Top 6 Insurance Stocks for April 2024

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The insurance industry is undergoing a significant transformation, with health insurance, auto insurance, and life insurance companies adapting to changing risks and customer needs. As the market evolves, investors are looking for the best insurance stocks to include in their investment portfolios, considering factors such as market capitalization, past performance, and potential for consistent growth.

In this article, we’ll explore three top insurance stocks to consider for April 2024, analyzing their business models, financial products, and recent developments in the insurance sector. We’ll also discuss how these companies are leveraging technology, such as generative AI, to improve customer experience and streamline their operations while navigating challenges like higher interest rates and increasing claims expenses.

1. Aflac Incorporated (AFL)

Aflac Incorporated (NYSE: AFL) is a leading insurance company known for its supplemental health and life insurance products. As of April 1, 2024, Aflac’s stock price stood at $85.24, with a market capitalization of $49.045 billion. The company’s PE ratio (TTM) is 10.96, and its EPS (TTM) is $7.78. Aflac is set to release its first-quarter 2024 financial results on May 1, 2024, after the market closes.

Aflac’s financial health appears strong, with a return on equity of 0.22 and a return on assets of 0.0264. The company has a net profit margin of 0.25% and an operating profit margin of 0.09%. However, Aflac’s current ratio of 0.74 suggests that it may face challenges in meeting its short-term financial commitments. The company has $7.39 billion in long-term debt and $5.1 billion in cash and equivalents.

Institutional investors hold approximately 60.0% of Aflac’s shares. The company’s book value is $38.01, and it has a PEG ratio of 0.93. Aflac’s quarterly revenue has been growing steadily over the past couple of years, reaching $3.78 billion in 2024. The company’s stock is traded on the New York Stock Exchange (NYSE) under the ticker symbol AFL, with trading hours from 9:30 AM to 4:00 PM EST, Monday through Friday, except for officially observed holidays in the USA.

2. Lincoln National Corporation (LNC)

Lincoln National Corporation (LNC) is a prominent insurance company that offers a wide range of financial products, including life insurance, annuities, group protection, and retirement plan services. As of April 1, 2024, LNC’s stock price stands at $31.57, with a market capitalization of $5.36 billion and a dividend yield of 5.70%

LNC’s diverse portfolio caters to various customer needs:

  1. Life Insurance: term, universal, indexed universal, and variable universal life insurance policies, along with critical illness and long-term care riders.
  2. Annuities: Fixed, variable, and indexed annuities.
  3. Group Protection: Group life, disability, dental, and supplemental health products.
  4. Retirement Plan Services: Defined contribution plans, administrative, and fiduciary services.

DALBAR has acknowledged the company’s dedication to excellence for its annuity illustrations and life insurance website, and it has been named to the Dow Jones Sustainability Index Fund (DJSI) North America for eight consecutive years. Despite challenges in the past year, such as a net income loss of $752 million, LNC’s focus on customer experience, technology adoption, and sustainable practices positions it for an ongoing annual growth rate in the evolving insurance industry.

3.MetLife (MET)

As of March 28, 2024, MetLife’s stock market price stands at $74.11, marking a 0.257% increase from the previous day. The stock has experienced a 3.07% rise over the past two weeks, indicating a weak but positive short-term trend. Analysts forecast a 7.69% increase in the stock price over the next three months, with a 90% probability of the price remaining between $74.04 and $80.37.

MetLife’s chart today shows mostly positive signals, with buy signals from both short and long-term Moving Averages. Support levels are identified at $73.35, $70.63, $69.30, and $68.55. The company is expected to generate earnings per share of $1.96 on March 31, 2024, while its gross profit is likely to drop to around $52.8 billion in 2024. MetLife’s pretax profit margin is projected to decrease to 0.03 in 2024, but its Price Earnings Ratio is expected to gain to 33.34. Net Income Applicable To Common Shares is anticipated to increase to approximately $3.8 billion in 2024.

