April 20, 2024

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[THE INVESTOR] Samsung Life Insurance’s stake in Samsung Electronics has declined in value, said Korea Investment and Securities on Aug. 13, lowering the target price to 130,000 won (US$114.58) from 147,000 won.

The life insurer owns stake worth 23.1 trillion won and its corporate value keeps fluctuating, said analyst Yoon Tae-ho citing the recent stock price decline of the tech giant as reason for adjusting the target price. 

Samsung Life’s net profit this year will surge 64.9 percent from last year from selling its stake in Samsung Electronics but its annual year-end dividends will be lower than expected. It will include profits from the stake sale for paying dividends, but will prepare itself for introduction of K-ICS and IFRS17 first. Its dividend rate will be 20 percent this year, down from last year’s 29.4 percent, and accordingly dividend per share will be 2,060 won, lower than the estimated 3,040 won, he estimated. 

By Hwang You-mee (glamazon@heraldcorp.com)