Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Moderate growth potential and slightly overvalued.
Share Price & News
How has Protector Forsikring's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PR4's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-1.4%
PR4
-1.1%
DE Insurance
-0.2%
DE Market
1 Year Return
-26.1%
PR4
25.8%
DE Insurance
13.7%
DE Market
Return vs Industry: PR4 underperformed the German Insurance industry which returned 25.8% over the past year.
Return vs Market: PR4 underperformed the German Market which returned 13.7% over the past year.
Shareholder returns
| PR4 | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.4% | -1.1% | -0.2% |
| 30 Day | -28.2% | 3.4% | 0.3% |
| 90 Day | -15.6% | 6.8% | 3.7% |
| 1 Year | -26.1%-26.1% | 31.3%25.8% | 17.2%13.7% |
| 3 Year | n/a | 64.4%44.5% | 15.4%5.3% |
| 5 Year | n/a | 98.0%58.5% | 21.3%4.7% |
Price Volatility Vs. Market
How volatile is Protector Forsikring's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Protector Forsikring undervalued compared to its fair value and its price relative to the market?
45.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PR4 (€3.9) is trading below our estimate of fair value (€7.13)
Significantly Below Fair Value: PR4 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PR4 is unprofitable, so we can't compare its PE Ratio to the Insurance industry average.
PE vs Market: PR4 is unprofitable, so we can't compare its PE Ratio to the German market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PR4's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PR4 is overvalued based on its PB Ratio (1.6x) compared to the DE Insurance industry average (1.2x).
Next Steps
Future Growth
How is Protector Forsikring forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
55.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PR4 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.4%).
Earnings vs Market: PR4 is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: PR4's is expected to become profitable in the next 3 years.
Revenue vs Market: PR4's revenue (3.9% per year) is forecast to grow slower than the German market (5% per year).
High Growth Revenue: PR4's revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PR4's Return on Equity is forecast to be low in 3 years time (18.1%).
Next Steps
Past Performance
How has Protector Forsikring performed over the past 5 years?
-38.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PR4 is currently unprofitable.
Growing Profit Margin: PR4 is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: PR4 is unprofitable, and losses have increased over the past 5 years at a rate of -38.5% per year.
Accelerating Growth: Unable to compare PR4's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PR4 is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (7.8%).
Return on Equity
High ROE: PR4 has a negative Return on Equity (-3.76%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Protector Forsikring'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: PR4 has a low level of unsold assets or inventory.
Debt Coverage by Assets: PR4's debt is covered by short term assets (assets are 4.5x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: PR4 has been profitable on average in the past, therefore cash runway is not a concern.
Forecast Cash Runway: PR4 has been profitable on average in the past, therefore cash runway is not a concern.
Financial Institutions Analysis
Asset Level: PR4's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if PR4 has a sufficient allowance for bad loans.
Low Risk Liabilities: PR4 reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if PR4 has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PR4 has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if PR4 has an appropriate level of bad loans.
Next Steps
Dividend
What is Protector Forsikring's current dividend yield, its reliability and sustainability?
2.09%
Forecast Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate PR4's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate PR4's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if PR4's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if PR4's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: PR4 is not paying a notable dividend for the German market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of PR4's dividend in 3 years as they are not forecast to pay a notable one for the German market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.4yrs
Average management tenure
CEO
Sverre Bjerkeli (59yo)
14.1yrs
Tenure
kr11,531,000
Compensation
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 Ement ...
CEO Compensation Analysis
Compensation vs Market: Sverre's total compensation ($USD1.24M) is above average for companies of similar size in the German market ($USD792.68K).
Compensation vs Earnings: Sverre's compensation has increased whilst the company is unprofitable.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer | 14.1yrs | kr11.53m | 3.9% NOK12.5m | |
| Chief Financial Officer | 1.1yrs | kr3.77m | no data | |
| Chief Investment Officer - Equities | 0yrs | no data | 0.13% NOK407.1k | |
| Chief Technology Officer and Insurance Director | 0yrs | kr2.33m | no data | |
| Director of Business Development | 3.4yrs | no data | no data | |
| IT Director | 0yrs | no data | no data | |
| Executive Assistant & IR | 0yrs | no data | 0.013% NOK42.3k |
3.4yrs
Average Tenure
52yo
Average Age
Experienced Management: PR4's management team is considered experienced (3.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 9.1yrs | no data | no data | |
| Independent Director | 6.1yrs | no data | no data | |
| Chairman of the Board | 0yrs | no data | no data | |
| Deputy Chairman | 0yrs | kr90.00k | no data | |
| Deputy Board member | 0yrs | no data | no data | |
| Independent Director | 6.1yrs | no data | no data | |
| Director | 1.9yrs | no data | 0.00086% NOK2.8k | |
| Director | 0yrs | no data | no data | |
| Independent Director | 0yrs | no data | no data |
6.1yrs
Average Tenure
53yo
Average Age
Experienced Board: PR4's board of directors are considered experienced (6.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PR4 insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Protector Forsikring ASA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Protector Forsikring ASA
- Ticker: PR4
- Exchange: DB
- Founded: 2003
- Industry: Multi-line Insurance
- Sector: Insurance
- Market Cap: kr3.238b
- Listing Market Cap: kr321.572m
- Shares outstanding: 81.76m
- Website: https://www.protectorforsikring.no
Number of Employees
Location
- Protector Forsikring ASA
- Støperigata 2
- Oslo
- Oslo
- 113
- Norway
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PROTCT | OB (Oslo Bors) | Yes | A Shares | NO | NOK | Jul 2006 |
| 0JXF | LSE (London Stock Exchange) | Yes | A Shares | GB | NOK | Jul 2006 |
| PROTCo | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | A Shares | GB | NOK | Jul 2006 |
| PSKR.F | OTCPK (Pink Sheets LLC) | Yes | A Shares | US | USD | Jul 2006 |
| PR4 | DB (Deutsche Boerse AG) | Yes | A Shares | DE | EUR | Jul 2006 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/20 23:16 |
| End of Day Share Price | 2020/02/20 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.