Executive Summary
Tryg A/S, together with its subsidiaries, provides insurance products and services for private and corporate customers, and small and medium sized businesses in Denmark, the United Kingdom, the United States, and internationally.
Rewards
Risk Analysis
Dividend of 3.47% is not well covered by earnings or forecast to be in the next 3 years
Snowflake Analysis
Questionable track record with limited growth.
Similar Companies
Share Price & News
How has Tryg's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TRYG has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.8%
TRYG
0.9%
DK Insurance
1.7%
DK Market
1 Year Return
21.5%
TRYG
19.0%
DK Insurance
24.1%
DK Market
Return vs Industry: TRYG exceeded the Danish Insurance industry which returned 19% over the past year.
Return vs Market: TRYG underperformed the Danish Market which returned 24.1% over the past year.
Shareholder returns
| TRYG | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.8% | 0.9% | 1.7% |
| 30 Day | 4.8% | -0.6% | 2.8% |
| 90 Day | -1.2% | 4.3% | 10.1% |
| 1 Year | 25.8%21.5% | 26.7%19.0% | 27.8%24.1% |
| 3 Year | 86.3%53.5% | 38.6%18.2% | 58.4%44.9% |
| 5 Year | 91.3%42.6% | 68.2%29.1% | 88.0%61.9% |
Price Volatility Vs. Market
How volatile is Tryg's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Can Tryg A/S's (CPH:TRYG) ROE Continue To Surpass The Industry Average?2 months ago | Simply Wall St
Zooming in on CPH:TRYG's 3.5% Dividend Yield3 months ago | Simply Wall St
Should We Worry About Tryg A/S's (CPH:TRYG) P/E Ratio?Valuation
Is Tryg undervalued compared to its fair value and its price relative to the market?
15.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TRYG (DKK195.9) is trading below our estimate of fair value (DKK232.31)
Significantly Below Fair Value: TRYG is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: TRYG is poor value based on its PE Ratio (26.2x) compared to the Insurance industry average (12.3x).
PE vs Market: TRYG is poor value based on its PE Ratio (26.2x) compared to the Danish market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: TRYG is poor value based on its PEG Ratio (26.8x)
Price to Book Ratio
PB vs Industry: TRYG is overvalued based on its PB Ratio (5x) compared to the XE Insurance industry average (1.2x).
Next Steps
Future Growth
How is Tryg forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
1.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TRYG's forecast earnings growth (1% per year) is above the savings rate (-0.3%).
Earnings vs Market: TRYG's earnings (1% per year) are forecast to grow slower than the Danish market (12.3% per year).
High Growth Earnings: TRYG's earnings are forecast to grow, but not significantly.
Revenue vs Market: TRYG's revenue (2.8% per year) is forecast to grow slower than the Danish market (6.7% per year).
High Growth Revenue: TRYG's revenue (2.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TRYG's Return on Equity is forecast to be high in 3 years time (24.4%)
Next Steps
Past Performance
How has Tryg performed over the past 5 years?
-1.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TRYG has high quality earnings.
Growing Profit Margin: TRYG's current net profit margins (10.8%) are lower than last year (12.4%).
Past Earnings Growth Analysis
Earnings Trend: TRYG's earnings have declined by -1.4% per year over the past 5 years.
Accelerating Growth: TRYG's earnings growth over the past year (4.8%) exceeds its 5-year average (-1.4% per year).
Earnings vs Industry: TRYG earnings growth over the past year (4.8%) underperformed the Insurance industry 8.5%.
Return on Equity
High ROE: TRYG's Return on Equity (18.9%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Tryg'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: TRYG has a low level of unsold assets or inventory.
Debt Coverage by Assets: TRYG's debt is covered by short term assets (assets are 1.9x debt).
Financial Institutions Analysis
Asset Level: TRYG's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if TRYG has a sufficient allowance for bad loans.
Low Risk Liabilities: TRYG reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if TRYG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TRYG has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if TRYG has an appropriate level of bad loans.
Next Steps
Dividend
What is Tryg's current dividend yield, its reliability and sustainability?
3.47%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: TRYG's dividend (3.47%) is higher than the bottom 25% of dividend payers in the Danish market (1.5%).
High Dividend: TRYG's dividend (3.47%) is low compared to the top 25% of dividend payers in the Danish market (5.01%).
Stability and Growth of Payments
Stable Dividend: TRYG's dividend payments have been volatile in the past 10 years.
Growing Dividend: TRYG's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (90.4%), TRYG's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TRYG's dividends in 3 years are not forecast to be well covered by earnings (102.1% payout ratio).
Next Steps
Management
What is the CEO of Tryg's salary, the management and board of directors tenure and is there insider trading?
