HDFC Life Share Price Target 2024: Buy As The Company Announces Dividend? Check Q4 Results And Other Details (Image source: Today Technology Market ResearchDigital)
HDFC Life Share Price: HDFC life insurance company shares on NSE and BSE were down by nearly 3 per cent in the early trades at Rs 588 per share. on April 19 in the last trading, the company announced a Q4FY24 net profit of Rs 411 crore. and also appointed Keki M Mistry as the new chairman of the board, succeeding Deepak S Parekh. Moreover, HDFC Life declared a dividend of Rs 2 with an ex-date set for June 21.
As the company announced the dividend and positive financial results. Should investors buy? check share price target and brokerage recommendations on HDFC life share price target.
Religare On HDFC Life Share Price Target
Stock broker Religare has maintained a ‘BUY’ rating for the stock setting HDFC Life share price target at Rs 725 per share. The brokerage cited positive income growth of 5.7 per cent YoY, as the first-year premium and single premium reported a de-growth of 10 per cent YoY and 7 per cent YoY, respectively while renewal premium grew by 23% YoY. Owing to the de-growth in first-year premium and single premium Annualized Premium Equivalent (APE) during the quarter declined by 8.4% YoY to Rs 4,727c, while New Business Premium (NBP) declined by 8.1 per cent YoY to Rs 9,531 cr. Going forward, the management remains optimistic about the premium growth of the company as expects to grow in line with the industry.
Goldman Sachs On HDFC Life Share Price Target
Goldman Sachs maintained a Buy rating for HDFC Life but revised its target price to Rs 710 from Rs 770. The brokerage firm highlighted the Q4 performance, moderated guidance, and factors affecting the company’s growth and margins. Similarly, Citi retained its Buy rating but adjusted the target price to Rs 710 from Rs 720. It noted the company’s strong medium-term positioning amid near-term challenges.
JefferiesHDFC Life Share Price Target
Jefferies has revised its target price for HDFC Life from Rs 800 per share to Rs 750. Despite this adjustment, the brokerage anticipates growth to improve for HDFC Life beginning FY25. This optimistic outlook is based on the normalization of the base and the emergence of an uptick in agency and newer markets.
HDFC Life Share Price Performance History
As a constituent of the S&P BSE 100 index, HDFC Life’s shares experienced fluctuations in recent weeks and months. According to BSE analytics as of April 19, the stock declined by 2.53 per cent and 2.64 per cent in the last week and two weeks, respectively. Over the past month and three months, shares fell by 4.43 per cent and 0.35 per cent, respectively. Year-to-date, the shares were down by 6.53 per cent. However, over the past year and two years, the shares gained by 13.78 per cent and 5.47 per cent, respectively.
HDFC LifeDividend History
HDFC Life has a history of announcing dividends over the years. In June of last year, the company declared a dividend of Rs 1.9. In 2021 and 2022, dividends of Rs 2.02 and Rs 1.7 were declared with ex-dates on June 30 and May 31, respectively. In 2017 and 2019, dividends of Rs 1.36 and Rs 1.63 were announced in December and March, respectively.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
