Renta 4 raised target for Mapfre stock to EUR 4.59

Published on 10/13/2026 at 10:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mapfre earned EUR 624 million in the first half of 2026, up 9.40 percent year over year. Mapfre stock costs EUR 4.32 on October 13, 2026 versus EUR 4.28.

Renta 4 raised its Mapfre target from EUR 4.10 to EUR 4.59 on September 29, 2026.
Safety Insurance is expected to add more than 5 percent to group net income within three years.
Mapfre reported EUR 624 million in attributable result for the first half of 2026, up 9.40 percent year over year.
The stock was at EUR 4.32 at Lang & Schwarz on October 13, 2026, up 0.93 percent versus the October 12 Xetra close.

3D-Architekturvisualisierung eines Glashochhauses, assoziiert mit Mapfre S.A. (ES0124244E34) — Architektur-Render eines modernen Bürohochhauses veranschaulicht den Unternehmenssitz von Mapfre S.A., ISIN ES0124244E34, Illustration mit AI erstellt.

Mapfre (ISIN ES0124244E34) has a new EUR 4.59 price target from Renta 4, up from EUR 4.10, according to Bolsamania on September 29, 2026. The recommendation remained Hold, making the target revision more measured than a full rating upgrade.

Three dates frame the story

Mapfre reported a EUR 600 million subordinated-note tender offer on June 9, 2026. On July 23, 2026, Mapfre announced the USD 1.54 billion purchase of Safety Insurance, according to the Spain US Chamber of Commerce. On September 29, 2026, Bolsamania reported the Renta 4 target increase from EUR 4.10 to EUR 4.59.

What does Safety add?

The Safety transaction is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals, according to the Spain US Chamber of Commerce. The announcement said the deal could lift Mapfre net income by more than 5 percent within three years, while the Solvency II impact was expected at 10 percentage points. That combination explains why Renta 4 lifted its earnings estimates while keeping Hold.

Six-month figures sharpen valuation

Mapfre's first-half 2026 attributable result reached EUR 624 million, up 9.40 percent from the same period a year earlier, according to Mapfre. Premiums totaled EUR 16.127 billion, while the non-life combined ratio was 92.80 percent and return on equity was 12.50 percent. The Solvency II ratio stood at 208.80 percent at the end of the first half, giving the acquisition a measurable capital constraint rather than an unlimited expansion path.

Mapfre stock stays below its yearly high

Mapfre was trading at EUR 4.32 at Lang & Schwarz on October 13, 2026 at 10:30 a.m. CEST, up 0.93 percent versus the Xetra close of October 12, 2026 at EUR 4.28. The market capitalization was EUR 13.3 billion, and the 52-week range was EUR 3.52 to EUR 4.62 as of October 13, 2026, leaving the price 6.49 percent below the yearly high. The further course of trading is shown by the continuously updated real-time quote of Mapfre stock.