Investing for retirement, especially choosing what stocks to invest in for the long term, can be daunting. This may cause some investors to procrastinate, creating and building a retirement portfolio based on the unknown regarding overall profitability and whether they made the right choice in stocks to invest.
Starting early in retirement can have massive implications for overall returns. It is more important to start investing and learn along the way than to put it off due to unwarranted fear.
Below, I discuss three stocks that have experienced impressive growth over the last year and the previous five years, increasing by more than 50% and providing a decent dividend yield. These retirement stocks give investors stress-free returns and are strong candidates for long-term investments.
Seagate Technology (STX)
Seagate Technology (NASDAQ:STX) is a data storage technology company. It produces equipment such as gaming solid-state drives (SSDs), hard disk drives and large storage capacity products.
Over the last year, its share price has increased by 64% and more than doubled over the past five years. The rising demand for generative AI-related products has positively affected STX, along with many other companies within the tech sector.
On April 23, STX reported earnings for the third quarter of fiscal year 2024, which it stated decreased slightly by 11% compared to the previous year, which fell in line with analysts. A net loss of $433 million was reported for the third quarter of FY 2023, and it shifted to net income in Q3 FY 2024 of $25 million.
Seagate Technology offers a dividend yield of 2.76% on an annual basis. Its most recent quarterly distribution was 70 cents per share, paid out to investors on June 19.
STX is a strong buy technology company that has experienced outstanding returns over the last several years and offers continued growth potential based on the increased demand for AI technology.
Allstate (ALL)
Allstate (NYSE:ALL) is a property and causality insurance company that sells its products through independent agents, retailers, direct-to-consumers, online and wholesale.
On May 1, Allstate reported earnings for the first quarter of 2024, stating that total revenue increased by 11% year-over-year. A net loss of $321 million was reported for the first quarter of 2023, which shifted to a net income of $1.2 billion in Q1 2024.
The company’s stock price has increased by 45% over the last year and 53% over the last five years.
Allstate provides an annual dividend yield of 2.31% for investors. It has also increased its dividend for 13 consecutive years. Its most recent quarterly distribution was 92 cents per share on July 1.
Allstate is a large insurance company that has provided investors with consistent returns. With an increased market share of the auto and home insurance market and double-digit revenue growth among its Allstate Protection Plans, the company is poised for continued upside potential.
Permian Resources (PR)
Permian Resources (NYSE:PR) is an oil and natural gas exploration company with properties located in Western Texas and Southern New Mexico within the Midlands and Delaware Basins.
Its share price has increased by 53% over the past year and 131% over the last five years.
On May 7, Permian Resources reported earnings for the first quarter of 2024, stating that total revenue and oil and natural gas doubled year-over-year. Net income also rose by 4%. PR initiated and repurchased approximately 2 million shares within the quarter for $31 million.
Permian Resources offers a dividend yield of 1.43% on an annual basis. Its most recent quarterly distribution was six cents per share on May 29. On the same day, its board of directors approved a variable dividend of 14 cents per share.
PR is performing very well despite the overall energy market lagging behind the S&P 500. The company has been able to drastically improve its overall output due to the Earthstone Energy acquisition and other acquisitions within the Delaware Basin.
As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
