Insurance Stocks Rebound As Investors Assess Hurricane Milton's Aftermath: 3 Stocks To Watch
Portfolio Pulse from Aaron Bry
Insurance stocks, including HCI Corp, American Coastal Insurance Corp, and Heritage Insurance Holdings, rebounded after Hurricane Milton's impact was less severe than expected. Mosaic Co also saw gains, while Generac Holdings Inc. traded lower.
October 10, 2024 | 4:54 pm
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NEGATIVE IMPACT
Generac Holdings Inc. shares traded lower as the demand for generators decreased with the less severe impact of Hurricane Milton.
GNRC's stock fell as the hurricane's impact was less severe, reducing the immediate need for generators.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
American Coastal Insurance Corp shares increased by 7% after Hurricane Milton's impact was less damaging than expected.
ACIC's stock rose as the hurricane's damage was less severe, easing concerns over potential insurance payouts.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
HCI Corp shares rose by 6% as Hurricane Milton's impact was less severe than anticipated, alleviating investor concerns.
HCI Corp's stock rebounded as the hurricane's damage was less than feared, reducing potential insurance claims.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Heritage Insurance Holdings shares rose by 3% as the impact of Hurricane Milton was less severe than anticipated.
HRTG's stock increased as the hurricane's damage was less than expected, reducing potential insurance claims.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mosaic Co shares rose by more than 3% as fears of flooding in its Florida mines due to Hurricane Milton subsided.
Mosaic Co's stock rose as the hurricane's impact on its Florida mines was less severe than feared.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60