QBE Insurance Group (QBE) Shares Tip

QBE Insurance Group (QBE) shares have retained their Ourperform recommendation with a $29.59 revised share price target for stock analyst Macquarie Research Equities (MRE). The analyst sees QBE having an attractive growth profile. MRE have noticed that QBE shares have performed strongly in this half with their shares up 28 percent since June. QBE, a provider of reinsurance and general insurance announced last night the acquisition of Praetorian Financial Group, a US specialist property and casualty primary insurer, from Hannover Re for US$0.8billion. In conjunction with the acquisition announcement, QBE indicated that it expects its FY06 insurance profit margin to be "around 20 percent of net earned premium" (compared to previous guidance of 17–18%). It also expects profit after tax to be up "around 30%". After this news, the analyst revised their share price target up to $29.59. On the other hand, another stock analyst Citigroup Investment Research (CIR) have a share price target of $30 for this particular Australian stock. They have lifted their share price target from $26 to $30 and retain their Buy/Medium Risk share recommendation. Their moves also follow QBE's post market close announcement that it is acquiring Praetorian Financial Group from Hannover Re for US$800m. A previous QBE Insurance stock recommendation.

QBE Insurance Group Limited is listed on the Australian Stock Exchange (ASX) under stock code . You can view their investor website here. QBE was listed on the ASX on 28 June, 1973. Find out the meaning of the recommendations in this primer. John Cloney is the Chairman of QBE Insurance and Francis O'Halloran the CEO. The company is involved in underwriting general and reinsurance risks, investment management and the management of the economic entity's share of the NSW and Victorian workers' compensation scheme. Browse for other stockbroker recommendations. You can use Instalment Warrants to trade QBE. Check your charts and good luck with your share trading!