Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

Samsung Fire & Marine Insurance / Equity Bottom-Up

Samsung Fire & Marine Insurance (000810 KS)

<ul>
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Context: The price ratio of <a href="https://www.smartkarma.com/entities/samsung-fire-marine-insurance" target="_blank" data-smartkarma-citation="entities:511:1" rel="noopener">Samsung Fire &amp; Marine Insurance Commons Shares (000810 KS)</a> vs. <a href="https://www.smartkarma.com/entities/samsung-fire-marine-insuranc" target="_blank" data-smartkarma-citation="entities:27499:1" rel="noopener">Preferred Shares (000815 KS)</a> has deviated more than three standard deviations from its one-year average.</li>
<li>
Highlights: Overweight the Common Shares and underweight the Preferred Shares has the potential for approximately 6% alpha.</li>
<li>
Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.</li>
</ul>



Context: The price ratio of Samsung Fire &amp; Marine Insurance Commons Shares (000810 KS) vs. Preferred Shares (000815 KS) has deviated more than three standard deviations from its one-year average.

Highlights: Overweight the Common Shares and underweight the Preferred Shares has the potential for approximately 6% alpha.

Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.


Samsung Fire & Marine (000810 KS) Vs. Samsung F&M Pref (000815 KS): Rare Share-Class Dislocation

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

<ul><li>Dividend yield falls into the 3% rangeMaintain Hold; raise TP to W600,000 We raise our target price on Samsung Fire &amp; Marine (Samsung F&amp;M) to W600,000 (from W480,000)</li><li>Our revised target price corresponds to a dividend yield of 3</li><li>5% (based on our 2026F DPS of W21,000) and a 2026F P/B of 1</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dividend yield falls into the 3% rangeMaintain Hold; raise TP to W600,000 We raise our target price on Samsung Fire &amp; Marine (Samsung F&amp;M) to W600,000 (from W480,000)Our revised target price corresponds to a dividend yield of 35% (based on our 2026F DPS of W21,000) and a 2026F P/B of 1Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Fire & Marine (000810 KS/Hold)Dividend Yield Falls into the 3% Range

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>KKR and Weave Court are looking for buyers for apartments located in Seoul, South Korea.</li><li>Korea's National Pension Service has invested $211 million in Gaw Capital for an office tower.</li><li>Anthropic plans to expand with 5GW of data centers in Australia, reflecting APAC real estate growth.</li></ul>

KKR and Weave Court are looking for buyers for apartments located in Seoul, South Korea.Korea's National Pension Service has invested $211 million in Gaw Capital for an office tower.Anthropic plans to expand with 5GW of data centers in Australia, reflecting APAC real estate growth.

Asia Real Estate Tracker (27-Aug-2026): KKR, Weave Court seek Seoul apartment buyers.

<ul><li>We raise our target price on Samsung Fire &amp; Marine (Samsung F&amp;M) to W480,000 (from W473,000), which we derived by applying a P/B of 1.0x to our 2026F BPS.</li><li>Our target multiple reflects expectations for steady dividend payout ratio increases toward the company’s 50% target.</li><li>That said, with our target price implying slight downside (-4%), we maintain our Hold rating.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We raise our target price on Samsung Fire &amp; Marine (Samsung F&amp;M) to W480,000 (from W473,000), which we derived by applying a P/B of 1.0x to our 2026F BPS.Our target multiple reflects expectations for steady dividend payout ratio increases toward the company’s 50% target.That said, with our target price implying slight downside (-4%), we maintain our Hold rating.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Fire & Marine (000810 KS/Hold)Payout Ratio to Keep Trending Higher

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Samsung Fire & Marine Insurance / Event-Driven

<ul>
<li>Dividend tax reform hits calendar: Assembly’s Strategy &amp; Finance Committee starts hearings Nov 13; street buzzing as assembly headlines will push dividend theme.</li>
<li>Ruling party resists 25% payout threshold; cutting that low kills dividend incentive, while keeping 40% pushes corporates in 20–40% band to hike payouts.</li>
<li>From Thursday, dividend momentum likely drives locals into &gt;4% yielders with &gt;40% payout, so these names should be our near‑term targets.</li>
</ul>


Dividend tax reform hits calendar: Assembly’s Strategy &amp; Finance Committee starts hearings Nov 13; street buzzing as assembly headlines will push dividend theme.
Ruling party resists 25% payout threshold; cutting that low kills dividend incentive, while keeping 40% pushes corporates in 20–40% band to hike payouts.
From Thursday, dividend momentum likely drives locals into &gt;4% yielders with &gt;40% payout, so these names should be our near‑term targets.


Key Schedule for Korea’s Dividend Policy Momentum: This Thursday – Short‑term Target Group Screened

South Korea

Samsung Fire & Marine Insurance Co., Ltd. provides insurance services. The Company offers auto, fire, marine, casualty, health, leisure, and retirement products and services. Samsung Fire & Marine Insurance serves customers in South Korea.

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Samsung Fire & Marine Insurance (000810 KS)

Samsung Fire & Marine (000810 KS/Hold)Dividend Yield Falls into the 3% Range

Dividend yield falls into the 3% rangeMaintain Hold; raise TP to W600,000 We raise our target price on Samsung Fire & Marine (Samsung F&M) to...

Mirae Asset Securities

Asia Real Estate Tracker (27-Aug-2026): KKR, Weave Court seek Seoul apartment buyers.

KKR and Weave Court seek Seoul apartment buyers, NPS invests $211M in Gaw Capital for an office tower, and Anthropic plans 5GW of data centers in...

Asia Real Estate Tracker

Key Schedule for Korea’s Dividend Policy Momentum: This Thursday – Short‑term Target Group Screened

This post flags the short‑term target group in focus ahead of Thursday’s key schedule for Korea’s dividend policy momentum.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Samsung Fire & Marine (000810 KS) Vs. Samsung F&M Pref (000815 KS): Rare Share-Class Dislocation

A 3.5-sigma divergence between Samsung Fire & Marine’s common and preferred shares signals a potential mean-reversion opportunity, with a trade...

Gaudenz Schneider

Samsung Fire & Marine (000810 KS/Hold)Dividend Yield Falls into the 3% Range

Dividend yield falls into the 3% rangeMaintain Hold; raise TP to W600,000 We raise our target price on Samsung Fire & Marine (Samsung F&M) to...

Mirae Asset Securities

Asia Real Estate Tracker (27-Aug-2026): KKR, Weave Court seek Seoul apartment buyers.

KKR and Weave Court seek Seoul apartment buyers, NPS invests $211M in Gaw Capital for an office tower, and Anthropic plans 5GW of data centers in...

Asia Real Estate Tracker

Samsung Fire & Marine (000810 KS/Hold)Payout Ratio to Keep Trending Higher

We raise our target price on Samsung Fire & Marine (Samsung F&M) to W480,000 (from W473,000), which we derived by applying a P/B of 1.0x to our...

Mirae Asset Securities

Key Schedule for Korea’s Dividend Policy Momentum: This Thursday – Short‑term Target Group Screened

This post flags the short‑term target group in focus ahead of Thursday’s key schedule for Korea’s dividend policy momentum.

Sanghyun Park