Sectors & IndustriesFinancial ServicesInsurance - Life

Best Property & Casualty Insurance Stocks to Buy Now (2024)

Top property & casualty insurance stocks in 2024 ranked by overall Zen Score. See the best property & casualty insurance stocks to buy now, according to analyst forecasts for the insurance - life industry.

According to Zen Score, the 3 best property & casualty insurance stocks to buy right now are:

Globe Life (NYSE:GL) is the top property & casualty insurance stock with a Zen Score of 52, which is 21 points higher than the property & casualty insurance industry average of 31. It passed 19 out of 38 due diligence checks and has strong fundamentals. Globe Life has seen its stock lose -48.77% over the past year, underperforming other property & casualty insurance stocks by -83 percentage points.

Globe Life has an average 1 year price target of $128.56, an upside of 130.35% from Globe Life's current stock price of $55.81.

Globe Life stock has a consensus Buy recommendation according to Wall Street analysts. Of the 9 analysts covering Globe Life, 55.56% have issued a Strong Buy rating, 0% have issued a Buy, 44.44% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Manulife Financial (NYSE:MFC) is the second best property & casualty insurance stock with a Zen Score of 51, which is 20 points higher than the property & casualty insurance industry average of 31. It passed 18 out of 38 due diligence checks and has strong fundamentals. Manulife Financial has seen its stock return 19.13% over the past year, underperforming other property & casualty insurance stocks by -15 percentage points.

Manulife Financial has an average 1 year price target of $35.00, an upside of 52.31% from Manulife Financial's current stock price of $22.98.

Manulife Financial stock has a consensus Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Manulife Financial, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Primerica (NYSE:PRI) is the third best property & casualty insurance stock with a Zen Score of 46, which is 15 points higher than the property & casualty insurance industry average of 31. It passed 17 out of 38 due diligence checks and has strong fundamentals. Primerica has seen its stock return 19.06% over the past year, underperforming other property & casualty insurance stocks by -15 percentage points.

Primerica has an average 1 year price target of $261.67, an upside of 22.83% from Primerica's current stock price of $213.04.

Primerica stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Primerica, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 13 property & casualty insurance stocks that have issued dividends in the past year, the 3 property & casualty insurance stocks with the highest dividend yields are:

Lincoln National (NYSE:LNC) has an annual dividend yield of 6.46%, which is 4 percentage points higher than the property & casualty insurance industry average of 2.55%. Lincoln National's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Lincoln National's dividend has shown consistent growth over the last 10 years.

Lincoln National's dividend payout ratio of -36.6% indicates that its high dividend yield might not be sustainable for the long-term.

Manulife Financial (NYSE:MFC) has an annual dividend yield of 5.25%, which is 3 percentage points higher than the property & casualty insurance industry average of 2.55%. Manulife Financial's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Manulife Financial's dividend has shown consistent growth over the last 10 years.

Manulife Financial's dividend payout ratio of 55.3% indicates that its high dividend yield is sustainable for the long-term.

Prudential Financial (NYSE:PRU) has an annual dividend yield of 4.66%, which is 2 percentage points higher than the property & casualty insurance industry average of 2.55%. Prudential Financial's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Prudential Financial's dividend has shown consistent growth over the last 10 years.

Prudential Financial's dividend payout ratio of 74.7% indicates that its dividend yield is sustainable for the long-term.

Property & casualty insurance stocks were down -1.32% in the last day, and down -8.62% over the last week. Globe Life was the among the top losers in the insurance - life industry, dropping -5.55% yesterday.

Shares of companies within the broader financial sector are trading lower amid overall market weakness, offsetting strong bank earnings.

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

Manulife Financial (NYSE:MFC) is the most undervalued property & casualty insurance stock based on WallStreetZen's Valuation Score. Manulife Financial has a valuation score of 71, which is 37 points higher than the property & casualty insurance industry average of 34. It passed 5 out of 7 valuation due diligence checks.

Manulife Financial's stock has gained 19.13% in the past year. It has underperformed other stocks in the property & casualty insurance industry by -15 percentage points.

Jackson Financial (NYSE:JXN) is the second most undervalued property & casualty insurance stock based on WallStreetZen's Valuation Score. Jackson Financial has a valuation score of 71, which is 37 points higher than the property & casualty insurance industry average of 34. It passed 5 out of 7 valuation due diligence checks.

Jackson Financial's stock has gained 72.75% in the past year. It has overperformed other stocks in the property & casualty insurance industry by 38 percentage points.

National Western Life Group (NASDAQ:NWLI) is the third most undervalued property & casualty insurance stock based on WallStreetZen's Valuation Score. National Western Life Group has a valuation score of 57, which is 23 points higher than the property & casualty insurance industry average of 34. It passed 4 out of 7 valuation due diligence checks.

National Western Life Group's stock has gained 105.89% in the past year. It has overperformed other stocks in the property & casualty insurance industry by 72 percentage points.