XTRA:NBG6

Stock Analysis Report

NÜRNBERGER Beteiligungs-AG

Executive Summary

NÜRNBERGER Beteiligungs-AG operates as an insurance company in Germany.

Snowflake

Fundamentals

Established dividend payer and good value.

Share Price & News

How has NÜRNBERGER Beteiligungs-AG's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

NBG6

3.9%

DE Insurance

4.4%

DE Market


1 Year Return

1.5%

NBG6

23.1%

DE Insurance

1.6%

DE Market

Return vs Industry: NBG6 underperformed the German Insurance industry which returned 23.1% over the past year.

Return vs Market: NBG6 matched the German Market which returned 1.6% over the past year.


Shareholder returns

NBG6IndustryMarket
7 Day0%3.9%4.4%
30 Day-1.4%2.9%0.8%
90 Day2.2%2.7%2.3%
1 Year5.9%1.5%28.5%23.1%4.8%1.6%
3 Year41.9%24.8%71.2%50.5%18.9%8.6%
5 Year17.3%-5.5%123.0%78.6%43.7%24.1%

Price Volatility Vs. Market

How volatile is NÜRNBERGER Beteiligungs-AG's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is NÜRNBERGER Beteiligungs-AG undervalued compared to its fair value and its price relative to the market?

35.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: NBG6 (€69) is trading below our estimate of fair value (€107.06)

Significantly Undervalued: NBG6 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NBG6 is good value based on its PE Ratio (13.5x) compared to the Insurance industry average (13.5x).

PE vs Market: NBG6 is good value based on its PE Ratio (13.5x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: NBG6 is poor value based on its PEG Ratio (3.6x)


Price to Book Ratio

PB vs Industry: NBG6 is good value based on its PB Ratio (1x) compared to the DE Insurance industry average (1.1x).


Next Steps

Future Growth

How is NÜRNBERGER Beteiligungs-AG forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NBG6's forecast earnings growth (3.8% per year) is above the savings rate (0.2%).

Earnings vs Market: NBG6's earnings (3.8% per year) are forecast to grow slower than the German market (12.6% per year).

High Growth Earnings: NBG6's earnings are forecast to grow, but not significantly.

Revenue vs Market: NBG6's revenue (0.3% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: NBG6's revenue (0.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if NBG6's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has NÜRNBERGER Beteiligungs-AG performed over the past 5 years?

-6.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NBG6's earnings have declined by -6.8% per year over the past 5 years.

Accelerating Growth: NBG6's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NBG6 had negative earnings growth (-24.1%) over the past year, making it difficult to compare to the Insurance industry average (15.2%).


Return on Equity

High ROE: NBG6's Return on Equity (7.3%) is considered low.


Return on Assets

ROA vs Industry: NBG6's Return on Assets is below or equal to the Insurance industry average last year.


Return on Capital Employed

ROCE Improving: NBG6's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is NÜRNBERGER Beteiligungs-AG's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: NBG6 has a low level of unsold assets or inventory.

Debt Coverage by Assets: NBG6's debt is covered by short term assets (assets are 30.496610x debt).


Financial Institutions Analysis

Asset Level: NBG6's level of assets compared to its equity is very high.

Allowance for Bad Loans: Insufficient data to determine if NBG6 has a sufficient allowance for bad loans.

Low Risk Liabilities: NBG6 reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if NBG6 has an acceptable proportion of non-loan assets held.

Low Risk Deposits: NBG6 has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if NBG6 has an appropriate level of bad loans.


Next Steps

Dividend

What is NÜRNBERGER Beteiligungs-AG's current dividend yield, its reliability and sustainability?

4.35%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%1.4%markettop25%3.8%industryaverage3.9%forecastin3Years4.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: NBG6's dividend (4.35%) is higher than the bottom 25% of dividend payers in the German market (1.45%).

High Dividend: NBG6's dividend (4.35%) is in the top 25% of dividend payers in the German market (3.85%)

Stable Dividend: NBG6's dividends per share have been stable in the past 10 years.

Growing Dividend: NBG6's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.8%), NBG6's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of NÜRNBERGER Beteiligungs-AG's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Armin Zitzmann (58yo)

6.8yrs

Tenure

€2,009,000

Compensation

Dr. Armin Zitzmann serves as Chairman of the Supervisory Board of the Nurnberger Allgemeine Versicherungs-AG and NÜRNBERGER Lebensversicherung AG. Dr. Zitzmann serves as the Chairman of Management Board at ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Armin's total compensation is reasonable compared to companies of similar size in the German market.

Compensation vs Earnings: Armin's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

2.8yrs

Average Tenure

Experienced Management: NBG6's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

1.5yrs

Average Tenure

Experienced Board: NBG6's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Armin Zitzmann (58yo)

    Chairman of the Management board

    • Tenure: 6.8yrs
    • Compensation: €2.01m
  • Walter Bockshecker

    Member of Management Board

    • Tenure: 15.5yrs
    • Compensation: €1.16m
  • Jürgen Voß

    Head of Capital Investments - Banking Business & Member of Management Board

    • Tenure: 2.8yrs
    • Compensation: €893.00k
  • Uwe Carr

    Investor Relations

    • Tenure: 0yrs
  • Martin Seibold

    Member of Management Board

    • Tenure: 1.8yrs
    • Compensation: €764.00k
  • Harald Rosenberger

    Member of Management Board

    • Tenure: 0.8yrs

Board Members

  • Wolf-Rüdiger Knocke

    Chairman of Supervisory Board

    • Tenure: 1.5yrs
    • Compensation: €882.00k
  • Dagmar Wöhrl (65yo)

    Supervisory Board Member

    • Tenure: 7.1yrs
  • Thomas Krummen

    Employee Representative Supervisory Board Member

    • Tenure: 6.5yrs
  • Peter Forster

    Employee Representative Supervisory Board Member

    • Tenure: 2.8yrs
  • Eva Amschler

    Supervisory Board Vice Chairman

    • Tenure: 2.7yrs
  • Axel Wrosch

    Employee Representative Supervisory Board Member

    • Tenure: 1.5yrs
  • Stefanie Schulze

    Employee Representative Supervisory Board Member

    • Tenure: 1.5yrs
  • Franz Kranzler

    Supervisory Board Member

    • Tenure: 1.5yrs
  • Holger Haas

    Supervisory Board Member

    • Tenure: 1.5yrs
  • Nadine Gatzert

    Supervisory Board Member

    • Tenure: 1.5yrs

Company Information

NÜRNBERGER Beteiligungs-AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: NÜRNBERGER Beteiligungs-AG
  • Ticker: NBG6
  • Exchange: XTRA
  • Founded: 1884
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: €793.004m
  • Shares outstanding: 11.49m
  • Website: https://www.nuernberger.de

Number of Employees


Location

  • NÜRNBERGER Beteiligungs-AG
  • Ostendstrasse 100
  • Nuremberg
  • Bavaria
  • 90334
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NBG6DB (Deutsche Boerse AG)YesSeries B Registered SharesDEEURJan 1992
NBG6XTRA (XETRA Trading Platform)YesSeries B Registered SharesDEEURJan 1992

Biography

NÜRNBERGER Beteiligungs-AG operates as an insurance company in Germany. The company offers car, motorcycle, oldtimerversicherung, long-term care, protection, life, and pension insurance products; personal, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 20:48
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.