Goldman Sachs: PICC Group (01339) Aims for Sustainable Dividend Growth, Sets HK$6.8 Target Price

Stock News01-20 10:06

Goldman Sachs released a research report maintaining a "Neutral" rating on PICC GROUP's (01339) H-shares and a "Sell" rating on its (601319.SH) A-shares, with 12-month target prices of HK$6.8 and RMB 6.5, respectively, based on a sum-of-the-parts valuation. The bank assigned a "Buy" rating to P&C Insurance Company of China (02328), setting a 12-month target price of HK$19.7 derived from a return on equity valuation model. Goldman Sachs recently met with the management and investor relations teams of both PICC GROUP and P&C Insurance Company of China during its Asia Financial Corporate Day. Regarding the property and casualty insurance business, the company reaffirmed its focus on improving the cost efficiency of its non-auto insurance segment and anticipates a further improvement in the underwriting environment for new energy vehicle insurance. The sales performance for the life insurance sector's peak season has so far met the company's expectations, and management believes that an increased contribution from products with longer payment periods could potentially lead to margin expansion. On the topic of dividends, PICC GROUP's long-term objective is to provide shareholders with sustainable growth in dividends per share, and it stated that the dividend payout ratio will be a key consideration.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1166922762?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-01-20 10:06","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1166922762","market":"nz","top_or_hot":-1,"title":"Goldman Sachs: PICC Group (01339) Aims for Sustainable Dividend Growth, Sets HK$6.8 Target Price","media":"Stock News","content":"<p>Goldman Sachs released a research report maintaining a \"Neutral\" rating on PICC GROUP's (01339) H-shares and a \"Sell\" rating on its (601319.SH) A-shares, with 12-month target prices of HK$6.8 and RMB 6.5, respectively, based on a sum-of-the-parts valuation. The bank assigned a \"Buy\" rating to P&C Insurance Company of China (02328), setting a 12-month target price of HK$19.7 derived from a return on equity valuation model. Goldman Sachs recently met with the management and investor relations teams of both PICC GROUP and P&C Insurance Company of China during its Asia Financial Corporate Day. Regarding the property and casualty insurance business, the company reaffirmed its focus on improving the cost efficiency of its non-auto insurance segment and anticipates a further improvement in the underwriting environment for new energy vehicle insurance. The sales performance for the life insurance sector's peak season has so far met the company's expectations, and management believes that an increased contribution from products with longer payment periods could potentially lead to margin expansion. On the topic of dividends, PICC GROUP's long-term objective is to provide shareholders with sustainable growth in dividends per share, and it stated that the dividend payout ratio will be a key consideration.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs: PICC Group (01339) Aims for Sustainable Dividend Growth, Sets HK$6.8 Target Price</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs: PICC Group (01339) Aims for Sustainable Dividend Growth, Sets HK$6.8 Target Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-01-20 10:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Goldman Sachs released a research report maintaining a \"Neutral\" rating on PICC GROUP's (01339) H-shares and a \"Sell\" rating on its (601319.SH) A-shares, with 12-month target prices of HK$6.8 and RMB 6.5, respectively, based on a sum-of-the-parts valuation. The bank assigned a \"Buy\" rating to P&C Insurance Company of China (02328), setting a 12-month target price of HK$19.7 derived from a return on equity valuation model. Goldman Sachs recently met with the management and investor relations teams of both PICC GROUP and P&C Insurance Company of China during its Asia Financial Corporate Day. Regarding the property and casualty insurance business, the company reaffirmed its focus on improving the cost efficiency of its non-auto insurance segment and anticipates a further improvement in the underwriting environment for new energy vehicle insurance. The sales performance for the life insurance sector's peak season has so far met the company's expectations, and management believes that an increased contribution from products with longer payment periods could potentially lead to margin expansion. On the topic of dividends, PICC GROUP's long-term objective is to provide shareholders with sustainable growth in dividends per share, and it stated that the dividend payout ratio will be a key consideration.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2097828474.EUR","symbol_name":"AZ EQUITY CHINA \"A\" (EUR) ACC A","start_time":0,"source_url":"","article_id":"1166922762","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166922762","pubTimestamp":1768874781,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Goldman Sachs released a research report maintaining a \"Neutral\" rating on PICC GROUP's (01339) H-shares and a \"Sell\" rating on its (601319.SH) A-shares, with 12-month target prices of HK$6.8 and RMB...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","IE00B19Z5X02.USD":"Legg Mason QS - MV Asia Pacific ex Japan Equity Growth and Income A Acc USD","LU1634259557.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD-H","BK1550":"内险股","BK1521":"挪威政府全球养老基金持仓","LU1522347837.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC A","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU1497734951.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD-H","IE00BQJZWZ67.USD":"FRANKLIN MV ASIA PACIFIC EX JAPAN EQUITY GROWTH AND INCOME \"A\" (USD) INC (M) PLUS","02328":"中国财险","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","01339":"中国人民保险集团","LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","IE00BWDBJ730.SGD":"Legg Mason QS - MV Asia Pacific ex Japan Equity Growth and Income A Mdis SGD-H Plus","LU1634259391.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","BK1127":"财产与意外伤害保险","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU1675838814.USD":"AB SICAV I - EMERGING MARKETS LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU1497733631.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD","LU0052750758.USD":"富兰克林中国基金A Acc","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU1224444064.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AM\" (USDHDG) INC"},"translate_title":"高盛：人保集团(01339)以股息可持续增长为目标，目标价6.8港元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01339":1,"02328":1},"content_text":"Goldman Sachs released a research report maintaining a \"Neutral\" rating on PICC GROUP's (01339) H-shares and a \"Sell\" rating on its (601319.SH) A-shares, with 12-month target prices of HK$6.8 and RMB 6.5, respectively, based on a sum-of-the-parts valuation. The bank assigned a \"Buy\" rating to P&C Insurance Company of China (02328), setting a 12-month target price of HK$19.7 derived from a return on equity valuation model. Goldman Sachs recently met with the management and investor relations teams of both PICC GROUP and P&C Insurance Company of China during its Asia Financial Corporate Day. Regarding the property and casualty insurance business, the company reaffirmed its focus on improving the cost efficiency of its non-auto insurance segment and anticipates a further improvement in the underwriting environment for new energy vehicle insurance. The sales performance for the life insurance sector's peak season has so far met the company's expectations, and management believes that an increased contribution from products with longer payment periods could potentially lead to margin expansion. On the topic of dividends, PICC GROUP's long-term objective is to provide shareholders with sustainable growth in dividends per share, and it stated that the dividend payout ratio will be a key consideration.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1166922762","isCrawlerRequest":true}