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Protector Forsikring

DB:PR4
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PR4
DB
NOK4B
Market Cap
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Last updated 2019/07/16 22:30
Company description

Protector Forsikring ASA, a general insurance company, provides various insurance products to the commercial and public sectors, and the affinity insurance markets in Norway, Sweden, Denmark, the United Kingdom, and Finland. The last earnings update was 82 days ago. More info.

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  • Protector Forsikring has significant price volatility in the past 3 months.
PR4 Share Price and Events
7 Day Returns
-12.3%
DB:PR4
-0.7%
DE Insurance
-1%
DE Market
1 Year Returns
-
DB:PR4
20.9%
DE Insurance
-6.2%
DE Market
PR4 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Protector Forsikring (PR4) -12.3% -9.1% -23.9% - - -
DE Insurance -0.7% 3.8% 3.4% 20.9% 60.9% 63.3%
DE Market -1% 2.1% -1.8% -6.2% 10.4% 12.6%
1 Year Return vs Industry and Market
  • No trading data on PR4.
  • No trading data on PR4.
Price Volatility
PR4
Industry
5yr Volatility vs Market

Value

 Is Protector Forsikring undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Protector Forsikring to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Protector Forsikring.

DB:PR4 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NOK30.82 * 16.2% 		NOK5.00
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. NOK30.82
Discount Rate (Cost of Equity) See below 5.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:PR4
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 23%) (31.1%)) 		0.899
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.899 * 5.96%) 		5.59%

Discounted Cash Flow Calculation for DB:PR4 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Protector Forsikring is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:PR4 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (16.2% – 5.59%) * NOK30.82) 		NOK3.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK3.28 / (5.59% - 0.23%) 		NOK61.16
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK30.82 + NOK61.16 		NOK91.98
DB:PR4 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PR4 represents 0.10192x of OB:PROTCT
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.10192x
Value per Share
(Listing Adjusted, EUR)		 = Value per Share (NOK) x Listing Adjustment Factor
= NOK 91.98 x 0.10192 		€9.37
Value per share (EUR) From above. €9.37
Current discount Discount to share price of €4.98
= -1 x (€4.98 - €9.37) / €9.37 		46.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Protector Forsikring is available for.
Intrinsic value
47%
Share price is €4.98 vs Future cash flow value of €9.37
Current Discount Checks
For Protector Forsikring to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Protector Forsikring's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Protector Forsikring's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Protector Forsikring's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Protector Forsikring's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PR4 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in NOK NOK-0.18
OB:PROTCT Share Price ** OB (2019-07-16) in NOK NOK48.9
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.48x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 19.92x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Protector Forsikring.

DB:PR4 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:PROTCT Share Price ÷ EPS (both in NOK)

= 48.9 ÷ -0.18

 -275.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Protector Forsikring is loss making, we can't compare its value to the DE Insurance industry average.
  • Protector Forsikring is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Protector Forsikring's expected growth come at a high price?
Raw Data
DB:PR4 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -275.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts		 73.7%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.11x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Protector Forsikring, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Protector Forsikring's assets?
Raw Data
DB:PR4 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in NOK NOK25.89
OB:PROTCT Share Price * OB (2019-07-16) in NOK NOK48.9
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.08x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.75x
DB:PR4 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:PROTCT Share Price ÷ Book Value per Share (both in NOK)

= 48.9 ÷ 25.89

 1.89x

* Primary Listing of Protector Forsikring.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Protector Forsikring is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Protector Forsikring's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
    5. Protector Forsikring has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Protector Forsikring expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
73.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Protector Forsikring expected to grow at an attractive rate?
  • Protector Forsikring's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Protector Forsikring's earnings growth is expected to exceed the Germany market average.
  • Protector Forsikring's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PR4 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PR4 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 73.7%
DB:PR4 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 11.6%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:PR4 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PR4 Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,533 521 1
2020-12-31 4,317 402 1
2019-12-31 4,100 140 1
DB:PR4 Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-03-31 3,120 1,233 -15
2018-12-31 2,824 685 -21
2018-09-30 2,784 369 39
2018-06-30 2,788 258 233
2018-03-31 2,686 -129 307
2017-12-31 2,746 -641 374
2017-09-30 3,256 -198 411
2017-06-30 3,245 -400 429
2017-03-31 3,312 -351 506
2016-12-31 3,184 298 453
2016-09-30 3,096 -397 534
2016-06-30 2,784 -35 438

