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Hanwha |
[Alpha Biz= Reporter Kim Minyoung] On August 12, Korea Investment & Securities raised its target price for Hanwha General Insurance from 6,500 won to 7,000 won. This increase follows an initial target of 3,000 won set in November 2022, reflecting an upward trend. However, it remains below the target of 7,100 won set in August 2022.
Korea Investment & Securities noted that Hanwha General Insurance demonstrated growth and improved profitability in long-term and auto insurance, leading to solid first-half results. They expect annual profit growth and positive impacts on the stock price due to anticipated dividends.
For the second and fourth quarters, Hanwha General Insurance reported a net profit of 129.9 billion won, marking a 26.2% increase from the previous year and a 4.0% increase from the previous quarter. Insurance profit rose by 25.0% year-on-year to 136 billion won.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
