Hannover Re Stock: Forecast for 2024 and All-Time High

Last Updated: 12. Dezember 2023By

The Hannover Rück stock has presented itself strongly in the current stock market year of 2023 and has now reached a new all-time high multiple times. After the price gains of the past weeks and the announced profit forecast for 2024, the stock was quoted at more than 224 euros (as of December 12th, approx. 12 pm).

This year has been going very well for the reinsurer – the latest nine-month figures in November also showed this. Hannover Rück is also very optimistic for the coming year 2024. The profit should increase significantly and the dividend is also expected to rise in the next 3 years. For investors, this is good news, although one should not exclude corrections after the rally of the past years.

Hannover Rück plans profit jump in 2023 and 2024 After 9 months of the current business year, Hannover Rück has presented strong figures. In addition to the equity return of 20 percent, the net profit of around 1.4 billion euros (plus 25 percent compared to the previous year) in particular can convince. For the full year, the reinsurer still expects a profit of at least 1.7 billion euros.

As part of the current capital market day, the DAX company has now given a profit forecast for 2024: In the coming year, the net result should increase to 2.1 billion euros, almost a quarter more than the target for the current year. Also interesting for investors: The dividend policy should be maintained in the coming years. This means that the dividend should be higher each year until 2026 and the EBIT should increase more than 5 percent each year.

Hannover Rück-Aktie: There is still more potential Solid profits in 2023 and a very optimistic outlook for 2024 have pushed the Hannover Rück-Aktie higher in recent months. Logically, the stock has repeatedly cracked its all-time high in recent weeks and is now more than 20 percent above the level of the beginning of January. Apart from some consolidations (such as the beginning of the Corona pandemic), the stock has almost exclusively seen one direction in recent years.

On the one hand, investors should therefore be cautious and not exclude possible corrections after the price rally – especially with reinsurers, individual large losses can turn the entire balance sheet upside down. On the other hand, the Hannover Rück-Aktie still offers further potential, as the medium-term planning until 2026 shows. The latest analysis is also optimistic: JPMorgan has confirmed its price target of 255 euros.