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Protector Forsikring's earnings are expected to grow significantly at over 20% yearly.
  • Protector Forsikring's revenue is expected to grow by 11.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PR4 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Protector Forsikring Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PR4 Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 6.38 7.59 5.17 2.00
2020-12-31 4.91 5.28 4.55 2.00
2019-12-31 1.71 2.06 1.36 2.00
DB:PR4 Past Financials Data
Date (Data in NOK Millions) EPS *
2019-03-31 -0.18
2018-12-31 -0.25
2018-09-30 0.45
2018-06-30 2.68
2018-03-31 3.53
2017-12-31 4.34
2017-09-30 4.77
2017-06-30 4.97
2017-03-31 5.89
2016-12-31 5.25
2016-09-30 6.11
2016-06-30 5.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Protector Forsikring is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Show me more growth companies in the Insurance industry
X
Future performance checks
We assess Protector Forsikring's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Protector Forsikring has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Protector Forsikring performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Protector Forsikring's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Protector Forsikring does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Protector Forsikring's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Protector Forsikring's 1-year growth to the DE Insurance industry average as it is not currently profitable.
Earnings and Revenue History
Protector Forsikring's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Protector Forsikring Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PR4 Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,119.88 -14.53 294.25
2018-12-31 2,823.58 -20.73 292.15
2018-09-30 2,784.02 38.64 260.44
2018-06-30 2,788.02 233.24 249.44
2018-03-31 2,686.42 307.44 231.44
2017-12-31 2,745.72 373.94 207.94
2017-09-30 3,256.23 411.48 225.64
2017-06-30 3,244.63 428.68 226.64
2017-03-31 3,311.73 505.88 200.94
2016-12-31 3,183.73 452.68 187.24
2016-09-30 3,095.63 533.74 208.06
2016-06-30 2,784.03 437.94 178.36
2016-03-31 2,452.23 292.94 181.56
2015-12-31 2,483.63 464.24 183.86
2015-09-30 2,262.97 416.77 169.48
2015-06-30 2,206.07 414.57 173.18
2015-03-31 2,169.27 467.87 160.88
2014-12-31 2,015.87 382.77 153.68
2014-09-30 1,983.95 373.97 155.03
2014-06-30 1,931.65 384.67 152.93
2014-03-31 1,742.05 307.97 145.83
2013-12-31 1,633.65 286.97 139.33
2013-09-30 1,539.72 166.79 134.52
2013-06-30 1,476.44 188.92 118.74
2013-03-31 1,402.18 166.78 109.64
2012-12-31 1,360.82 198.77 98.16
2012-09-30 1,300.35 286.94 46.37

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Protector Forsikring has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Protector Forsikring has efficiently used its assets last year compared to the DE Insurance industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Protector Forsikring improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Protector Forsikring's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Protector Forsikring has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Protector Forsikring's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Protector Forsikring's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Protector Forsikring's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Protector Forsikring's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Protector Forsikring's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Protector Forsikring Company Filings, last reported 3 months ago.

