CPSE:TRYG

Stock Analysis Report

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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 the Nordic region. More Details


Snowflake Analysis

Solid track record established dividend payer.


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

-3.5%

TRYG

-3.5%

DK Insurance

-2.0%

DK Market


1 Year Return

6.7%

TRYG

-23.9%

DK Insurance

33.9%

DK Market

Return vs Industry: TRYG exceeded the Danish Insurance industry which returned -24.1% over the past year.

Return vs Market: TRYG underperformed the Danish Market which returned 35.6% over the past year.


Shareholder returns

TRYGIndustryMarket
7 Day-3.5%-3.5%-2.0%
30 Day2.3%-5.9%5.8%
90 Day2.0%-9.2%6.2%
1 Year8.4%6.7%-20.3%-23.9%36.5%33.9%
3 Year50.1%33.5%-8.1%-21.4%53.3%41.8%
5 Year108.9%61.5%14.0%-12.1%71.1%49.7%

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

Valuation

Is Tryg undervalued compared to its fair value and its price relative to the market?

24.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TRYG (DKK200.6) is trading above our estimate of fair value (DKK179.54)

Significantly Below Fair Value: TRYG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TRYG is poor value based on its PE Ratio (24.8x) compared to the XE Insurance industry average (10.4x).

PE vs Market: TRYG is poor value based on its PE Ratio (24.8x) compared to the Danish market (16.4x).


Price to Earnings Growth Ratio

PEG Ratio: TRYG is poor value based on its PEG Ratio (4.5x)


Price to Book Ratio

PB vs Industry: TRYG is overvalued based on its PB Ratio (4.7x) compared to the XE Insurance industry average (1x).


Next Steps

Future Growth

How is Tryg forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

5.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TRYG's forecast earnings growth (5.5% per year) is above the savings rate (0.3%).

Earnings vs Market: TRYG's earnings (5.5% per year) are forecast to grow slower than the Danish market (11.9% per year).

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

Revenue vs Market: TRYG's revenue (2.4% per year) is forecast to grow slower than the Danish market (6.3% per year).

High Growth Revenue: TRYG's revenue (2.4% 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 (23.3%)


Next Steps

Past Performance

How has Tryg performed over the past 5 years?

0.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TRYG has high quality earnings.

Growing Profit Margin: TRYG's current net profit margins (11.1%) are higher than last year (10.8%).


Past Earnings Growth Analysis

Earnings Trend: TRYG's earnings have grown by 0.6% per year over the past 5 years.

Accelerating Growth: TRYG's earnings growth over the past year (8.1%) exceeds its 5-year average (0.6% per year).

Earnings vs Industry: TRYG earnings growth over the past year (8.1%) exceeded the Insurance industry -4.4%.


Return on Equity

High ROE: TRYG's Return on Equity (19.1%) is considered low.


Next Steps

Financial Health

How is Tryg's financial position?


Financial Position Analysis

Short Term Liabilities: TRYG's short term assets (DKK6.9B) do not cover its short term liabilities (DKK34.2B).

Long Term Liabilities: TRYG's short term assets (DKK6.9B) do not cover its long term liabilities (DKK11.6B).


Debt to Equity History and Analysis

Debt Level: TRYG's debt to equity ratio (23.2%) is considered satisfactory.

Reducing Debt: TRYG's debt to equity ratio has reduced from 65.6% to 23.2% over the past 5 years.

Debt Coverage: TRYG's debt is well covered by operating cash flow (83.5%).

Interest Coverage: TRYG's interest payments on its debt are well covered by EBIT (22.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Tryg current dividend yield, its reliability and sustainability?

3.39%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TRYG's dividend (3.39%) is higher than the bottom 25% of dividend payers in the Danish market (1.27%).