MetLife has announced a dividend of $0.42000544 per share on the company’s floating rate non-cumulative preferred stock, Series A, payable on March 15, 2024, to shareholders of record as of Feb. 29, 2024. Despite insiders selling 32% of their holdings over the last year, MetLife remains a strong contender in the insurance industry. The company is expected to face stiff competition from other large insurance companies in the US but has been recognized as a 2024 ENERGY STAR Partner of the Year for Sustained Excellence by the U.S. Environmental Protection Agency (EPA), showcasing its commitment to sustainability and energy efficiency.

4.Primerica (PRI)

As of March 1, 2024, Primerica’s (PRI) stock price stands at $252.11, a slight decrease of 0.34% compared to the previous day. Despite this minor dip, the consensus rating for PRI remains a ‘Hold’, based on the opinions of five analysts. The average price target for PRI is $243.20, suggesting a potential downside of 3.53%. In the past 90 days, PRI has experienced one downgrade, but analysts still predict an upside of 7.09% based on their 12-month stock forecasts.

Recent analyst ratings and stock forecasts for PRI have come from prominent financial institutions such as Keefe, Bruyette & Woods, Morgan Stanley, Raymond James, and Truist Financial. The average revenue forecasts for PRI are as follows:

  • 1-year: $3.0B (+5.75%) [17]
  • 2-year: $3.1B (+10.59%) [17]
  • 3-year: $3.2B (+15.42%) [17]

Primerica’s earnings growth forecast stands at 6.33%, lower than the industry average of 18.8% and the market average of 22.18%. The company’s revenue growth is expected to slow down, with projections displaying a 4.4% annual growth until the end of 2024. However, the consensus price target suggests that Primerica’s intrinsic value has not undergone any major changes with the latest estimates.

Over the past week, Primerica’s shares have increased by 3.61%, outperforming the Zacks Insurance Life Insurance industry’s growth of 0.24%. In the past month, Primerica’s shares have grown by 9.06%, compared to the industry’s growth of 0.48%. The company’s shares have also shown impressive growth in the past quarter (14.77%) and the last year (40.35%), nearly doubling the S&P 500’s growth of 14.15% in the past year.

Primerica’s average 20-day trading volume is 118,903 shares. In the past two months, two earnings estimates have moved higher, while none have moved lower for the full year. This has helped boost Primerica’s consensus estimate from $16.00 to $16.06 in the past 60 days. Zacks Equity Research published an article on February 13, 2024, recommending Primerica (PRI) as a great momentum stock to buy, further highlighting the company’s potential in the insurance sector.

5.Globe Life (GL)

As of April 1, 2024, Globe Life (GL) stock is trading at $114.63, down 1.50% from the previous day. Despite this slight decline, the 5-day prediction for the stock price is $116.87, suggesting a potential increase of 0.43%. The current market sentiment is ‘Bearish,’ with the Fear & Greed Index at 39, indicating ‘Fear’.

Over the last 30 days, GL stock has recorded 15 green days (50%), with a price volatility of 3.87%. The stock’s 50-day and 200-day Simple Moving Averages (SMA) are $122.70 and $116.53, respectively. The 14-day Relative Strength Index (RSI) stands at 17.07. Currently, the GL stock is trading 1.92% below the forecasted price, suggesting it could be undervalued. Analysts predict that the stock could reach $121.87 in 2025, assuming it continues growing at its average yearly rate.

Globe Life’s strong financial performance is evident in its return on equity, which expanded by 860 basis points year-over-year to 24.3% in the trailing 12 months. The company’s shares are trading at a price-to-book value multiple of 10.83, lower than the industry average of 12.95. Globe Life’s dividend yield is 0.81%, and its P/E ratio is 97.73. Analysts’ Consensus Rating for Globe Life is Moderate Buy, with a Consensus Price Target of $133.00, implying a 15.79% upside potential. The company’s EPS for 2024 is expected to be 11.58, showcasing its ongoing growth and consistent performance in the insurance sector.

