5 Cheap Insurance Stocks to Buy Now

In this article, we discuss 5 cheap insurance stocks to buy now. If you want to read about some more insurance stocks, go directly to 10 Cheap Insurance Stocks to Buy Now.

5. Manulife Financial Corporation (NYSE:MFC)

Number of Hedge Fund Holders: 15 

Share Price as of October 20: $21.93   

Manulife Financial Corporation (NYSE:MFC) provides financial products and services internationally. It is one of the best insurance stocks to invest in. On October 17, the company announced that Manulife Investment Management, the global wealth and asset management division of the firm, had acquired two agricultural properties in California totaling 1.4K acres of land. The properties consist of a 500-acre almond and citrus orchard as well as a 900-acre pistachio orchard.

On October 12, Barclays analyst John Aiken maintained an Overweight rating on Manulife Financial (NYSE:MFC) stock and lowered the price to C$29 from C$30. 

At the end of the second quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $155 million in Manulife Financial Corporation (NYSE:MFC), compared to 19 in the preceding quarter worth $517.5 million. 

In its Q2 2022 investor letter, Harding Loenver, an asset management firm, highlighted a few stocks and Manulife Financial Corporation (NYSE:MFC) was one of them. Here is what the fund said:

“Manulife Financial Corporation (NYSE:MFC), the Canadian life insurer operating primarily in North America and Asia, is a new holding. Manulife offers a full suite of life insurance products as well as retirement and wealth management services. While the wealth management and retirement products appeal to the aging populations of the Western world, long-term life insurance products address the needs of the growing number of middle-class families in places like China and southeast Asia. COVID-19-induced lockdowns in China brought the shares down to a significant discount to our estimate of long-term value. The holding now serves as a nice diversifier to our Asia-centered insurers AIA and Ping An.”