5 Best Low Beta Stocks To Buy

In this piece, we will take a look at the five best low beta stocks to buy. To learn more about the beta and the stock market, take a look at the 12 Best Low Beta Stocks To Buy.

5. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Investors in Q2 2023: 57

Amgen Inc. (NASDAQ:AMGN) is a large healthcare company with more than 25,000 employees. The firm scored a win in November 2023 when the FDA approved its immune system treatment after Amgen Inc. (NASDAQ:AMGN) settled a lawsuit with JNJ.

For their Q2 2023 investments, 57 hedge funds among the 910 polled by Insider Monkey had held a stake in Amgen Inc. (NASDAQ:AMGN). John Overdeck and David Siegel’s Two Sigma Advisors is the firm’s biggest hedge fund shareholder since it owns 1.6 million shares that are worth $355 million.

4. The Progressive Corporation (NYSE:PGR)

Number of Hedge Fund Investors in Q2 2023: 69

The Progressive Corporation (NYSE:PGR) is an American insurance company that provides property, liability, auto, and other coverage products. The firm’s third quarter results saw its CEO share that troubles in developing high reserves in a tricky era for insurers are now a thing of the past, and investors can look to an easier future.

During 2023’s June quarter, 69 out of the 910 hedge funds part of Insider Monkey’s database had invested in the insurance provider. The Progressive Corporation (NYSE:PGR)’s largest investor among these is William B. Gray’s Orbis Investment Management through its $318 million stake.

3. The Cigna Group (NYSE:CI)

Number of Hedge Fund Investors in Q2 2023: 74

The Cigna Group (NYSE:CI) is another insurance company, and one that heavily focuses on the healthcare sector. The firm had a strong third quarter, and it was out with some good news for investors as The Cigna Group (NYSE:CI) raised its full year revenue guidance to $192 billion in November 2023.

74 out of the 910 hedge funds tracked by Insider Monkey for their shareholdings during this year’s second quarter had bought The Cigna Group (NYSE:CI)’s shares. Larry Robbins’s Glenview Capital is the biggest investor out of these courtesy of its $579 million investment.

2. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Investors in Q2 2023: 86

T-Mobile US, Inc. (NASDAQ:TMUS) is the final telecommunications carrier on our list. Analysts believe that the firm has one of the strongest 5G networks among American carriers, and it expanded its 5G network in September by buying billions of dollars of network airwaves from Comcast.

Insider Monkey scoured through 910 hedge fund holdings for 2023’s second quarter and discovered 86 investors in the company. T-Mobile US, Inc. (NASDAQ:TMUS)’s largest hedge fund shareholder is Ken Griffin’s Citadel Investment Group as it owns $847 million worth of shares.

1. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Investors in Q2 2023: 87

Eli Lilly and Company (NYSE:LLY) is one of the largest pharmaceutical companies in the world. Despite its size, the shares are rated Strong Buy on average, and analysts have set a sizeable $36 share price upside through an average share price target of $603.57.

During Q2 2023, 87 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Eli Lilly and Company (NYSE:LLY). Ken Fisher’s Fisher Asset Management is the biggest investor among these as it owns 4.2 million shares that are worth $1.9 billion.

Disclosure: None. You can also take a look at 25 Funny Prank Call Ideas for your Boyfriend and 16 Biggest Lab Grown Meat Companies in 2023.

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