TUGU Rebound Share Price 10 Percent In 5 Days, Had Touched IDR 860

JAKARTA - The share price of PT Asuransi Tugu Pratama Indonesia Tbk (TUGU) reached the level of Rp975 at the close of trading on Tuesday, April 16, or up 10.2 percent from the price at the close of trading on April 9, 2025, which amounted to Rp885. In fact, it had touched Rp860 on intraday trading.

TUGU shares closed in the green zone in 5 consecutive trading days and had touched the level of Rp990 in trading Monday, April 14. Within a week foreign investors still chose to collect these shares with a net foreign buy of Rp585 million.

Analyst Philip Sekuritas Edo Ardiansyah assessed that the trend of strengthening TUGU shares was influenced by several factors.

First, the plan to announce dividends at the General Meeting of Shareholders of the TUGU Year issuer on Tuesday, April 29, 2025. This issuer consistently distributes dividends with fairly attractive returns since the IPO in 2018.

The dividend payout ratio according to the IPO consensus is 30 percent and in the last 3 years it has always been 40 percent of the net profit. If this happens then the dividend yield will be attractive like in previous years. This plays a role in the Rally of TUGU shares in the last 4 days, beyond the factor that the issuer's valuation is quite cheap," explained Edo quoting Antara.

With a simple calculation, he continued, the potential dividend per TUGU share is in the range of Rp59.06 to Rp78.75 assuming a dividend payout ratio of 30-40 percent. Thus, yield dividends with a comparison of stock prices today are in the range of 6.12 percent to 8.16 percent.

The next factor is the potential for an increase in shares due to the book value (book value) of TUGU shares always rising every year. This is because around 60-70 percent of the profit will be held as capital.

"Asumsi bahwa saham TUGU tetap ditradasi pada 0,35x sampai 0,4x PBV (price to book value) maka harganya tahun depan akan naik dibandingkan per hari ini dan begitu pula tahun berikutnya. Apalagi 0,4x PBV itu masih relatif murah dan berpeluang naik ke 0,8x PBV hingga 1x PBV," ujarnya.

In an analyst consensus compiled by Bloomberg, TUGU shares are projected to reach IDR 1,410 to above IDR 2,435.

Edo added that investors in this issuer are dominated by institutions with a fairly long investment period. As a implication, daily transactions are quite sloping, but rebounds will occur quickly. The reason is, institutional investors tend to enter again for collections at lower prices if there is pressure as happened last week.

TUGU pun dianggap masuk dalam kategori saham defensive dalam volatility pasar akibat kebijakan Tarif Trump. Pasalnya perusahaan ini tidak melakukan ekspor termasuk ke Amerika Serikat.

Meanwhile, technical analyst Yazid Muammar assesses that in the short term the share price of TUGU will test the resistance level between Rp980 - Rp1,000 per share as a strong psychological level. TUGU also has the opportunity to test the next price level at Rp1,050 to Rp1,100 per share.

"Meanwhile, the closest support level is currently in the area of Rp900 - Rp880 per share. If the share price is able to stay above Rp950 in the next few days with an increasing volume, then the opportunity for further strengthening will be even more open," he said.

He advised investors who will trade TUGU shares in the short term to pay attention to the results of the GMS regarding dividends and financial performance announcements in the First Quarter of 2025.