Sectors & IndustriesFinancial ServicesInsurance - Diversified

Best Life Insurance Stocks to Buy Now (2023)

Top life insurance stocks in 2023 ranked by overall Zen Score. See the best life insurance stocks to buy now, according to analyst forecasts for the insurance - diversified industry.

According to Zen Score, the 3 best life insurance stocks to buy right now are:

Hartford Financial Services Group (NYSE:HIG) is the top life insurance stock with a Zen Score of 49, which is 13 points higher than the life insurance industry average of 36. It passed 17 out of 38 due diligence checks and has strong fundamentals. Hartford Financial Services Group has seen its stock lose -1.95% over the past year, underperforming other life insurance stocks by -9 percentage points.

Hartford Financial Services Group has an average 1 year price target of $87.70, an upside of 24.31% from Hartford Financial Services Group's current stock price of $70.55.

Hartford Financial Services Group stock has a consensus Buy recommendation according to Wall Street analysts. Of the 10 analysts covering Hartford Financial Services Group, 40% have issued a Strong Buy rating, 20% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Principal Financial Group (NASDAQ:PFG) is the second best life insurance stock with a Zen Score of 44, which is 8 points higher than the life insurance industry average of 36. It passed 16 out of 38 due diligence checks and has strong fundamentals. Principal Financial Group has seen its stock lose -3.77% over the past year, underperforming other life insurance stocks by -11 percentage points.

Principal Financial Group has an average 1 year price target of $79.70, an upside of 14.73% from Principal Financial Group's current stock price of $69.47.

Principal Financial Group stock has a consensus Sell recommendation according to Wall Street analysts. Of the 10 analysts covering Principal Financial Group, 0% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 20% have issued a Sell rating, and 30% have issued a Strong Sell.

Equitable Holdings (NYSE:EQH) is the third best life insurance stock with a Zen Score of 43, which is 7 points higher than the life insurance industry average of 36. It passed 15 out of 38 due diligence checks and has strong fundamentals. Equitable Holdings has seen its stock lose -14.2% over the past year, underperforming other life insurance stocks by -21 percentage points.

Equitable Holdings has an average 1 year price target of $33.88, an upside of 31.55% from Equitable Holdings's current stock price of $25.75.

Equitable Holdings stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Equitable Holdings, 62.5% have issued a Strong Buy rating, 12.5% have issued a Buy, 25% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 7 life insurance stocks that have issued dividends in the past year, the 3 life insurance stocks with the highest dividend yields are:

Old Republic International (NYSE:ORI) has an annual dividend yield of 7.9%, which is 4 percentage points higher than the life insurance industry average of 3.64%. Old Republic International's dividend payout is not stable, having dropped more than 10% five times in the last 10 years. Old Republic International's dividend has shown consistent growth over the last 10 years.

Old Republic International's dividend payout ratio of 99.2% indicates that its high dividend yield might not be sustainable for the long-term.

Aegon Nv (NYSE:AEG) has an annual dividend yield of 5.21%, which is 2 percentage points higher than the life insurance industry average of 3.64%. Aegon Nv's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Aegon Nv's dividend has not shown consistent growth over the last 10 years.

Aegon Nv's dividend payout ratio of -27.8% indicates that its high dividend yield might not be sustainable for the long-term.

Sun Life Financial (NYSE:SLF) has an annual dividend yield of 4.28%, which is 1 percentage points higher than the life insurance industry average of 3.64%. Sun Life Financial's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Sun Life Financial's dividend has shown consistent growth over the last 10 years.

Sun Life Financial's dividend payout ratio of 56.7% indicates that its dividend yield is sustainable for the long-term.

Life insurance stocks were up 2.92% in the last day, and up 2.81% over the last week. Enstar Group was the among the top gainers in the insurance - diversified industry, gaining 4.7% yesterday.

Shares of banking and financial services companies are trading higher amid positive macro sentiment after the debt ceiling bill passed in the US Senate and strong US jobs data.

Based on WallStreetZen's Valuation Score, the 3 most undervalued life insurance stocks right now are:

International General Insurance Holdings (NASDAQ:IGIC) is the most undervalued life insurance stock based on WallStreetZen's Valuation Score. International General Insurance Holdings has a valuation score of 100, which is 53 points higher than the life insurance industry average of 47. It passed 7 out of 7 valuation due diligence checks.

International General Insurance Holdings's stock has gained 21.85% in the past year. It has overperformed other stocks in the life insurance industry by 15 percentage points.

Old Republic International (NYSE:ORI) is the second most undervalued life insurance stock based on WallStreetZen's Valuation Score. Old Republic International has a valuation score of 71, which is 24 points higher than the life insurance industry average of 47. It passed 5 out of 7 valuation due diligence checks.

Old Republic International's stock has gained 4.62% in the past year. It has underperformed other stocks in the life insurance industry by -3 percentage points.

Equitable Holdings (NYSE:EQH) is the third most undervalued life insurance stock based on WallStreetZen's Valuation Score. Equitable Holdings has a valuation score of 57, which is 10 points higher than the life insurance industry average of 47. It passed 4 out of 7 valuation due diligence checks.

Equitable Holdings's stock has dropped -14.2% in the past year. It has underperformed other stocks in the life insurance industry by -21 percentage points.