4.0yrs
Average management tenure
CEO
Morten Hübbe (47yo)
8.9yrs
Tenure
ø18,799,877
Compensation
Mr. Morten Hübbe serves as Vice Chairman of the Board at SimCorp A/S since March 27, 2019. He has been the Group Chief Executive Officer of TrygVesta A/S and Tryg A/S since Feburary 1, 2011 and has been it ...
CEO Compensation Analysis
Compensation vs Market: Morten's total compensation ($USD2.79M) is above average for companies of similar size in the Danish market ($USD2.13M).
Compensation vs Earnings: Morten's compensation has increased by more than 20% in the past year.
Management Age and Tenure
4.0yrs
Average Tenure
47.5yo
Average Age
Experienced Management: TRYG's management team is considered experienced (4 years average tenure).
Board Age and Tenure
7.8yrs
Average Tenure
60.5yo
Average Age
Experienced Board: TRYG's board of directors are considered experienced (7.8 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of Management Board Group COO & Member of Executive Board |
| Shares | 13,229 |
| Max Price | ø170.02 |
| Entity | Individual |
| Role | Member of Management Board Group Chief Commercial Officer & Member of Executive Board |
| Shares | 12,907 |
| Max Price | ø165.01 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Morten Hübbe (47yo)
Group CEO & Member of Executive Board
- Tenure: 8.9yrs
- Compensation: ø18.80m
Jens Galsgaard
Chief Internal Auditor
- Tenure: 0yrs
Lars Bonde (54yo)
Group COO & Member of Executive Board
- Tenure: 13.9yrs
- Compensation: ø9.69m
Linnéa Ecorcheville
Managing Director and Country Manager of Moderna Forsakringar
- Tenure: 4.1yrs
Gianandrea Roberti
Head of IR
- Tenure: 4.2yrs
Barbara Jensen (48yo)
Group CFO & Member of Executive Board
- Tenure: 0.8yrs
Jesper Joensen (56yo)
Group Executive Vice President of Claims and Senior Vice President of Corporate DK
- Tenure: 3.9yrs
Johan Brammer (43yo)
Group Chief Commercial Officer & Member of Executive Board
- Tenure: 1.9yrs
- Compensation: ø10.20m
Espen Stroemme (45yo)
Senior Vice President of Commercial for Norway
- Tenure: 3.9yrs
Tanja Frederiksen
Head of Communications
- Tenure: 0yrs
Board Members
Carl-Viggo Östlund (64yo)
Supervisory Board Member
- Tenure: 4.8yrs
- Compensation: ø600.00k
Lene Skole-Sørensen (60yo)
Supervisory Board Member
- Tenure: 9.9yrs
- Compensation: ø650.00k
Bodil Andersen (79yo)
Deputy Chairman of Insurance Group
- Tenure: 13.7yrs
- Compensation: ø237.64k
Mari Thjømøe (57yo)
Supervisory Board Member
- Tenure: 7.7yrs
- Compensation: ø650.00k
Tina Snejbjerg (57yo)
Employee Representative Supervisory Board Member
- Tenure: 9.9yrs
- Compensation: ø500.00k
Jukka Pertola (59yo)
Supervisory Board Chairman
- Tenure: 1.8yrs
- Compensation: ø1.32m
Torben Nielsen (72yo)
Supervisory Board Vice Chairman
- Tenure: 8.9yrs
- Compensation: ø1.16m
Lone Hansen (53yo)
Employee Representative Supervisory Board Member
- Tenure: 7.9yrs
- Compensation: ø500.00k
Ida Jensen (61yo)
Supervisory Board Member
- Tenure: 6.9yrs
- Compensation: ø600.00k
Tom Eileng (65yo)
Employee Representative Supervisory Board Member
- Tenure: 3.8yrs
- Compensation: ø460.00k
Company Information
Tryg A/S's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Tryg A/S
- Ticker: TRYG
- Exchange: CPSE
- Founded: 1731
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: ø59.238b
- Shares outstanding: 302.08m
- Website: https://www.tryg.com
Number of Employees
Location
- Tryg A/S
- Klausdalsbrovej 601
- Ballerup
- Capital Region of Denmark
- 2670
- Denmark
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TRYG | CPSE (OMX Nordic Exchange Copenhagen) | Yes | Share Capital | DK | DKK | Oct 2005 |
| T2V1 | DB (Deutsche Boerse AG) | Yes | Share Capital | DE | EUR | Oct 2005 |
| 0R78 | LSE (London Stock Exchange) | Yes | Share Capital | GB | DKK | Oct 2005 |
| TGVS.F | OTCPK (Pink Sheets LLC) | Yes | Share Capital | US | USD | Oct 2005 |
| TRYGC | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Share Capital | GB | DKK | Oct 2005 |
Biography
Tryg A/S, together with its subsidiaries, provides insurance products and services for private and corporate customers, and small and medium sized businesses in Denmark, the United Kingdom, the United Stat ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/09 20:52 |
| End of Day Share Price | 2019/12/09 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.