High Dividend: TRYG's dividend (3.39%) is in the top 25% of dividend payers in the Danish market (3.36%)


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 low payout ratio (21%), TRYG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TRYG's dividends in 3 years are forecast to be covered by earnings (63.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.8yrs

Average management tenure


CEO

Morten Hübbe (48 yo)

9.75yrs

Tenure

kr.14,443,500

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 ($USD2.29M) is about average for companies of similar size in the Danish market ($USD2.27M).

Compensation vs Earnings: Morten's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Morten Hübbe
Group CEO & Member of Executive Board9.75yrskr.14.44m0.065%
DKK 39.4m
Barbara Jensen
Group CFO & Member of Executive Board1.58yrskr.6.44mno data
Lars Bonde
Group COO & Member of Executive Board14.75yrskr.7.01m0.023%
DKK 14.1m
Johan Brammer
Group Chief Commercial Officer & Member of Executive Board2.75yrskr.6.75m0.0081%
DKK 4.9m
Gianandrea Roberti
Investor Relations Officer5yrsno datano data
Tanja Frederiksen
Head of Communicationsno datano datano data
Jens Galsgaard
Chief Internal Auditorno datano datano data
Jesper Joensen
Group Executive Vice President of Claims and Senior Vice President of Corporate DK4.75yrsno datano data
Linnéa Ecorcheville
Managing Director and Country Manager of Moderna Forsakringar4.92yrsno datano data
Espen Stroemme
Senior Vice President of Commercial for Norway4.75yrsno datano data
Hans Arnum
Head of Commercial2.5yrsno datano data
Bettina Clausen
Chief Legal Advisorno datano datano data

4.8yrs

Average Tenure

49yo

Average Age

Experienced Management: TRYG's management team is considered experienced (4.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Carl-Viggo Östlund
Independent Supervisory Board Member5.58yrskr.787.50k0.00087%
DKK 526.6k
Lene Skole-Sørensen
Independent Supervisory Board Member10.75yrskr.695.00k0.0023%
DKK 1.4m
Bodil Andersen
Deputy Chairman of Insurance Group14.5yrskr.237.64kno data
Mari Thjomoe
Independent Supervisory Board Member8.5yrskr.695.00k0.0014%
DKK 865.6k
Tina Snejbjerg
Employee Representative Supervisory Board Member10.75yrskr.537.50k0.00034%
DKK 205.8k
Jukka Pertola
Independent Supervisory Board Chairman2.58yrskr.1.67m0.0013%
DKK 805.1k
Torben Nielsen
Independent Supervisory Board Vice Chairman9.75yrskr.1.31m0.0093%
DKK 5.6m
Ida Jensen
Supervisory Board Member7.75yrskr.810.00k0.00096%
DKK 581.1k
Elias Bakk
Employee Representative Supervisory Board Member3.58yrskr.382.50k0.00027%
DKK 163.4k
Claus Wistoft
Supervisory Board Member1.58yrskr.292.50k0.00083%
DKK 502.4k
Karen Bladt
Supervisory Board Member1.58yrskr.292.50kno data
Charlotte Dietzer
Employee Representative Supervisory Board Member0.58yrno datano data

6.7yrs

Average Tenure

61yo

Average Age

Experienced Board: TRYG's board of directors are considered experienced (6.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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: kr.60.531b
  • Shares outstanding: 301.75m
  • Website: https://www.tryg.com

Number of Employees


Location

  • Tryg A/S
  • Klausdalsbrovej 601
  • Ballerup
  • Capital Region of Denmark
  • 2750
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TRYGCPSE (OMX Nordic Exchange Copenhagen)YesShare CapitalDKDKKOct 2005
T2V1DB (Deutsche Boerse AG)YesShare CapitalDEEUROct 2005
0R78LSE (London Stock Exchange)YesShare CapitalGBDKKOct 2005
TGVS.FOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDOct 2005
TRYGCBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBDKKOct 2005
TRYGWBAG (Wiener Boerse AG)YesShare CapitalATEUROct 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 the Nordic region. The company operates thro ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 20:45
End of Day Share Price2020/10/19 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.