What is Nationwide Insurance’s stock price, and are they publicly traded? Unfortunately, investors cannot purchase shares of Nationwide Insurance because it is a private company. However, Allstate (NYSE: ALL), Progressive (NYSE: PGR), and Travelers (NYSE: TRV) are insurance stocks that traders can invest in.
Nationwide Insurance is an American insurance and financial services organization headquartered in Columbus, Ohio. It was founded nearly 100 years ago. Today, it is one of the US’s largest and most diversified insurance companies. It offers various products and services, including property and casualty insurance, life insurance, retirement savings plans, and asset management solutions. It has multiple subsidiaries for both individual and business clients nationwide.
Unfortunately, Nationwide Insurance is owned by its policyholders rather than shareholders, meaning it doesn’t trade on the stock market. Thankfully, the company has plenty of publicly traded competitors across the country. You need to know everything about Nationwide Insurance and its US competitors.
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Nationwide Insurance Introduction (No Stock Symbol)
Nationwide was founded as the Farm Bureau Mutual Automobile Insurance Company to provide affordable auto insurance to farmers in Ohio. Over the years, the company expanded its offerings and geographic reach. In 1955, it was renamed Nationwide.
If you’ve ever seen one of Nationwide’s ads, you probably remember its slogan, “Nationwide is on your side.” Where does it come from? The company has a strong focus on customer service and innovation. Its values reflect its commitment to protecting what matters most to its customers. After browsing a little, consumers were generally satisfied with Nationwide.
There were a few negative comments. Nationwide offers a mobile app that allows customers to manage their policies, file claims, and access various services conveniently. You can also call them or visit one of their 26,000 associates nationwide.
Nationwide has a history of industry firsts, including being the first insurance company to offer 24-hour claims service and to endorse Medicare before it was legally required. There is even an arena in Columbus named Nationwide, enhancing the company’s community presence.
It is the home of the Columbus Blue Jackets since 2000. Can you trade Nationwide Insurance stock?
Products and Services
Today, Nationwide is a Fortune 100 company with offices across the country. It offers many insurance and financial products designed to meet the diverse needs of its customers.
Personal Insurance
- Auto Insurance: Coverage for cars, motorcycles, boats, ATVs, RVs, personal watercraft, and golf carts.
- Home Insurance: Protection for homes, condos, renters, and mobile homes.
- Life Insurance: Term life, whole life, universal life, and variable life insurance policies.
- Specialty Insurance: Umbrella, travel, pet, and wedding insurance.
Business Insurance
- Commercial Insurance: Property, liability, workers’ compensation, and commercial auto insurance.
- Employee Benefits: Group life, health, and disability insurance plans.
Financial Services
- Retirement Plans: Public and private sector retirement plans, annuities, and mutual funds.
- Investment Management: Asset management and investment advisory services.
Nationwide also operates hundreds of affiliates across the country. They also offer a variety of insurance products and financial services. If you are interested, some of them even offer mutual funds. However, you can’t trade Nationwide Insurance stock.
Financials
As you would expect, Nationwide’s financials are very strong. In 2023, the company’s revenue reached $60.3B, marking the third consecutive year of record sales. Most importantly, it is profitable and growing.
Furthermore, Nationwide holds high financial ratings from major rating agencies (A+ from Standard & Poor’s and AM Best and a high rating from Moody’s) for its products. This means that it doesn’t risk defaulting. Too bad we can’t trade Nationwide Insurance stock.
Nationwide Insurance Stock IPO
After reading all this, you might consider investing in Nationwide Insurance stock. Unfortunately, it isn’t a public company and an IPO seems unlikely. In the past, Nationwide Financial Services (NFS), a group component, was public between 1997 and 2009.
Fortunately, Nationwide has some public competitors that might be of interest.
Nationwide Insurance Stock Competitors
If you’re a shareholder of an insurance company, you want its stock to provide you with value and growth. However, this comes with certain drawbacks for the company’s clients.
Public insurance companies must balance interest, which can compromise the company’s commitment to policyholders. Furthermore, like many financial stocks, insurance stocks can be sensitive to economic conditions and interest rate changes. They can become very volatile during periods of economic uncertainty.
We’re not here to tell you which insurance company to choose for your claims. We’re here to provide more information on insurance companies trading on the US stock market. Here are a few Nationwide Insurance stock competitors.
