Stability is at the top of the list of traits investors look for in dividend stocks, regardless of the sector or industry. The go-to dividend plays of long-term buy-and-hold strategists are not flashy companies or those in red-hot industries, but rather "boring" firms with a proven track record of consistency, even in difficult markets or economic climates. That's not to say, though, that there aren't often-overlooked names that may fit this bill.Get Essential Utilities alerts:Investors may hesitate to pick ...

Key Takeaways Berkshire Hathaway has raised its stake in Japan's five trading houses since 2019.Yen bond financing helps limit currency risk and cut borrowing costs for Berkshire.BRK.B expects $812M in 2025 dividends against $135M in interest expenses.Berkshire Hathaway (BRK.B) has been steadily increasing its stakes in Japan’s five companies — Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo — since initiating investment in July 2019. These companies operate across diverse sectors, such as energy, commod ...

Core Insights - Voya Financial, Inc. (VOYA) shares are trading at a discount compared to the Zacks Life Insurance industry, with a price-to-book value of 1.11X, lower than the industry average of 1.63X, the Finance sector's 4.23X, and the Zacks S&P 500 Composite's 8.2X [1] - Voya has a market capitalization of $7 billion and an average trading volume of 0.8 million shares over the last three months [1] - Voya's shares have gained 11% over the past year, outperforming the industry growth of 8.7%, but underperforming the Finance sector and the S&P 500 Composite, which increased by 19% and 18.1%, respectively [3] Financial Performance - Voya has been trading above its 200-day simple moving average (SMA), indicating a short-term bullish trend [6] - The Zacks Consensus Estimate for Voya's 2025 earnings per share indicates a year-over-year increase of 37.3%, with revenues projected at $1.2 billion, reflecting a 14.9% year-over-year improvement [10] - The consensus estimates for 2025 and 2026 earnings have increased by 2.2% and 0.4%, respectively, in the last week, showing analysts' optimism [11] Market Position - The average price target for Voya, based on short-term targets from 12 analysts, is $81.4 per share, suggesting a potential upside of 14.7% from the last closing price [12] - Voya's long-term strategic partnership with Allianz Global Investors has enhanced its scale and diversification, significantly broadening its asset management capabilities [14] - Voya generates strong earnings from its diversified portfolio, which includes Wealth Solutions, Investment Management, and Health Solutions, characterized by high growth potential and strong returns [15] Challenges - Total expenses increased by 2.1% year-over-year to $1.8 billion in Q2, driven by higher policyholder benefits and operating costs [16] - While Voya benefits from strong performance across its core businesses, rising expenses and benefit costs present challenges that could temper financial performance [17]

Core Viewpoint - Sun Life Financial Inc. (SLF) is trading at a premium compared to the Zacks Life Insurance industry, with a forward price to earnings ratio of 10.07X, higher than the industry average of 7.37X, but lower than the Finance sector's 16.74X and the Zacks S&P 500 Composite's 22.52X [1] Group 1: Financial Performance - SLF's shares have gained 17.9% over the past year, outperforming the industry's growth of 11.2%, but underperforming the Finance sector and the Zacks S&P 500 Composite, which grew by 20.4% and 20.3% respectively [3] - The market capitalization of SLF is $31.8 billion, with an average trading volume of 0.7 million shares over the last three months [2] Group 2: Growth Projections - The Zacks Consensus Estimate for SLF's 2025 earnings per share indicates a year-over-year increase of 9.9%, with revenues projected at $30.5 billion, reflecting a 31.1% year-over-year improvement [6] - For 2026, the consensus estimates suggest an increase of 8.3% in earnings per share and 0.9% in revenues compared to 2025 [6] Group 3: Analyst Sentiment - Five out of six analysts covering SLF have raised their earnings estimates for 2025 and 2026 in the past 30 days, with the consensus estimate for 2025 earnings increasing by 1.3% and for 2026 by 1.8% [9] Group 4: Strategic Initiatives - SLF has made over 10 acquisitions, enhancing its U.S. health and group benefits through DentaQuest and expanding its Asian presence via the IPO of its India joint venture and growth in Vietnam and Indonesia [8][13] - The company is also investing in private fixed income, mortgages, and real estate, which strengthens its Asset Management division [15] Group 5: Return Metrics - SLF's return on equity (ROE) for the trailing 12 months is 17.1%, surpassing the industry average of 14.8%, indicating efficient utilization of shareholders' funds [12] - The return on invested capital (ROIC) for SLF is 0.7%, also better than the industry average of 0.6% [12] Group 6: Cost Considerations - Sun Life's expenses have increased due to higher employee costs, service fees, and amortization of intangible assets, which could pressure profitability despite hedging strategies aimed at limiting earnings volatility [16][17]

