In this article, we discuss the 5 hot insurance stocks to buy now. If you want to read about some more hot insurance stocks to buy now, go directly to 10 Hot Insurance Stocks To Buy Now.
5. Heritage Insurance Holdings, Inc. (NYSE:HRTG)
Number of Hedge Fund Holders: 9
YTD Perf: 40.00%
Heritage Insurance Holdings, Inc. (NYSE:HRTG) provides personal and commercial residential insurance products. On January 17, Heritage Insurance (NYSE:HRTG) announced a new stock buyback plan for $10 million, which took effect after the previous $25 million repurchase program ended on December 31st. This new program will be in effect until December 31, 2023.
At the end of the third quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $2.3 million in Heritage Insurance Holdings, Inc. (NYSE:HRTG), compared to 11 in the preceding quarter worth $4.1 million.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in Heritage Insurance Holdings, Inc. (NYSE:HRTG) with 238,899 shares worth more than $540,000.
4. GoHealth, Inc. (NASDAQ:GOCO)
Number of Hedge Fund Holders: 8
YTD Perf: 48.13%
GoHealth, Inc. (NASDAQ:GOCO) operates as a health insurance marketplace and Medicare-focused digital health company in the United States. On November 10, GoHealth posted earnings for the third quarter of 2022, reporting losses per share of $0.23, beating market estimates by $0.14. The revenue over the period was $133.05 million, down 37.2% compared to the revenue over the same period last year and missing market estimates by $15.33 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Centerbridge Partners is a leading shareholder in GoHealth, Inc. (NASDAQ:GOCO) with 40.7 million shares worth more than $14.4 million.
3. eHealth, Inc. (NASDAQ:EHTH)
Number of Hedge Fund Holders: 20
YTD Perf: 71.49%
eHealth, Inc. (NASDAQ:EHTH) operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrolment solutions in the United States. On November 7, eHealth released its third-quarter financial results, showcasing a non-GAAP loss per share of $1.17, which surpasses the estimated earnings by $0.28. The revenue of the company amounted to $53.4 million, reflecting a year-over-year decrease of 16.4%. However, this figure still exceeded expectations by $4.93 million.
On December 1, 2022, Craig-Hallum analyst George Sutton upgraded eHealth, Inc. (NASDAQ:EHTH) stock to Buy from Hold with a $6 price target.
At the end of the third quarter of 2022, 20 hedge funds in the database of Insider Monkey held stakes worth $32.9 million in eHealth, Inc. (NASDAQ:EHTH), compared to 17 in the preceding quarter worth $64.8 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Starboard Value LP is a leading shareholder in Cigna Corporation (NYSE: CI) with 2.2 million shares worth more than $8.6 million.
2. United Insurance Holdings Corp. (NASDAQ:UIHC)
Number of Hedge Fund Holders: 5
YTD Perf: 75.47%
United Insurance Holdings Corp. (NASDAQ:UIHC) operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. On November 9, United Insurance posted earnings results for the third quarter of the year, reporting losses per share were negative $1.65. The company also reported a revenue of $123.79 million, which represents a 23.9% decrease compared to the same quarter in the previous year.
At the end of the third quarter of 2022, 5 hedge funds in the database of Insider Monkey held stakes worth $428,000 in United Insurance Holdings Corp. (NASDAQ:UIHC), compared to 9 in the preceding quarter worth $1.5 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in United Insurance Holdings Corp. (NASDAQ:UIHC) with 221,022 shares worth more than $142,000.
1. Oxbridge Re Holdings Limited (NASDAQ:OXBR)
Number of Hedge Fund Holders: 2
YTD Perf: 87.50%
Oxbridge Re Holdings Limited (NASDAQ:OXBR) provides specialty property and casualty reinsurance solutions. On November 14, Oxbridge Re Holdings posted earnings for the third quarter of 2022, reporting losses per share of $0.37. The revenue over the period was $0.7 million, reflecting a year-over-year decrease of 110.0%.
At the end of the third quarter of 2022, 2 hedge funds in the database of Insider Monkey held stakes worth $106,000 in Oxbridge Re Holdings Limited (NASDAQ:OXBR), compared to 3 in the previous quarter worth $223,000.
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