In this piece, we will take a look at the five undervalued insurance stocks to buy now. If you want to take a deeper look at the insurance industry, its global scale, and a primer on undervalued companies, then check out 11 Undervalued Insurance Stocks To Buy Now.
5. Unum Group (NYSE:UNM)
Share Price Upside: 28%
Unum Group (NYSE:UNM) is an American insurance firm with a presence in the U.S. and Europe. Its third quarter earnings report saw the U.S. and international segments perform well, as they delivered 27.4% and 47.8% annual operating income growth, respectively.
During 2023’s June quarter, 32 out of the 910 hedge funds tracked by Insider Monkey were Unum Group (NYSE:UNM)’s investors. Andreas Haloversen’s Viking Global owns the largest stake among these which is worth $251 million.
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Follow Unum Group (NYSE:UNM)
4. MetLife, Inc. (NYSE:MET)
Share Price Upside: 30%
MetLife, Inc. (NYSE:MET) is one of the biggest insurance companies in the world with tens of thousands of employees spread all over the world. The firm’s third quarter earnings were a mixed set of results, as while its net income dropped by more than 60% annually on the back of a business transaction, its adjusted earnings grew by 35%.
After digging through 910 hedge fund portfolios for this year’s second quarter, Insider Monkey discovered that 40 had bought the firm’s shares. MetLife, Inc. (NYSE:MET)’s biggest hedge fund shareholder is Richard S. Pzena’s Pzena Investment Management due to its $261 million investment.
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Follow Metlife Inc (NYSE:MET)
3. First American Financial Corporation (NYSE:FAF)
Share Price Upside: 32%
First American Financial Corporation (NYSE:FAF) is a sizeable American insurance and financial services provider headquartered in Santa Ana, California. These days, the firm is busy expanding its American portfolio, as a home warranty subsidiary expanded coverage in Illinois in November 2023.
As of Q2 2023 end, 21 out of the 910 hedge funds part of Insider Monkey’s database had bought and owned First American Financial Corporation (NYSE:FAF)’s shares. Out of these, Parag Vora’s HG Vora Capital Management is the largest investor since it owns $570 million worth of shares.
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Follow First American Financial Corp (NYSE:FAF)
2. Equitable Holdings, Inc. (NYSE:EQH)
Share Price Upside: 37%
Equitable Holdings, Inc. (NYSE:EQH) provides insurance, investment management, and other financial services and products. Its shares are rated Buy on average, and analysts have set an average share price target of $35.75.
For their shareholdings during this year’s second quarter, 28 out of the 910 hedge funds tracked by Insider Monkey were Equitable Holdings, Inc. (NYSE:EQH)’s shareholders.
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Follow Equitable Holdings Inc. (NYSE:EQH)
1. BRP Group, Inc. (NASDAQ:BRP)
Share Price Upside: 57%
BRP Group, Inc. (NASDAQ:BRP) is a small insurance company that provides services to businesses, individuals, and governments. The firm’s investors were in for some bad news in November 2023, as Wells Fargo downgraded the shares to Equal Weight from Overweight and cut the share price target to $24 from $28.
During Q2 2023, 11 out of the 910 hedge funds profiled by Insider Monkey had invested in the firm. BRP Group, Inc. (NASDAQ:BRP)’s biggest hedge fund shareholder is Constantine Mamakos’s Venator Management LLC due to its $30 million investment.
Follow Baldwin Insurance Group Inc.
Follow Baldwin Insurance Group Inc.
Disclosure: None. You can also take a look at 12 Best Vanguard ETFs for Portfolio Diversification and Top 20 Countries With the Most Handsome Men in Africa.
