Helia Group among top losers on benchmark; Macquarie downgrades to 'underperform'

Helia

14/03/2025 02:40

Updates

** Shares of Australia's Helia Group HLI.AX fall 1.4% to A$5.54 to become one of the top losers in the benchmark index

** Mortgage insurance provider for lenders hits lowest level since February 25

** Macquarie downgrades Helia Group HLI.AX to "underperform" from "neutral" saying it is potentially overvalued; maintains price target at A$4.20/share

** Macquarie flags concerns over HLI's market price, being ~1.6x its net tangible assets, amid current favorable conditions of low unemployment and high property prices

** Brokerage doesn't expect the trend of negative claims and reserve releases, driven by strong property markets, to be sustainable

** All 3 analysts rate the stock "hold"; their median PT is A$4.80 – LSEG data

** Stock up 25.7% this year as of last trade

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))