UBS Reaffirms Their Buy Rating on QBE Insurance Group Limited (QBEIF)
In a report released today, Kieren Chidgey from UBS maintained a Buy rating on QBE Insurance Group Limited (QBEIF – Research Report), with a price target of A$24.65. The company's shares closed last Wednesday at $13.50.
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Chidgey covers the Financial sector, focusing on stocks such as ASX , Medibank Private, and QBE Insurance Group Limited. According to TipRanks, Chidgey has an average return of -3.8% and a 43.75% success rate on recommended stocks.
In addition to UBS, QBE Insurance Group Limited also received a Buy from Morgan Stanley's Andrei Stadnik in a report issued today. However, on the same day, Bell Potter maintained a Hold rating on QBE Insurance Group Limited (Other OTC: QBEIF).
Based on QBE Insurance Group Limited's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.85 billion and a net profit of $977 million. In comparison, last year the company earned a revenue of $11.43 billion and had a net profit of $955 million
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QBEIF in relation to earlier this year.
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