Goldman Sachs upgrades Tryg and lifts target to DKK 158 for Tryg stock

Published on 10/18/2026 at 13:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Tryg's Q3 insurance result reached DKK 2.45 billion on October 9, 2026. Goldman Sachs moved Tryg stock from sell to neutral on October 12, 2026.

Tryg valuation and earnings

Goldman Sachs upgraded Tryg to neutral from sell and set a DKK 158.00 target on October 12, 2026.
Tryg's third-quarter insurance service result reached DKK 2.45 billion on October 9, 2026.
Tryg held a DKK 91.2 billion market capitalization as of October 16, 2026.

Trading-Floor mit großen Bildschirmen und ansteigenden Aktienkurven in Blau und Grün — Börsen-Editorial mit Trading-Floor und Charts symbolisiert die Notierung von Tryg A/S, ISIN DK0060636678, Illustration mit AI erstellt.

Tryg (ISIN DK0060636678) reported a third-quarter 2026 insurance service result of DKK 2.45 billion on October 9, 2026. Three days later, Investing.com reported that Goldman Sachs upgraded Tryg from sell to neutral and raised its 12-month price target from DKK 152.00 to DKK 158.00. The result and the rating change put underwriting quality ahead of revenue acceleration in the current investor debate.

What drove the Q3 result?

MFN.se reported that Tryg's Q3 combined ratio improved to 76.8 percent from 78.6 percent a year earlier. The insurance service result rose from DKK 2.181 billion in Q3 2025 to DKK 2.454 billion in Q3 2026, while profit before tax reached DKK 2.123 billion versus DKK 1.980 billion a year earlier.

The same October 9 report put insurance revenue growth at 4.1 percent in Danish kroner and 2.3 percent in local currencies. Tryg's solvency ratio stood at 203 percent at the end of Q3 2026, compared with 196 percent in the second quarter, and the ordinary dividend was DKK 2.15 per share versus DKK 2.05 a year earlier.

What supports the valuation case?

Goldman Sachs linked its neutral upgrade to improving customer retention and distribution partnerships, while identifying slower growth, autonomous vehicles and artificial intelligence disruption as valuation risks. The bank said underlying insurance revenue growth of 2.3 percent in Q3 2026 could mark a trough and expects improvement in 2027, according to Investing.com. The report also cited an estimated dividend yield of 6.3 percent.

Next dates for Tryg

MFN.se lists the annual results for January 22, 2027, and the annual meeting for March 31, 2027. The schedule gives investors two dated checkpoints after the Q3 release and the October 12 ex-dividend date.

Tryg market position

Tryg was last at DKK 153.10 on Nasdaq Copenhagen on October 16, 2026 at 4:59 p.m. CEST. Its market capitalization was DKK 91.2 billion, and its 52-week range was DKK 139.00 to DKK 166.80 on the same market-data snapshot.

The further course of trading is shown by the continuously updated real-time quote of Tryg stock.