5 Worst Performing Blue Chip Stocks in 2023

In this piece, we will take a look at the five worst performing blue chip stocks in 2023. If you want to learn more about blue chip stock performance, then take a look at 15 Worst Performing Blue Chip Stocks in 2023.

5. The Travelers Companies, Inc. (NYSE:TRV)

Year to Date Share Price Returns: -10.83%

The Travelers Companies, Inc. (NYSE:TRV) is an insurance firm that serves the needs of both individuals and organizations. Recent analyst sentiment about the stock is tilting towards Hold, but the shares are still rated Buy on average.

As of Q1 2023, 45 of the 943 hedge funds part of Insider Monkey’s database had invested in The Travelers Companies, Inc. (NYSE:TRV). Cliff Asness’ AQR Capital Management is the largest shareholder among these, through a $129 million stake.

4. Honeywell International Inc. (NASDAQ:HON)

Year to Date Share Price Returns: -11.03%

Honeywell International Inc. (NASDAQ:HON) is an industrial company that sells aerospace, construction, and other products. A broader slowdown in the industrial sector has also affected its stock price, but on a positive note, the firm beat Q2 2023 analyst EPS estimates.

After digging through 943 hedge funds for their first quarter of 2023 investments, Insider Monkey discovered that 58 had bought the firm’s shares. John Overdeck and David Siegel’s Two Sigma Advisors is Honeywell International Inc. (NASDAQ:HON)’s biggest investor since it owns 1.9 million shares that are worth $379 million.

3. 3M Company (NYSE:MMM)

Year to Date Share Price Returns: -14.63%

3M Company (NYSE:MMM) is another industrial equipment firm that provides products to transport, pharmaceutical, and other industries. Like its peers, the shares have also taken a beating this year and the stock is rated Hold on average.

During March 2023, 51 of the 943 hedge funds profiled by Insider Monkey had bought a stake in 3M Company (NYSE:MMM). Out of these, the firm’s largest shareholder is Ken Fisher’s Fisher Asset Management with a $695 million investment.

2. Verizon Communications Inc. (NYSE:VZ)

Year to Date Share Price Returns: -16.85%

Verizon Communications Inc. (NYSE:VZ) is a telecommunications carrier with operations all over the world. It beat Q2 2023 analyst EPS estimates and the shares also have a sizeable 8% dividend yield.

Insider Monkey scoured through 943 hedge funds for their first quarter of 2023 investments and found out that 59 had invested in the company. Verizon Communications Inc. (NYSE:VZ)’s largest hedge fund investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital with a stake worth $358 million.

1. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Year to Date Share Price Returns: -21.08%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is an American pharmaceutical retailer and one of the largest of its kind. The share price drop this year provides the shares with a sizeable upside based on the average analyst share price target of $33.53.

As of Q1 2023 end, 39 of the 943 hedge funds part of Insider Monkey’s database had bought Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s shares. Out of these, the biggest stakeholder is Stephen Dubois’ Camber Capital Management with an investment of $224 million.

Disclosure: None. You can also take a look at 10 Dow Stocks Billionaires Are Loading Up On and 12 Best Quality Penny Stocks to Buy.

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