Jefferies cuts target for Gjensidige stock from NOK 311 to NOK 272

Published on 10/06/2026 at 12:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Gjensidige stock trades at EUR 23.21 on October 6, 2026 versus EUR 23.68, down 1.98 percent. Q2 insurance revenue rose 9.30 percent.

Gjensidige, NO0010582521, Illustration mit AI erstellt.

Jefferies cut its price target for Gjensidige stock from NOK 311 to NOK 272 and downgraded the rating from Buy to Hold on October 5, 2026, according to Markets Insider. The euro quote was EUR 23.21 at Lang & Schwarz on October 6, 2026 at 12:47 p.m. CEST, down 1.98 percent versus the prior close of EUR 23.68.

Jefferies sees slower pricing growth

Jefferies said its earlier Buy thesis relied on rising Norwegian insurance prices, while pricing is now decelerating. The revised NOK 272 target is NOK 39 below the former NOK 311 target, a cut of 12.54 percent.

The broker still expects earnings momentum from the delayed benefit of earlier price increases, but said that effect is already included in consensus earnings-per-share growth expectations. For investors, the downgrade shifts attention from headline premium growth to the durability of underwriting margins.

Q2 returns remain a counterweight

Gjensidige reported insurance revenue growth of 9.30 percent in the second quarter of 2026, with return on equity at 33.30 percent and solvency at 189.00 percent, according to Quartr. The same presentation cited Q2 profit after tax of NOK 2.245 billion and a combined ratio of 79.10 percent.

Those figures provide a measurable counterweight to the target cut. A 189.00 percent solvency ratio sits near the upper end of Gjensidige's stated 140.00 to 190.00 percent target range, while the 79.10 percent combined ratio points to profitable underwriting in the second quarter of 2026.

Q3 results set the next test

Gjensidige's Q3 2026 results are scheduled for October 23, 2026, according to Quartr. The pre-close summary said a Norwegian residential fire could affect Q3 claims by NOK 100.00 million, with reinsurance covering the event.

The next report will therefore test whether the 9.30 percent insurance revenue increase and 33.30 percent return on equity can persist while Norwegian pricing growth cools. The result may also clarify how much of the earlier pricing benefit remains to flow through earnings.

Gjensidige stock trades lower

At Lang & Schwarz, Gjensidige stock was trading at EUR 23.21 on October 6, 2026 at 12:47 p.m. CEST, down 1.98 percent against the Lang & Schwarz prior close of EUR 23.68 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Gjensidige stock.