JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com -- Talanx AG shares climbed more than 8% on Thursday after the insurer posted better-than-expected first-half earnings and raised its full-year 2025 profit target.
Net income for the first six months reached €1.37 billion, exceeding consensus of €1.28 billion.
Management lifted full-year guidance from more than €2.1 billion to about €2.3 billion, with roughly €140 million of unused natural catastrophe budget remaining in the Primary Insurance division.
“Admittedly this is in line with current consensus, but important to note that upping guidance ahead of hurricane season is very impressive, and suggests all else equal, we could still see further upside from here, not least given there is still c.€140m unutilised nat cat budget within the Primary business,” said analysts at Morgan Stanley in a note.
Second-quarter net income rose to €770 million from €514 million a year earlier, ahead of consensus of €678 million.
Group EBIT was €1.59 billion, up from €1.29 billion in the prior-year quarter and above consensus of €1.52 billion, though below Morgan Stanley’s estimate of €1.65 billion.
By division, Retail International led growth with EBIT of €262 million, compared with forecasts of €237 million, while net income for the first half came in at €334 million, topping expectations of €297 million.
Corporate & Specialty reported EBIT of €182 million against consensus of €166 million and net income of €274 million, compared with €261 million expected.
Reinsurance was weaker, with property and casualty EBIT of €858 million versus an estimate of €949 million and life EBIT of €215 million against €238 million.
Retail Germany reported EBIT of €55 million, below consensus of €78 million, with strength in property and casualty offsetting the end of a bancassurance partnership in life.
Talanx ended the half with a solvency ratio of 224%. Morgan Stanley reiterated an “overweight” rating and kept the stock as a “Top Pick” in the European insurance sector.