5 Undervalued Insurance Stocks to Buy Now

In this article, we discuss the 5 undervalued insurance stocks to buy now. To read the detailed analysis of the insurance industry, go directly to the 10 Undervalued Insurance Stocks to Buy Now.

5. The Hartford Financial Services Group, Inc. (NYSE:HIG)

Number of Hedge Fund holders: 33

The Hartford Financial Services Group, Inc. (NYSE:HIG) is an American insurance and mutual funds firm headquartered in Connecticut. The company’s revenue sources include automobile insurance, property insurance, general liability insurance, workers’ compensation, mutual funds, and ETFs. At the time of market close on December 12, The Hartford Financial Services Group, Inc. (NYSE:HIG) was trading at a PE ratio of 10.32.

On October 27, The Hartford Financial Services Group, Inc. (NYSE:HIG) announced a 10% raise to its quarterly dividend. The new dividend of $0.425 is payable by January 4 to the shareholders of record on December 1. As of December 13, the company has a dividend yield of 2.26%.

Among the 920 hedge funds in the Insider Monkey database, 33 hedge funds held a position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in Q3. Diamond Hill Capital retained its position as the most prominent shareholder with over 3.4766 million shares, valued at $215.34 million.

Here is what ClearBridge Investments had to say about The Hartford Financial Services Group, Inc. in its Q3 2021 investor letter:

“Financials continued to gain from the economic recovery from COVID-19. Insurance companies, such as Hartford Financial Services Group, benefited from rate increases and margin improvements during the quarter, as well as historically high retention and premium growth driving an improvement in ROE.”