1. Allstate Corporation (NYSE: ALL)
Allstate Corporation is one of the US’s largest publicly traded property and casualty insurance companies. It is a major personal lines insurance market player, focusing strongly on auto and home insurance. Overall, Allstate offers products similar to Nationwide’s and has a slogan to compete with: “You’re in good hands.”
Not as much as the competition because it ranks lower in overall performance among top insurers, particularly in customer service and claims handling. Another key difference is Nationwide’s strong presence in financial services, which Allstate lacks.
Despite having some of the highest annual rates in the industry, Allstate’s stock is performing well. It is trading near an all-time high. It also offers a yearly dividend yield of 2.30% (as of July 2024). This is a good Nationwide Insurance stock alternative.
2. Progressive Corporation (NYSE: PGR)
A great Nationwide Insurance stock alternative is Progressive Insurance. Progressive is the most valuable company on this list and the most expensive (as of July 2024). The company offers insurance for three main segments (personal, commercial, and property) but primarily focuses on personal and commercial auto insurance.
Progressive offers very competitive pricing and innovative products. Its market share in the US is significant and keeps growing. Today, it is the biggest motor insurance carrier in the country.
In the last 12 months, Progressive’s stock seems like it only had green days. It is currently trading at its all-time high. Progressive also offers a yearly dividend yield of 0.19%. It seems to be popular among investors and consumers.
3. Travelers Companies (NYSE: TRV)
Let’s move on to some smaller players in the Nationwide Insurance stock alternative. Travelers isn’t only for those traveling, as the name suggests. It offers the same products as its competitors, minus the financial services Nationwide excels in.
I’ve never seen this company in any Super Bowl commercials, and it doesn’t have a catchy slogan like its peers. Thankfully, those things don’t affect its stock market performance. It remains very popular among both investors and consumers.
Like Progressive and Allstate, Travelers is trading near an all-time high and offers a yearly dividend yield of 2.06% (as of July 2024).
4. MetLife (NYSE: MET)
MetLife is one of the largest global providers of insurance, annuities, and employee benefit programs. It operates in over 60 countries across North America, Latin America, Asia, Europe, Africa, and the Middle East. The company has around 90M customers.
MetLife was once a mutualized company like Nationwide but demutualized and became a publicly traded company in 2000. Like Nationwide, MetLife also has a strong presence in the financial services industry.
What about MetLife’s stock? Since its IPO in 2000, it has seen much more volatility than its competitors. It has been much more consistent in the last four years thanks to its aggressive and strategic growth plans.
MetLife’s stock price is trading near its all-time high, and its annual dividend yield is 3.11% (as of July 2024).
5. Prudential Financial (NYSE: PRU)
We conclude this Nationwide Insurance stock competitors section with Prudential Financial. The company was the largest insurance provider in the US in 2019, but that didn’t last.
Today, Prudential is a major American Fortune Global 500 and Fortune 500 company that provides retail and institutional customers insurance, retirement planning, investment management, and other financial products and services. It is present in over 50 countries and has focused on expanding access to investing, insurance, and retirement security.
Like MetLife, Prudential’s stock has seen some volatility in recent years. Today, it is also trading near an all-time high. The most attractive aspect of this stock is its annual dividend yield, which is 4.39% (as of July 2024).
Final Thoughts: Nationwide Insurance Stock
Nationwide is one of the US’s largest and most diversified insurance companies. Despite its strong performance and excellent customer service, there isn’t Nationwide Insurance stock. Thankfully, many of its competitors are.
Remember that insurance companies are financial stocks that can be sensitive to domestic and global economic conditions. In 2024, many industries are performing remarkably and trading near all-time highs, including insurance companies. How long will that last, and how severe will the correction be?
If you want to learn more about profiting from the stock market, head to our free library of educational courses. We have something for everyone, including trading options for those with small accounts.
Frequently Asked Questions
Nationwide is a mutual company, meaning that policyholders are its owners. There is no Nationwide Insurance stock.
Thanks to established regulations in the US, policyholders would receive some level of protection. However, they might face coverage limits and delays in claim payments.
Nationwide has been steadily growing over the years, and it is profitable. All signs point out that it is financially stable.
