellings to meet the desired standards.
For example, the insurers can provide some policy premium discounts to homeowners. This will incentivize them to upgrade to hazard-resistant standards and codes. Property and Casualty Insurers might also make homeowners aware regarding the prevailing state-sponsored incentives.
An insurance agent at their desk consulting a customer about property & casualty insurance.
Our methodology
To compile the list of 10 Best Property & Casualty Insurance Stocks to Buy, we used the Finviz stock screener and extracted the stocks related to the property & casualty insurance industry. Once we had our filtered list, we ranked the stocks based on analysts’ average price target upside, as of August 14.
At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
10 Best Property & Casualty Insurance Stocks to Buy
10) Cincinnati Financial Corporation (NASDAQ:CINF)
Average Upside Potential: 8.20%
Cincinnati Financial Corporation (NASDAQ:CINF) is a property and casualty insurance company that generates income via written premiums. A selected group of independent agencies actively markets the company’s business, home, and automotive insurance.
The company released its 2Q 2024 results, and things are looking optimistic for this property and casualty insurance company. Its revenues came in at US$2.5 billion, beating the analysts’ expectations by 3.9%. It also reported a statutory profit of US$1.98 per share, beating the analysts’ expectations by ~107%.
Cincinnati Financial Corporation (NASDAQ:CINF)’s strength is in its consistent premium growth, which surpasses the industry average. Its earned premiums have witnessed a notable increase, up from $1,943 million in 2Q 2023 to $2,156 million in 2Q 2024. This showcases the company’s effectiveness in managing distribution channels and strong relationships with independent agencies.
Apart from a healthy property casualty combined ratio of 98.5% in 2Q 2024, it enjoys stable and growing investment income. The company saw its investment income rise from $220 million in 2Q 2023 to $242 million in 2Q 2024. Its financial prudence and asset management strategies should continue to provide overall financial stability.
Analysts at Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial Corporation (NASDAQ:CINF) from $146.00 to $150.00, giving an “Outperform” rating on 1st August. On average, 4 research analysts gave a “Hold” rating, and 5 analysts assigned a “Buy” rating on the shares of Cincinnati Financial Corporation (NASDAQ:CINF).
As of the close of Q1 2024, 24 hedge funds in Insider Monkey’s database held stakes in Cincinnati Financial Corporation (NASDAQ:CINF). The total value of these stakes is $625.8 million.
9) The Hartford Financial Services Group, Inc. (NYSE:HIG)
Average Upside Potential: 8.24%
The Hartford Financial Services Group, Inc. (NYSE:HIG) provides a diverse range of property and casualty insurance, group benefits, and mutual fund services to the customer base of individuals and corporations.
Recently, the company saw the benefits of a harder insurance market together with improved pricing power. In 2Q 2024, the company saw its net income rise to $733 million, reflecting 35% growth from $542 million over the same period in 2023.
Property & Casualty written premiums went up by 12% in 2Q 2024, thanks to Commercial Lines and Personal Lines premium growth of 11% and 14%, respectively. Its commercial lines second-quarter combined ratio was 89.8 and the underlying combined ratio was 87.4.
The Hartford Financial Services Group, Inc. (NYSE:HIG) relies on industry-leading products and strong pricing to maintain earnings and ROE growth. The company is optimistic about personal lines. It continues to make strong progress towards restoring target profitability in auto. The company has paid dividends over the previous 10 years. This means that it believes in improving shareholder value.
As a result of strong capital generation, the company announced a new share repurchase authorization of $3.3 billion. The number of hedge funds tracked by Insider Monkey owning stakes in The Hartford Financial Services Group, Inc. (NYSE:HIG) stood at 26 in Q1 2024.
Piper Sandler increased its price target on the shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) from $112.00 to $125.00, giving an “Overweight” on 29th July.
