MENU

The Steadfast Group Ltd (ASX:SDF) share price has taken a dive today

The Steadfast Group Ltd (ASX: SDF) share price has fallen 8.6% to $2.80 at the start of the trading week – slipping from a near 52-week high of $3.07 to close off November 9.

The insurance stock spent late October and early November gaining ground after the release of its AGM address and FY19 guidance, but much of these gains have been erased today in early trade.

It’s unclear what the sharp dip in Steadfast’s share price is related to, but other insurance providers are also falling into the red today, albeit it not as dramatically as Steadfast.

Suncorp Group Ltd (ASX: SUN) shares are down 0.5% to $14.05 at the time of writing, with Insurance Australia Group Ltd (ASX: IAG) shares down 0.5% to $7.18 while QBE Insurance Group Ltd (ASX: QBE) holds steady at $11.49.

All insurance providers have faced a difficult time in the past six months as Australian Competition and Consumer Commission (ACCC) reports into insurance rates have put pressure on margins.

But back in October, Steadfast forecast better than expected first-quarter FY19 organic growth driven by single-digit price rises by insurers, with a strong pipeline of acquisitions.

Some punters consider insurance stocks as blue chips, given the amount average Australians rely on insurance these days. But here are our Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Steadfast Group Ltd. 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 Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!