投资银行业与经纪业行业周报:估值具备性价比 建议关注板块优质龙头

长江证券
Sep 14, 2025

核心观点1)近期公募费改三阶段落地,推动行业高质量发展。券商中报业绩延续高增,市场热度维持高位,估值方面仍具备性价比,建议关注板块龙头及绩优个股;保险方面,整体来看印证了存款搬家、增配权益和新单成本改善逻辑,中长期ROE 改善确定性进一步提升,估值有望加速修复。2)从盈利和分红的稳定性维度出发,我们持续推荐盈利增速和分红率稳定的江苏金租,分红稳定且股息率维持高位的中国平安,以及商业模式和市场地位均...

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