6. Brighthouse Financial (BHF)

As of April 1, 2024, Brighthouse Financial (BHF) closed at $50.94, down 1.16% from the previous day. The stock opened at $51.40, reached a high of $51.50, and hit a low of $50.72 during the trading session, with a volume of 179,811 shares. Historical data for BHF from April 1, 2023, to April 1, 2024, is provided in the table below:


Brighthouse Financial’s relative strength indicator (RSI) is approaching 44, suggesting that the stock is in a neutral position, likely at or near its support level. The stock price prediction is based on various conventional methods such as EPS estimation, analyst consensus, and fundamental intrinsic valuation. Key fundamental drivers impacting Brighthouse Financial’s stock price prediction include:

  • Implied volatility, which exposes the market’s sentiment of the stock’s possible movements over time
  • Hype-based prediction, providing an analysis of price elasticity to changes in media outlook on Brighthouse Financial over a specific investment horizon

The current value of Brighthouse Financial is $50.97, with after-hype downside and upside margins for the prediction period at 49.29 and 53.77, respectively. The analysis and calculation of the next after-hype price of Brighthouse Financial are based on a 3-month time horizon, indicating that the stock is very steady at this time .

Brighthouse Financial Inc.’s (BHF) stock is currently priced at 51.050 USD and is predicted to have a negative trend in the short term, with the price potentially dropping to 50.892 USD. The stock is part of the financial services sector and the insurance-life industry, with Eric Steigerwalt as the company’s CEO. BHF is traded on the NASDAQ exchange and has a 52-week range between 39.24 and 56.25 USD. The stock’s 50-day and 200-day moving averages are 47.72 and 49.66 USD, respectively, while its 45-day and 90-day moving averages are 52.581 and 52.222 USD. Pivot, resistance, and support levels for stop-loss and trading targets are provided. According to the last 30 days of data, the stock is currently in a bearish cycle. Brighthouse Financial’s market cap is 3.21 B USD, and its share volume is 152,259.


In summary, the insurance industry is undergoing a significant transformation, with companies adapting to changing risks, customer needs, and technological advancements. The top insurance stocks to consider for April 2024, including Aflac, Lincoln National, MetLife, Primerica, Globe Life, and Brighthouse Financial, have demonstrated strong financial performance, diverse product offerings, and a commitment to innovation and sustainability. As investors navigate the evolving landscape of the insurance sector, it is crucial to consider factors such as market capitalization, past performance, and the potential for consistent growth when making informed financial decisions.

By leveraging technology, such as generative AI, and focusing on customer experience, these insurance providers are well-positioned to capitalize on the ongoing growth opportunities in the industry. Whether you are interested in health insurance, life insurance, or other financial products, it is essential to assess your risk tolerance and consult with a trusted financial institution or service provider to determine the best investment strategies for your unique needs and goals. As the insurance industry continues to evolve, staying informed about the latest trends, market conditions, and top-performing companies can help you make sound investment decisions and secure your financial future.

Best Life Insurance Companies in 2024


What are the leading health insurance providers currently? The top five health insurance companies, known for their significant market presence, are UnitedHealth Group, Anthem, Kaiser Permanente, Ambetter, and Humana.

Which insurance companies are considered the best for investors? According to analyst ratings, the best insurance stocks in India for investment purposes are:

  1. SBI Life Insurance Company was established in 2000.
  2. HDFC Life Insurance, also founded in 2000,.
  3. Star Health Insurance.
  4. ICICI Prudential.
  5. Life Insurance Corporation (LIC).

Which insurance company holds the top position in the United States? State Farm is recognized as the leading auto insurance company in the U.S. based on market share, followed by Progressive, Geico, and Allstate.

Who are State Farm’s main competitors in the insurance industry?┬áState Farm’s principal competitors in the insurance business sector include Liberty Mutual Insurance, Allstate, American Family Insurance, GEICO, and Farmers Insurance. When it comes to Customer Net Promoter Score, State Farm ranks second among these competitors

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