DB:PR4 Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,114.50 1,243.30 152.10
2018-12-31 2,033.07 1,243.29 7,862.56
2018-09-30 2,305.00 1,243.30 10,340.30
2018-06-30 2,622.20 1,243.30 10,671.40
2018-03-31 2,573.30 1,243.30 10,454.60
2017-12-31 2,591.26 1,243.29 8,186.33
2017-09-30 2,433.30 1,243.30 9,566.40
2017-06-30 2,317.20 1,241.40 9,495.00
2017-03-31 2,345.60 1,395.90 9,444.50
2016-12-31 2,268.20 645.88 7,743.83
2016-09-30 2,184.90 645.90 7,695.00
2016-06-30 2,051.30 648.10 7,645.90
2016-03-31 2,022.50 148.10 7,235.30
2015-12-31 2,012.73 148.13 6,508.20
2015-09-30 1,364.50 148.10 6,314.90
2015-06-30 1,334.80 148.10 6,232.40
2015-03-31 1,133.00 148.10 6,069.20
2014-12-31 991.43 148.13 5,100.26
2014-09-30 903.70 148.10 4,972.90
2014-06-30 860.30 148.10 4,925.00
2014-03-31 875.50 148.10 4,888.00
2013-12-31 777.18 148.13 4,147.16
2013-09-30 683.35 148.13 4,035.54
2013-06-30 624.92 148.13 3,905.32
2013-03-31 666.38 148.13 3,911.07
2012-12-31 583.65 148.13 3,329.69
2012-09-30 609.60 148.13 3,326.85
  • Protector Forsikring's level of debt (58.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (16.9% vs 58.8% today).
  • Debt is well covered by operating cash flow (99.2%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Protector Forsikring's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Protector Forsikring's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Protector Forsikring has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Protector Forsikring's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Protector Forsikring dividends. Estimated to be 1.02% next year.
If you bought €2,000 of Protector Forsikring shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Protector Forsikring's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Protector Forsikring's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:PR4 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:PR4 Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.00 1.00
2020-12-31 0.50 1.00
2019-12-31 0.00 1.00
DB:PR4 Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-01-31 0.000 0.000
2018-10-25 0.000 0.000
2018-07-12 0.000 0.000
2018-04-27 0.000 0.000
2018-04-26 0.000 0.000
2017-08-21 0.000 0.000
2017-04-20 2.250 3.069
2016-03-18 2.250 3.074
2015-03-27 2.000 2.962
2015-02-12 2.000 3.478
2014-03-14 1.750 4.836
2013-03-08 1.200 6.421
2012-11-01 0.000 0.000
2012-10-31 0.000 0.000
2012-07-13 0.000 0.000
2012-05-07 0.000 0.000
2012-02-29 0.000 0.000
2011-03-17 1.500 12.717
2010-10-28 1.000 8.571
2010-03-01 1.250 12.508
2010-02-24 1.250 11.128
2009-03-18 0.350 4.913
2009-01-09 0.350 7.137

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Protector Forsikring has not reported any payouts.
  • Unable to verify if Protector Forsikring's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Protector Forsikring's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Protector Forsikring has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (8.5x coverage).
X
Income/ dividend checks
We assess Protector Forsikring's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Protector Forsikring afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Protector Forsikring has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Protector Forsikring's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sverre Bjerkeli
COMPENSATION NOK11,531,000
AGE 59
TENURE AS CEO 13.5 years
CEO Bio

Mr. Sverre Bjerkeli has been the Chief Executive Officer of Protector Forsikring ASA since 2006. Mr. Bjerkeli joined Protector since 2004. He served position as Chief Executive Officer in Torrino and Ementor Norge. He has 15 years of experience from the finance and insurance industry. Mr. Bjerkeli served as an Executive Manager of Storebrand, Bank, he was centrally responsible for establishing it. Mr. Bjerkeli served as a Director of Private and small business in Storebrand/If. He attended BI Norwegian Business School (1981 – 1984).

CEO Compensation
  • Sverre's compensation has increased whilst company is loss making.
  • Sverre's remuneration is higher than average for companies of similar size in Germany.
Management Team

Sverre Bjerkeli

TITLE
Chief Executive Officer
COMPENSATION
NOK12M
AGE
59
TENURE
13.5 yrs

Ditlev de Vibe Vanay

TITLE
Chief Financial Officer
COMPENSATION
NOK4M
AGE
52

Dag Nereng

TITLE
Chief Investment Officer - Equities
AGE
47

Trond Høye

TITLE
Chief Technology Officer and Insurance Director
COMPENSATION
NOK2M
AGE
63

Erik Sand

TITLE
Director of Business Development
AGE
50
TENURE
2.8 yrs

Leonard Bijl

TITLE
IT Director
Board of Directors Tenure

Average tenure and age of the Protector Forsikring board of directors in years:

