Citi, Jefferies trim PT for QBE Insurance on softer premium growth in third quarter

** Brokerage Citi cuts price target on Australia's QBE Insurance QBE to A$23.70, retains "buy" rating

** QBE, Australia's largest insurer by market value, on Thursday signalled a softer premium rate growth in its third-quarter update

** Moderating premium rate growth and a higher combined operating ratio, stripping out favourable catastrophe and prior-year development, seem to be the main cause - Citi

** Analysts at Jefferies trim price target to A$23.75 from A$24.55; maintain "buy" rating

** While QBE faces certain headwinds related to competitive dynamics, we believe the company has levers to adjust costs while directing capital at segments - Jefferies

** Eight of 12 analysts rate the stock "buy" or higher, three "hold" and one "sell" or lower; their median PT is A$23.50, according to data compiled by LSEG

** Stock has fallen 0.8% this year, as of last close