Yesterday, we looked at a hot AI-enabled tech stock that was racing ahead of its peers.
Today, we’re going to flip the script and look at a “boring” stock that is extremely globally diversified with a proven business model that has withstood the test of time.
Its share price is slightly down this year, but what you’re actually buying in this stock is an attractive – yet low risk – dividend.
Right now, it’s paying a dividend of 5.4% – far above the market average, but not so high that you would classify it as a higher-risk stock.
For my money, this is one stock you “buy and forget”, and let it just keep paying you solid dividends for the years to come.
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Prudential Financial, Inc. (PRU)
Fortune 500 company Prudential Financial (not to be confused with Prudential plc) provides insurance, retirement planning, and investment management products to both retail and institutional customers throughout the United States as well as in over 40 other countries. It is among the top five largest insurance companies in the world.
When it comes to evaluating insurance companies, the top factor is the stability of its balance sheet. Will it be able to sustain a sudden increase in claims?
With $425 billion in investments – combined with its track record – the answer appears to be a definitive yes.
On top of that, both its U.S. and international operations are benefiting from higher net investment spreads and lower expenses. Its retirement business is also a strong growth driver – and with most of the developed world seeing a rapidly aging population, the long-term trend is in its favor.
As for its dividend sustainability, the company did cut its dividend back during the Global Financial Crisis. For the past 10 years though, it’s only moved in one direction – up. And that is likely to continue, making Prudential Financial a top “buy and forget” stock for you to consider.
To your wealth,
Felix @ Ace of Investing