ClearBridge Investments, an investment management firm, released its first-quarter 2024 investor letter. Here is what the fund said about The Hartford Financial Services Group, Inc. (NYSE:HIG):
“Financials were the leading contributor to relative performance during the quarter, despite our being significantly underweight relative to the benchmark. Much of the gains were driven by our insurance holdings The Hartford Financial Services Group, Inc. (NYSE:HIG) and Arch Capital, which have benefited from a harder insurance market and increased pricing power. Hartford has improved its return on equity from low-double digits into the mid-teens through a strong industry pricing environment, rolling over investments at higher returns, and internal improvement efforts. The increase has come with a commensurate increase in earnings and its multiple, reflecting investor appreciation of businesses we have thought undervalued for quite some time. We believe the trajectory of these insurance companies is a strong one and that continued pricing power should help propel their stock prices higher in the face of interest rate cuts and market volatility.”
8) The Progressive Corporation (NYSE:PGR)
Average Upside Potential: 8.85%
The Progressive Corporation (NYSE:PGR) underwrites private and commercial auto insurance and specialty lines. It markets the policies via independent insurance agencies in the US and Canada and directly through internet and telephone.
The company released its 2Q 2024 financial results and exceeded the analysts’ expectations for adjusted earnings per share (EPS). However, the company slightly missed the revenue estimates. It saw EPS of $2.48, which was $0.45 higher as compared to the estimate of $2.03. The revenues came in at $17.21 billion, while the consensus estimate was $17.54 billion.
The Progressive Corporation (NYSE:PGR)’s stock increased by over ~18% in just 6 months, mainly due to increased premiums. These premiums were supported by its healthy product portfolio, strong market position, and strength in Vehicle and Property businesses. During 2Q 2024, higher wages, coupled with a strong labor market, prompted customers to resume spending on auto insurance, which is the company’s core business.
Its rate of growth should accelerate significantly. While there are expectations of ~19% annualized revenue growth to 2024 end, its historical growth was 12% p.a. over the previous 5 years. Over the past couple of years, property and casualty insurers have been impacted by higher inflation. As a result, replacements and repair costs went up. Therefore, claim costs increased, which impacted the underlying profitability.
Despite elevated inflation levels, the company’s strong underwriting seems to be working again. The company posted a combined ratio (CR) of 91.9 in 2Q 2024. The company also enjoys strong pricing power. This is evident as it saw policies in force (PIF) growth of 9% during 2Q 2024, despite higher premiums.
Analysts at JPMorgan Chase & Co. upped their price objective on shares of The Progressive Corporation (NYSE:PGR) from $210.00 to $239.00. They gave an “Overweight” rating on 11th July. At the end of Q1 2024, 85 hedge funds tracked by Insider Monkey held stakes in The Progressive Corporation (NYSE:PGR).
Parnassus Investments, an investment management company, released first quarter 2024 investor letter and mentioned The Progressive Corporation (NYSE:PGR). Here is what the fund said:
“The Progressive Corporation (NYSE:PGR) shares appreciated as investors reacted well to the insurer’s latest financials, including higher-than-expected-growth in net premiums. The company’s consistently profitable underwriting, scale advantages and strong execution are becoming more evident to investors as it continues to gain market shares.”
7) Selective Insurance Group, Inc. (NASDAQ:SIGI)
Average Upside Potential: 10.09%
Selective Insurance Group, Inc. (NASDAQ:SIGI) provides a broad range of commercial insurance products, alternative risk management products along with managed care and related services.
While the stock has been under pressure over the past few months, it seems that it is well-placed to take off. The company released its 2Q 2024 financial results, wherein, its net premiums written saw an increase of 13% against 2Q 2023. However, it posted a combined ratio of 116.1%.
The net unfavorable prior year casualty reserve development of $176 million increased its combined ratio by 16.3 points. The combined ratio increased by 8.4 points due to catastrophe losses of $91 million.
That being said, Selective Insurance Group, Inc. (NASDAQ:SIGI) has a very stable underwriting portfolio. To address the updated view of loss costs, the company has decided to go for additional price increases. Its renewal pure price increase throughout all the insurance segments was 9.1% in 2Q 2024. This included 7.9% for Standard Commercial Lines. The general liability renewal pure pricing increased to 7.6%. Selective Insurance Group, Inc. (NASDAQ:SIGI) expects that standard commercial lines renewal pure price will trend northwards in 2H 2024.
