Latest news with #QBEInsuranceGroupLimited
Business Insider
3 days ago
- Business
- Business Insider
QBE Insurance Group Limited (QBEIF) Gets a Buy from Morgans
In a report released today, Richard Coles from Morgans maintained a Buy rating on QBE Insurance Group Limited (QBEIF – Research Report), with a price target of A$26.76. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Coles is a 5-star analyst with an average return of 11.2% and a 57.51% success rate. Coles covers the Financial sector, focusing on stocks such as QBE Insurance Group Limited, COG Financial Services Limited, and Challenger . Currently, the analyst consensus on QBE Insurance Group Limited is a Strong Buy with an average price target of $15.42. 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 19 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.
IOL News
18-05-2025
- Health
- IOL News
Listeriosis: settlement offers made to claimants
IN A BID to resolve the listeriosis class action lawsuit stemming from the 2017 outbreak, which resulted in the loss of 218 lives, including babies, Tiger Brands has presented settlement offers to some of the affected claimants. The outbreak started at Tiger Brands Enterprise Foods facility in Polokwane facility in 2017/18. In 2018, Kyle, 31, and Amelia Victor, 33, from the KZN South Coast, made the heart-breaking decision to take their daughter, Summer, off life support. She had contracted listeriosis while still in the womb. This was after her mother had eaten contaminated polony. The couple had joined the class action. In a statement, Tiger Brands confirmed that 'the attorneys representing its lead reinsurer (QBE Insurance Group Limited) have presented a settlement offer to the plaintiffs' attorneys as part of a road-map to a possible overall resolution of the listeriosis class action". They said that those who suffered the following damage as a result of listeriosis caused by genotype L1-SL6-ST6-CT4148 of Listeria monocytogenes (ST6) would receive settlement offers: - Claimants who contracted (or whose mothers contracted) listeriosis caused by ST6; - Claimants whose legal breadwinners, on whom they were legally dependent, died of listeriosis caused by ST6. Claimants whose legal dependents, who were in their care, and who contracted listeriosis caused by ST6. 'The settlement offer, which was made on April 25, includes an undertaking to pay the claimants' proven or agreed compensatory damages in terms of section 61 of the Consumer Protection Act 68 of 2008,' read the statement. However, Tiger Brands said the offer did not mean they had accepted liability and due to privacy details offers or payments would not be made public. 'The offer is subject to certain conditions and has been made without admission of liability and in full and final settlement of the claims of the claimants,' read the statement. Tiger Brand said they were working towards a timely implementation of the offers and settlement, provided they accepted the offers. 'It is expected that the process to present the offer to these qualifying claimants would take several weeks, and that arrangements to quantify their damages would follow over the ensuing weeks. 'The class action, which is being managed in two stages, is still at the first stage during which liability is to be determined by the court. Only if Tiger Brands is found to be liable will the issue of causation arise, in the second stage of the class action, as well as an assessment of compensation payable to qualifying claimants for damages suffered,' read the statement. Richard Spoor Incorporated (RSI) Attorneys and LHL Attorneys, who launched the class action lawsuit against the food giant and now represents over 1 000 claimants, said they were glad to see the case move forward. 'We welcome Tiger Brands' effective admission of liability for the world's deadliest listeriosis outbreak in 2017/2018, which claimed the lives of over 200 persons, primarily children, and impacted more than a 1 000 South Africans. 'Tiger Brands' decision to settle claims is based on the incredible investigative work of the National Institute of Communicable Diseases (NICD), under the direction of the Minister of Health, Dr Aaron Motsoaledi. Their scientific investigation, which conclusively traced the outbreak to Tiger Brands' Polokwane facility, has been internationally peer-reviewed and praised. These findings have since been confirmed by world-renowned epidemiologists, including Tiger Brands' own experts,' said Spoor. They commended Tiger Brands, its shareholders, and insurers for agreeing to compensate victims. 'This reflects a positive move towards corporate accountability, responsible citizenship and justice for victims. The current proposal provides for full compensation to claimants for all proven damages, subject to a settlement mechanism that still needs to be finalised, including how individual damages would be assessed and how claimants will be categorised under the settlement structure. 'Before any settlement can be finalised, it must be presented to the high court, which will determine its fairness as the ultimate guardian of class member interests. While this process will require time, we remain confident that Tiger Brands' renewed and demonstrable commitment to the victims will ultimately lead to a comprehensive resolution of all claims,' said Spoor. Foster Mohale, the spokesperson for the Department of Health, commended Tiger Brands' decision to move forward. 'We welcome the decision by Tiger Brands to finally settle the listeriosis class action, which represents an important milestone to bring this lengthy legal matter to finality and closure to the affected families whose loved ones succumbed to this deadly, but preventable and treatable disease,' said Mohale. THE POST
Business Insider
13-05-2025
- Business
- Business Insider
Morgans Reaffirms Their Buy Rating on QBE Insurance Group Limited (QBEIF)
Morgans analyst Richard Coles maintained a Buy rating on QBE Insurance Group Limited (QBEIF – Research Report) today and set a price target of A$24.07. The company's shares closed last Wednesday at $13.50. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Coles is a 4-star analyst with an average return of 10.2% and a 55.03% success rate. Coles covers the Financial sector, focusing on stocks such as Challenger , QBE Insurance Group Limited, and Computershare Limited. The word on The Street in general, suggests a Strong Buy analyst consensus rating for QBE Insurance Group Limited with a $15.32 average price target, implying a 13.48% upside from current levels. In a report released today, Morgan Stanley also maintained a Buy rating on the stock with a A$24.60 price target. The company has a one-year high of $15.10 and a one-year low of $9.95. Currently, QBE Insurance Group Limited has an average volume of 719. 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.
Business Insider
12-05-2025
- Business
- Business Insider
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. Protect Your Portfolio Against Market Uncertainty 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.
Business Insider
12-05-2025
- Business
- Business Insider
Analysts' Opinions Are Mixed on These Financial Stocks: Victory Capital Holdings (VCTR) and QBE Insurance Group Limited (OtherQBEIF)
Analysts have been eager to weigh in on the Financial sector with new ratings on Victory Capital Holdings (VCTR – Research Report) and QBE Insurance Group Limited (QBEIF – Research Report). Protect Your Portfolio Against Market Uncertainty Victory Capital Holdings (VCTR) Barclays analyst Benjamin Budish maintained a Hold rating on Victory Capital Holdings on May 9 and set a price target of $62.00. The company's shares closed last Friday at $59.14. According to Budish is a 5-star analyst with an average return of 15.4% and a 71.0% success rate. Budish covers the Financial sector, focusing on stocks such as Virtus Investment Partners, Intercontinental Exchange, and Apollo Global Management. Currently, the analyst consensus on Victory Capital Holdings is a Moderate Buy with an average price target of $68.86, a 16.2% upside from current levels. In a report issued on April 29, J.P. Morgan also maintained a Hold rating on the stock with a $62.00 price target. QBE Insurance Group Limited (QBEIF) Morgan Stanley analyst Andrei Stadnik maintained a Buy rating on QBE Insurance Group Limited today and set a price target of A$24.60. The company's shares closed last Wednesday at $13.50. According to Stadnik is a 4-star analyst with an average return of 7.1% and a 54.4% success rate. Stadnik covers the Financial sector, focusing on stocks such as Insurance Australia Group Limited, Macquarie Group Limited, and Insignia Financial Ltd. Currently, the analyst consensus on QBE Insurance Group Limited is a Strong Buy with an average price target of $15.12, representing a 12.0% upside. In a report issued on April 30, Goldman Sachs also maintained a Buy rating on the stock with a A$25.00 price target.
