The Suncorp Group Ltd share price hits 52-week high

The Suncorp Group Ltd (ASX: SUN) share price has just hit a 52-week high, trading at $15.20, and is up 12% since the start of this year compared to the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) rise of just 1.8%.

Insurers like Suncorp had a torrid time at the end of the 2016 year, with the share price sinking as low as $11.27 in early November 2016. A solid, unremarkable first half result appears to assuaged investors, with the share price rising accordingly.

Fellow insurers QBE Insurance Group Ltd (ASX: QBE) and Insurance Australia Group Ltd (ASX: IAG) have also posted stellar gains over the past 12-months, rising 15.9% and 22.4%.

Investors looking for yield could do worse than Suncorp, even at today’s price. Even above $15 a share, Suncorp still boasts a dividend yield of above 4.5% and that’s fully franked.

Motley Fool contributor James Mickleboro recently named Suncorp as one of three dividend shares he’d consider buying.

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Motley Fool contributor Mike King has no position in any stocks mentioned. You can follow Mike on Twitter @TMFKinga

The Motley Fool Australia owns shares of Insurance Australia Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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