PLGO

Zacks Equity Research has identified Oscar Health, Radian Group, CNO Financial Group, Pelagos Insurance Capital Ltd., and Horace Mann Educators as multiline insurance stocks to buy, citing product diversification and digitalization as key industry drivers. The Zacks Multiline Insurance industry currently carries a Zacks Industry Rank of 169, placing it in the bottom 32% of 247 industries, with analysts revising aggregate earnings estimates downward by 6.4% for the current year. Despite this, the report points to diversified portfolios, merger and acquisition activity, and increased technology adoption as trends shaping the industry's future. Oscar Health and Pelagos Insurance Capital hold a Zacks Rank of 1, or Strong Buy, while Horace Mann Educators, CNO Financial Group, and Radian Group carry a Zacks Rank of 2, or Buy. The industry has gained 4.8% year to date, underperforming the Finance sector's 5.9% rise and the S&P 500's 9.7% increase.

Pelagos Insurance Capital (PLGO) has been rated Zacks Rank #1 (Strong Buy) with a Momentum Style Score of B, signaling strong near-term potential. Shares rose 7.85% over the past week and 19.38% over the past month, outpacing the Zacks Insurance - Multi line industry's gains of 2.52% and 11%, respectively. Over the past quarter, the stock climbed 25.66%, and it has surged 57.88% over the past year, far exceeding the S&P 500's 13.88% and 21.37% returns. Earnings estimates have also improved, with the full-year consensus rising from $3.19 to $3.78 over the past 60 days following an upward revision. The stock's average 20-day trading volume stands at 427,137 shares.

The six reinsurance stocks tracked by StockStory reported a strong first quarter, though as a group revenues missed analysts' consensus estimates by 1.4%. Everest Group posted revenues of $4.07 billion, down 4.6% year on year and 5.5% below expectations, while Hamilton Insurance Group outperformed with revenues of $758.9 million, beating estimates by 14.1%. AXIS Capital reported $1.67 billion in revenues, up 7.7% but 3.1% short of estimates, and Reinsurance Group of America delivered $6.64 billion, up 24.3% and 3.1% above expectations. Pelagos Insurance recorded $610.6 million in revenues, down 7.3% but 4.7% ahead of estimates. On average, share prices of the companies have held relatively steady since the latest earnings results.