With a number of insurance stocks currently holding spots on the Zacks Rank #1 (Strong Buy) list, the Zacks Insurance-Multi Line Industry stands out in particular and is in the top 16% of over 250 Zacks industries.
Offering a variety of insurance products and services to their clients, earnings estimate revisions are nicely up across this industry and here are a few of the top stocks to consider.
Assured Guaranty AGO
Protecting holders of debt instruments and other monetary obligations from defaults in scheduled payments, Assured Guaranty markets directly to issuers and underwriters of municipal finance, structured finance securities, and mortgage markets.
Assured Guaranty's stock is up +13% YTD with the company coming off a record year that saw annual earnings at $10.78 per share in 2023. Attributed to its diversified production strategy, Assured Guaranty saw its highest annual Gross Written Premiums (GWPs) and PVPs (Present Value of New Business Production) in over a decade. Notably, Assured Guaranty impressively exceeded its fourth quarter earnings expectations by an eye-popping 469% in late February with Q4 EPS at $5.75 compared to the Zacks Consensus of $1.01 a share.
Following the very impressive earnings beat, EPS estimates for fiscal 2024 and FY25 have soared over the last 60 days with Assured Guaranty’s stock now up +69% in the last year.
Zurich Insurance Group ZURVY
Zurich Insurance Group’s multi-line offerings extend to a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies along with multinational corporations.
While Zurich Insurance Group’s stock is only up +1% YTD, earnings estimate revisions have nicely increased over the last two months suggesting more upside. Furthermore, ZURVY has risen a respectable +9% over the last year with appealing EPS growth on the horizon. To that point, annual earnings are forecasted to climb 38% in FY24 to $4.11 per share versus $2.97 a share last year. Plus, FY25 EPS is projected to rise another 8%.
It’s also noteworthy that Zurich Insurance Group’s stock has a 4.24% annual dividend that impressively tops the industry average of 2.49% and the S&P 500’s average of 1.29%.
Other Stocks to Watch
Two other stocks boasting a Zacks Rank #1 (Strong Buy) and enjoying positive earnings estimate revisions among the Insurance-Multi Line Industry are Enact Holdings ACT and Fidelis Insurance Holdings Limited FIHL.
Operating through its wholly-owned subsidiary Genworth Mortgage, Enact Holdings provides U.S. private mortgage insurance with Fidelis Insurance Holdings Limited providing insurance and reinsurance services primarily in Bermuda, Ireland, and the United Kingdom.
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With a number of insurance stocks currently holding spots on the Zacks Rank #1 (Strong Buy) list, the Zacks Insurance-Multi Line Industry stands out in particular and is in the top 16% of over 250 Zacks industries.
Offering a variety of insurance products and services to their clients, earnings estimate revisions are nicely up across this industry and here are a few of the top stocks to consider.
Assured Guaranty AGO
Protecting holders of debt instruments and other monetary obligations from defaults in scheduled payments, Assured Guaranty markets directly to issuers and underwriters of municipal finance, structured finance securities, and mortgage markets.
Assured Guaranty's stock is up +13% YTD with the company coming off a record year that saw annual earnings at $10.78 per share in 2023. Attributed to its diversified production strategy, Assured Guaranty saw its highest annual Gross Written Premiums (GWPs) and PVPs (Present Value of New Business Production) in over a decade. Notably, Assured Guaranty impressively exceeded its fourth quarter earnings expectations by an eye-popping 469% in late February with Q4 EPS at $5.75 compared to the Zacks Consensus of $1.01 a share.
Following the very impressive earnings beat, EPS estimates for fiscal 2024 and FY25 have soared over the last 60 days with Assured Guaranty’s stock now up +69% in the last year.
Zurich Insurance Group ZURVY
Zurich Insurance Group’s multi-line offerings extend to a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies along with multinational corporations.
While Zurich Insurance Group’s stock is only up +1% YTD, earnings estimate revisions have nicely increased over the last two months suggesting more upside. Furthermore, ZURVY has risen a respectable +9% over the last year with appealing EPS growth on the horizon. To that point, annual earnings are forecasted to climb 38% in FY24 to $4.11 per share versus $2.97 a share last year. Plus, FY25 EPS is projected to rise another 8%.
It’s also noteworthy that Zurich Insurance Group’s stock has a 4.24% annual dividend that impressively tops the industry average of 2.49% and the S&P 500’s average of 1.29%.
Other Stocks to Watch
Two other stocks boasting a Zacks Rank #1 (Strong Buy) and enjoying positive earnings estimate revisions among the Insurance-Multi Line Industry are Enact Holdings ACT and Fidelis Insurance Holdings Limited FIHL.
Operating through its wholly-owned subsidiary Genworth Mortgage, Enact Holdings provides U.S. private mortgage insurance with Fidelis Insurance Holdings Limited providing insurance and reinsurance services primarily in Bermuda, Ireland, and the United Kingdom.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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