Some firms are just giants in their industries, featuring wide moats, huge asset bases and plenty of profits. When it comes to the insurance industry, there are only a handful of names that meet this definition. One of them happens to be our latest pick for our Best Dividend Stocks List.
The win for our pick isn’t that it’s just an insurance issuer, but that it is also a full-blown asset manager. This includes providing mutual funds, ETFs and other investment vehicles. The firm is also one of the largest owners of commercial real estate on behalf of its investors. Its large pool of assets and businesses creates a mega-sized financial stock that is rivaled in size by only some of the largest banks.
It’s been good for its bottom line as well. In the years since the Great Recession, our pick has bounced back and only strengthened its position as a leading insurance/asset manager. And thanks to growing profits and the Federal Reserve’s allowance, our pick has returned to dividend growth. With nearly 14 years’ worth of steady and rising payouts, our pick is once again a top dividend name.
With that, our pick makes an ideal selection and is now added to our coveted list.
In order to make room for this insurer and another top utility stock, we had to remove an industrial giant and fintech firm from our list this week.
You can check out the Best Dividend Stocks Model Portfolio to explore all the stocks.