Core Insights - Brighthouse Financial, Inc. (BHF) reported second-quarter 2025 adjusted earnings of $3.43 per share, missing the Zacks Consensus Estimate by 27% and reflecting a year-over-year decline of 38.4% [1][9] - The lower-than-expected results were attributed to reduced premiums and lower net investment income, although total expenses decreased significantly [1][9] Financial Performance - Total operating revenues for the quarter were $2.2 billion, down 2.9% year over year, primarily due to lower universal life and investment-type product policy fees and net investment income, missing the consensus estimate by 2.1% [2] - Premiums amounted to $166 million, an 8.3% decrease year over year, falling short of the Zacks consensus estimate of $200 million [2] - Adjusted net investment income was $1.3 billion, down 1.8% year over year, mainly due to lower income from alternative investments, with an investment income yield of 4.28% [3] - Total expenses were $778 million, a nearly 45% decrease from $1.4 billion year over year, which partially offset the revenue decline [3] Segment Performance - Annuities generated an adjusted operating income of $332 million, remaining flat year over year, with annuity sales increasing 8.4% to $2.6 billion, driven by stronger fixed annuity sales [4] - Life insurance segment reported an adjusted operating loss of $26 million compared to earnings of $42 million in the prior year, with life insurance sales increasing 17.8% quarter over quarter to $33 million [5] - The Run-off segment recorded an adjusted operating loss of $83 million, wider than the previous year's loss of $30 million, while Corporate & Other had an adjusted operating loss of $25 million compared to earnings of $2 million in the prior year [6] Financial Position - Cash and cash equivalents increased by 24.7% year over year to $5.5 billion, while shareholders' equity rose 37% to $5.7 billion [7] - Book value per share, excluding accumulated other comprehensive income, was $144.09 as of June 30, 2025, reflecting a 12.3% year-over-year increase [7] - Statutory combined total adjusted capital was $5.6 billion as of June 30, 2025, up 3.7% year over year [7] - The estimated combined risk-based capital ratio was in the range of 405-425% as of June 30, 2025 [8] Share Buyback Program - Brighthouse Financial repurchased shares worth $43 million in the second quarter of 2025, bringing the year-to-date total to $102 million [10]

Core Viewpoint - CNO Financial Group reported a decrease in net income for the second quarter of 2025, with net income at $91.8 million or $0.91 per diluted share, down from $116.3 million or $1.06 per diluted share in the same quarter of 2024, primarily due to non-economic accounting impacts from market volatility [1][6][29] Financial Performance - Net operating income for 2Q25 was $87.5 million, or $0.87 per diluted share, compared to $114.6 million, or $1.05 per diluted share in 2Q24, reflecting a 24% decrease [1][3][29] - Total revenues for 2Q25 were $1,151.5 million, up from $1,066.2 million in 2Q24, indicating a year-over-year increase [29] - The company returned $116.7 million to shareholders during the quarter [5] Key Metrics - Book value per share was $25.92, an increase from $24.75 at the end of 2024, while book value per diluted share, excluding accumulated other comprehensive loss, was $38.05, up from $37.35 [20] - Return on equity (ROE) for the trailing four quarters was 11.9%, down from 19.9% in the previous year [22] - Operating ROE for the same period was 11.8%, compared to 11.2% in the prior year [22] Business Growth - Total new annualized premiums (NAP) increased by 17%, with life NAP up 22% and health NAP up 11% [5] - Annuity collected premiums rose by 19%, and client assets in brokerage and advisory increased by 27% [5] Investment Portfolio - As of June 30, 2025, the fair value of CNO's available-for-sale fixed maturity portfolio was $23,047 million, with net unrealized losses of $2,339.8 million [17] - The consolidated statutory risk-based capital ratio of U.S.-based insurance subsidiaries was estimated at 378% [18] Shareholder Actions - During 2Q25, the company repurchased $100 million of common stock, with an average cost of $38.09 per share [19] - Dividends paid on common stock totaled $16.7 million during the quarter [19]