5.5
Average Tenure
56
Average Age
  • The tenure for the Protector Forsikring board of directors is about average.
Board of Directors

Jostein Sørvoll

TITLE
Chairman of the Board
AGE
69

Erik Braathen

TITLE
Deputy Chairman of the Board
AGE
63

Anders Lenborg

TITLE
Deputy Chairman
COMPENSATION
NOK90K
AGE
50

Randi Røed

TITLE
Director
AGE
56
TENURE
5.5 yrs

Else Fougner

TITLE
Director
AGE
74
TENURE
8.5 yrs

Jørgen Stenshagen

TITLE
Director
AGE
42
TENURE
5.5 yrs

Line Engelmann-Kokkim

TITLE
Director
TENURE
1.3 yrs

Mathews Ambalathil

TITLE
Director

Adele Bugge Pran

TITLE
Director
AGE
49

Alexander Amsrud

TITLE
Deputy Board member
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Protector Forsikring individual insiders in the past 3 months, but not in substantial volumes.
Show me more companies with insider buying in the Insurance industry
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Jul 19 Buy Dag Nereng Individual 12. Jul 19 12. Jul 19 2,000 €5.07 €10,144
01. Feb 19 Buy Dag Nereng Individual 01. Feb 19 01. Feb 19 3,000 €4.85 €14,562
12. Nov 18 Buy Lars Rambol Individual 12. Nov 18 12. Nov 18 3,300 €4.78 €15,767
10. Nov 18 Buy Lars Rambol Individual 09. Nov 18 09. Nov 18 200 €4.71 €942
14. Aug 18 Buy Lars Rambol Individual 14. Aug 18 14. Aug 18 2,500 €6.14 €15,361
13. Aug 18 Buy Torstein Tonnesen Individual 13. Aug 18 13. Aug 18 1,000 €6.10 €6,095
02. Aug 18 Buy Stenshagen Invest AS Company 02. Aug 18 02. Aug 18 25,288 €6.28 €158,763
01. Aug 18 Buy Stenshagen Invest AS Company 01. Aug 18 01. Aug 18 47,250 €0.96 €45,495
31. Jul 18 Buy Stenshagen Invest AS Company 31. Jul 18 31. Jul 18 393,719 €6.43 €2,532,574
30. Jul 18 Buy Thomas Boutrup Individual 30. Jul 18 30. Jul 18 5,000 €6.20 €31,024
26. Jul 18 Buy Hans Didring Individual 25. Jul 18 25. Jul 18 16,000 €5.79 €91,176
25. Jul 18 Buy Stenshagen Invest AS Company 25. Jul 18 25. Jul 18 216,876 €5.75 €1,246,423
X
Management checks
We assess Protector Forsikring's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Protector Forsikring has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Protector Forsikring ASA, a general insurance company, provides various insurance products to the commercial and public sectors, and the affinity insurance markets in Norway, Sweden, Denmark, the United Kingdom, and Finland. It also offers change of ownership insurance. The company sells its products to non-marine industries through insurance brokers, and real estate agents and lawyers. Protector Forsikring ASA was founded in 2003 and is based in Oslo, Norway.

Details
Name: Protector Forsikring ASA
PR4
Exchange: DB
Founded: 2003
NOK416,936,593
81,761,926
Website: http://www.protectorforsikring.no
Address: Protector Forsikring ASA
Støperigata 2,
Oslo,
Oslo, 0113,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB PROTCT A Shares Oslo Bors NO NOK 18. Jul 2006
OTCPK PSKR.F A Shares Pink Sheets LLC US USD 18. Jul 2006
DB PR4 A Shares Deutsche Boerse AG DE EUR 18. Jul 2006
LSE 0JXF A Shares London Stock Exchange GB NOK 18. Jul 2006
BATS-CHIXE PROTCo A Shares BATS 'Chi-X Europe' GB NOK 18. Jul 2006
Number of employees
Current staff
Staff numbers
356
Protector Forsikring employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 22:30
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.

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