Investors may consider three stocks to buy that no one else notices. In the insurance sector, Chubb (CB) posted strong revenue growth of 11.8% Y/Y to $12.29 billion. In Q2, the company’s book value reached over $61 billion, or $151 a share.
Chubb has excellent underwriting results. It published a combined ratio of 86.8% in the quarter. Investment income increased by 25%, life segment income grew by 8.7%, and property and casualty income of $1.4 billion was flat Y/Y.
Visa (V), a credit card firm, is on a downtrend. It posted revenue growing by 9.9% Y/Y to $8.9 billion. In the quarter, Visa achieved value-added service growth, topping $7 billion last year. Value-added services include Visa Secure and dispute tools like Visa Resolve Online. These are growth drivers to Visa’s core business.
In the automotive sector, General Motors (GM) lost market momentum and is falling under the radar. The stock fell sharply after its competitor, Ford Motor (F), reported a sharp increase in warranty costs. Ford also continued to lose money from its EV business.
GM expects to earn a profit of $9.50 to $10.50 a share in FY 2024, above a previous guidance of $9.00 - $10.00. After GM stock fell on strong Q2 results, investors should consider buying GM stock.
