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US insurance companies with highest price-to-estimated EPS ratios in Q3

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US insurance companies with highest price-to-estimated EPS ratios in Q3

Publicly traded U.S. property and casualty insurance companies had a median price-to-estimated 2021 earnings multiple of 14.1x as of the end of the third quarter, down from 15.2x a quarter earlier, according to an S&P Global Market Intelligence analysis.

Kemper Corp. was the most richly valued P&C carrier, with a price-to-2021 EPS multiple of 74.8x as of Sept. 30. Kemper's stock stood at $66.79 at the end of September, down 9.62% from the close of the second quarter.

Sell siders expect the median full year 2021 EPS for P&C insurers in this analysis to finish up 38.1% from 2020.

Argo Group International Holdings Ltd. posted a one-year total return of 55.6% as of the close of the third quarter, thanks in large part to a significant rise in its share prices. The stock stood at $52.22 as of Sept. 30, compared to $34.43 a year earlier.

In the life insurance space, Primerica Inc. retained its position as the most-expensive life insurer, with a price-to-estimated 2021 EPS multiple of 13.0x.

The group of 15 publicly traded U.S. life insurers in this analysis is expected to see its median 2021 EPS increase 34.3% compared to 2020.

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