-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：我们将目标价下调13美元至100美元，PRU股票的估值相当于我们2027年每股收益预期14.40美元（今日下调1.10美元）的6.9倍。同时，我们也下调了2026年每股收益预期1.40美元至13.10美元。此次每股收益预期下调反映了我们对PRU决定（昨晚宣布）将日本保诚集团的销售暂停期限再延长180天（至2026年11月5日）的影响的评估。此前，为应对员工不当行为，PRU已于2026年2月自愿暂停在日本的新业务销售90天。尽管我们赞赏PRU坦诚面对此事，但我们认为这是一个重大问题。日本是保诚集团的重要市场，其国际业务部门在2025年贡献了公司近一半的税前营业利润。我们认为这一发展消除了股价上涨的催化剂。尽管该股目前的市盈率仅为我们2026年每股收益预期值的6.8倍（而其一年期平均预期市盈率为7.4倍，同业平均市盈率为8.9倍），且股息收益率为5.7%，但我们目前不建议增持。
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Petro Rabigh Emerges From Loss in Q1; Revenue Grows
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Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.
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