It plans to maintain disciplined focus and execution in risk selection, pricing, and claims management amidst a challenging and dynamic loss trend environment.
Analysts at BMO Capital Markets initiated coverage on Selective Insurance Group, Inc. (NASDAQ:SIGI). They increased their price target on the company’s shares from $92.00 to $95.00, giving a “Market perform” rating on 24th July.
Selective Insurance Group, Inc. (NASDAQ:SIGI) was in the portfolios of 15 hedge funds in the first quarter of 2024, according to Insider Monkey’s database.
6) Markel Group Inc. (NYSE:MKL)
Average Upside Potential: 11.12%
Markel Group Inc. (NYSE:MKL)’s primary business is property and casualty insurance. It focuses on specialty lines, ranging from areas like executive liability to commercial equine insurance.
The company has released its 2Q 2024 financial results, and posted net operating earnings per share of $25.95, crushing the analysts’ estimates by 25%. It saw improvement in earned premiums and higher net investment income, which supported its bottom line. Total operating revenues came in at $3.8 billion, slightly missing the analysts’ expectations by 0.6%. Markel Group Inc. (NYSE:MKL) saw YoY revenue growth of 4.7%.
For those who are unaware, the company is known as an early-stage Berkshire Hathaway. This is because Markel Group Inc. (NYSE:MKL)’s core business remains insurance, but it has a publicly-traded stock portfolio. It also has a venture investing division. Therefore, Markel Group Inc. (NYSE:MKL) is a unique company. It invests its excess capital in common stocks and earlier-stage businesses.
The recent acquisition of Valor Environmental by Markel Group Inc. (NYSE:MKL) implies the company’s strategic approach to growth and expansion. Not only it has enhanced its service offerings, but it has positioned the company to capitalize on the growing environmental services market.
Royal Bank of Canada assumed the coverage on the company’s shares and upped their price target from $1,475.00 to $1,625.00. They gave a “Sector perform” rating on 3rd May. According to Insider Monkey’s database of Q1 2024, 26 hedge funds held stakes in Markel Group Inc. (NYSE:MKL).
Giverny Capital Asset Management, LLC, an investment management company, recently published its 4Q 2023 investor letter. Here is what the fund said:
“In the fourth quarter, we sold Markel Group Inc. (NYSE:MKL), the Richmond-based insurer. For some years now, Markel has tried to mimic Berkshire Hathaway by using profit generated in its core insurance business to buy whole companies. While this has been a compelling model for Berkshire, Markel has not been able to convince high-quality companies to sell for attractive prices to the same degree as Berkshire.
Meanwhile, in its insurance operations, Markel has an elevated expense structure – it spends about 33 cents of every dollar collected in premiums on its own overhead. Its leanest competitor spends 21 cents of every premium dollar on overhead. Markel’s cost structure stems from an unwieldy technology stack that would be very expensive to upgrade. I have great respect for Markel, but the combination of middling investments and a challenging expense structure caused me to believe I could find better value elsewhere.
Selling SS&C and Markel, which were each about 4% of the portfolio, was not easy for me. Both businesses trade for reasonable prices and have good competitive positions. They have strong CEOs who have been in the job for many years. CEO Bill Stone founded SS&C and is a billionaire thanks to his own decisions. Tom Gayner at Markel is a well-regarded stock market investor and a much-admired leader.”
5) Palomar Holdings, Inc. (NASDAQ:PLMR)
Average Upside Potential: 13.80%
Palomar Holdings, Inc. (NASDAQ:PLMR) is a United States-based company, which is focused on providing specialty property insurance mainly earthquake, wind, and flood insurance products.
In 2Q 2024, the company saw operating income of $1.25 per share, beating the analysts’ estimates by over ~11%. The bottom line of the company went up by ~45.3% YoY. Palomar Holdings, Inc. (NASDAQ:PLMR)’s earnings were supported by improved premiums, higher adjusted underwriting income, and improved yields on invested assets.