Summary of Conference Call Records Industry Overview - **Industry**: China Insurance Sector - **Recent Developments**: The sector has seen a positive response (+9.1%) following anti-involution measures announced by the State Council on July 18, compared to the Hang Seng Index (+4.2%) [1] Key Points and Arguments Interest Rate Impact - **Interest Rate Rises**: The increase in interest rates is seen as beneficial for life insurance companies in the long run due to: - Positive impact on Net Asset Value (NAV) and solvency [1] - Easing of spread loss risk [1] - Stronger actuarial investment return assumptions under embedded value (EV) [1] - **Government Bond Yields**: 10/30-year government bond yields increased by 3.9/4.2 basis points to 1.7%/1.92% over the past four trading days [1] Company-Specific Insights - **China Life**: - Stock price increased by 16% over the past four trading days. - Seen as a proxy for China's yield due to its large market cap and pure life business model [1]. - Significant discount to A-share (52% vs. peers' 15%-37%) [1]. - Valuation at 0.36x P/EV with a 10% operating Return on Embedded Value (RoEV) [1]. Regulatory Developments - **Pricing Interest Rate (PIR) Benchmark**: Expected to be lowered in late July 2025, which may lead to cuts in PIR caps [2]. - **Product Transition**: Insurers are expected to complete the transition to new products within two months, making Participating (PAR) policies more attractive [2]. - **Solvency Measures**: NCI and Taiping have reclassified held-to-maturity bonds to available-for-sale to boost solvency, while China Life has not taken similar actions [2]. Shareholder Returns - **Share Buybacks**: China Life and PICC are evaluating share buyback options, particularly in scenarios of deep market turmoil [2]. - **Dividend Stability**: Both companies aim to maintain stable dividends per share (DPS) despite the lack of a clear framework for dividends [2]. Investment Opportunities - **Ping An and CPIC**: - Ping An is favored for its expected OPAT growth acceleration (+6% in 2025E) and strong VNB growth momentum [3]. - CPIC is noted for its stable OPAT growth and potential share buyback [3]. Additional Important Insights - **Valuation Discounts**: The valuation discount of H-shares compared to A-shares is significant, indicating potential investment opportunities [1][3]. - **Interest Rate Sensitivity**: The sensitivity of Value of New Business (VNB) to interest rates is expected to decrease significantly year-over-year for most companies, particularly Taiping, as the product mix shifts towards PAR policies [1]. Conclusion The China insurance sector is poised for growth due to favorable interest rate changes and regulatory developments. Companies like China Life, Ping An, and CPIC present attractive investment opportunities, particularly in light of their strategic positioning and potential for shareholder returns.

Core Viewpoint - Brighthouse Financial, Inc. (BHF) is trading at a significant discount compared to its peers in the life insurance industry, with a price-to-book value of 0.51X versus the industry average of 1.91X, indicating potential undervaluation [1]. Financial Performance - BHF has a market capitalization of $2.72 billion and has experienced a year-to-date share price decline of 1.5%, underperforming the industry, Finance sector, and the Zacks S&P 500 Composite [1][3]. - The Zacks Consensus Estimate for 2025 revenues is projected at $8.8 billion, reflecting a year-over-year increase of 1.1%. However, the current-year earnings estimate is $18.44 per share, down 6.3% from the previous year [5]. - The trailing 12-month return on equity for BHF is 25.6%, significantly higher than the industry average of 15.37%, indicating effective utilization of shareholders' equity [11]. Strategic Initiatives - BHF is expanding its life and annuity offerings to enhance growth and market presence, focusing on less capital-intensive products and broader distribution channels [7][12]. - The company aims to capitalize on the growing individual insurance market by increasing life insurance sales and enhancing annuity solutions [12]. Investment Income - BHF's net investment income has shown consistent improvement, with adjusted net investment income rising 2% year-over-year to $1.3 billion in Q1 2025, supported by asset growth [14]. - The yield on adjusted net investment income reached 4.25% in the first quarter, indicating a strengthening investment income profile [14]. Financial Challenges - Total expenses for BHF nearly quadrupled to $2.7 billion in Q1 2025, with corporate expenses increasing by 15.4% year-over-year to $239 million, leading to a negative net margin of 11% [15]. - The company's long-term debt stands at $3.2 billion, resulting in a high debt-to-equity ratio of 59.5%, significantly above the industry average of 16.8% [16]. Analyst Sentiment - The average price target for BHF, based on short-term estimates from 10 analysts, is $59.60 per share, suggesting a potential upside of 21.3% from the last closing price [8]. - Mixed analyst sentiment is reflected in the slight downward adjustment of the 2025 earnings estimate by 0.2% over the past week, while the 2026 estimate increased by 0.5% [10].

Hawaiian Native Eagerly Explains Fees To Clients At This $105 Billion Life Insurance Advisory https://t.co/kzRhjqpzxP https://t.co/kzRhjqpzxP ...

Hawaiian Native Eagerly Explains Fees To Clients At This $105 Billion Life Insurance Advisory https://t.co/OPhnYBeTFw https://t.co/OPhnYBeTFw ...