Total revenues surpassed the analysts’ expectations by ~9.2% to reach $131 million, reflecting an improvement of 47.2% YoY. This was primarily because of higher premiums, commissions, and other income and net investment income.
For FY24, Palomar Holdings, Inc. (NASDAQ:PLMR) is increasing its guidance range and anticipates achieving adjusted net income of $124 million – $130 million. Wall Street analysts anticipate better-than-expected performance of its new crop insurance business and positive indicators about reinsurance costs. These factors have put the company ahead of its financial targets. The company plans to double its underwriting income over 3-5 years while generating an adjusted ROE of over 20%.
Truist Financial raised its price objective on shares of Palomar Holdings, Inc. (NASDAQ:PLMR) from $100.00 to $112.00, giving the company a “Buy” rating on 8th August. Diamond Hill Capital, an investment management company, released its first-quarter 2024 investor letter and mentioned Palomar Holdings, Inc. (NASDAQ:PLMR). Here is what the fund said:
“Among our bottom Q1 contributors were our short positions in Dick’s Sporting Goods, International Business Machines (IBM) and Palomar Holdings, Inc. (NASDAQ:PLMR). Residential and business property and casualty insurance company Palomar has benefited from solid fundamentals, even amid a difficult reinsurance environment in 2023. However, we believe shares remain overvalued and are maintaining our short position.”
4) RLI Corp. (NYSE:RLI)
Average Upside Potential: 14.44%
RLI Corp. (NYSE:RLI) underwrites property and casualty insurance through its subsidiaries. The company offers insurance coverage in the specialty admitted market where the products are designed for special risks.
RLI Corp. (NYSE:RLI) delivered healthy 2Q 2024 results, with 82 combined ratio, ~11% growth in gross premiums written, and ~18% rise in investment income. The company’s casualty and surety segments found expansion opportunities, while market conditions in the property segment enabled it to demonstrate underwriting discipline. The performance highlighted the value of its underwriting-focused business model and the strength of its diversified portfolio.
RLI Corp. (NYSE:RLI)’s strong local branch office network, range of product offerings, and focus on specialty insurance lines continue to support its profitability.
The company’s ability to maintain the combined ratio at favorable levels, despite the toughest operating environment, demonstrates superior underwriting discipline. The company has decided to drop underperforming products from the property business, which should also help it in this year’s earnings and revenue growth. Therefore, its compelling product portfolio, higher rates, improved retention, and higher receipts of premium bode well for future performance.
Keefe, Bruyette & Woods upped its target price on shares of RLI Corp. (NYSE:RLI) from $169.00 to $175.00, giving an “Outperform” rating on 29th July. Insider Monkey’s database of Q1 2024 indicated that 20 hedge funds held stakes in RLI Corp. (NYSE:RLI).
3) The Allstate Corporation (NYSE:ALL)
Average Upside Potential: 16.84%
The Allstate Corporation (NYSE:ALL) offers property-liability insurance solutions. It sells private passenger automobile and homeowners insurance with the help of independent and specialized brokers, and life insurance, annuity, and group pension products via agents.
The company’s strong execution capabilities supported 2Q 2024 financial results. Its revenues went up by 12% as compared to the prior year to $15.7 billion for the quarter mainly due to higher insurance premiums and increased investment income.
For fiscal 2024, ~9 analysts raised earnings estimates over the previous 60 days for shares of The Allstate Corporation (NYSE:ALL). The company has an average earnings surprise of ~more than 40%. The improvement in its Property-Liability underwriting results led to an increase in net income, which came in at $301 million in 2Q 2024 in comparison to a net loss of $1.4 billion in the prior-year quarter. The Allstate Corporation (NYSE:ALL) focuses on modernizing its pricing, and the efforts are paying off.
On the YTD basis, the company’s shares have risen by over ~25%. Across consumer insurers, auto results continue to improve, with rate hikes supporting them to turn around a business that was lagging. The Allstate Corporation (NYSE:ALL) saw healthy improvement during 2Q 2024 in home insurance. This was partly due to narrower catastrophe losses, as they declined by $573 million from a year ago to sit at $1.6 billion. All these reasons have led to the share price appreciation. The company mentioned that it sees an opportunity to grab a share in home insurance.
The Allstate Corporation (NYSE:ALL) was included in 59 hedge fund portfolios at the end of Q1 2024, up from 51 in the previous quarter, as per Insider Monkey’s database. The Allstate Corporation (NYSE:ALL) increased its price objective from $191.00 to $205.00, giving the company an “Outperform” rating on 4th August. Diamond Hill Capital, an investment management company, released 1Q 2024 investor letter. Here is what the fund said:
“Other top contributors included The Allstate Corporation (NYSE:ALL), Caterpillar and General Motors. Allstate, one of the US’s largest auto and homeowners’ insurance providers, is benefiting from improving profitability in its primary auto insurance line. Further, milder weather during the quarter translated into lower catastrophe losses.”
2) The Hanover Insurance Group, Inc. (NYSE:THG)
Average Upside Potential: 19.25%
The Hanover Insurance Group, Inc. (NYSE:THG) is a holding company whose primary business is providing property and casualty insurance products and services. It markets itself with the help of independent agents and brokers in the US while conducting business internationally via wholly-owned subsidiary, Chaucer Holdings Limited.
The company released its 2Q 2024 financial results, wherein, it reported net income of $40.5 million, or $1.12 per diluted share. This compares to a net loss of $69.2 million, or $1.94 per basic share, in the prior year quarter.
In 2Q 2024, it saw 9% operating ROE, and 12% on the YTD basis. These numbers demonstrate the progress it made on its margin improvement initiatives and the resiliency of business amidst weather volatility. The Hanover Insurance Group, Inc. (NYSE:THG)’s stock trades at ~12.67x its forward earnings, which is at a discount to the sectoral average of ~16.45x. Given its results, the current valuation levels seem justified.
The company saw improvement in underlying loss ratio in Personal Lines, strong profitability in Specialty, and healthy underlying margin gains in Core Commercial. Collectively, these drivers led the company in delivering an ex-CAT combined ratio of 88.5%. The strength of its market position and distinctive distribution strategy should continue to help The Hanover Insurance Group, Inc. (NYSE:THG).
Analysts at Oppenheimer initiated the coverage of the shares of The Hanover Insurance Group, Inc. (NYSE:THG). They upped their price objective from $150.00 to $165.00, giving an “Outperform” rating on 3rd May.
According to Insider Monkey’s database of Q1 2024, 16 hedge funds held stakes in The Hanover Insurance Group, Inc. (NYSE:THG). The consolidated value of these stakes is ~$126.4 million.
1) Mercury General Corporation (NYSE:MCY)
Average Upside Potential: 31.58%
Mercury General Corporation (NYSE:MCY) is the specialty writer of all risk classifications of automobile insurance. It is an agency writer of private passenger automobile insurance.
Mercury General Corporation (NYSE:MCY) released its 2Q 2024 financial results, with revenues coming at US$1.30 billion, exhibiting a YoY increase of ~21%. However, the company’s revenue figure fell short of Wall Street estimates by ~4.7%. The company’s net income was US$62.6 million, crushing analysts’ estimates by 41%.
Analysts believe that Mercury General Corporation (NYSE:MCY)’s revenue will grow at ~11% p.a. on average over the upcoming 2 years. This compares to the growth of ~5.1% expected for the Insurance industry in the US. The company adopted remediation plans and underwriting actions, which have supported it in reducing losses throughout its various insurance portfolios. In 2Q 2024, the company has seen an improvement in its combined ratio from 110.1% in 2Q 2023 to 98.9% in 2Q 2024.
Over the past month, the company’s stock price increased by over ~9%. Blair William & Co. IL purchased a new stake in shares of Mercury General Corporation (NYSE:MCY) in the first quarter valued at ~$200,000.
At the end of Q1 2024, 20 hedge funds tracked by Insider Monkey were long Mercury General Corporation (NYSE:MCY), up from 9 in the preceding quarter.
While we acknowledge the potential of Mercury General Corporation (NYSE:MCY) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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