BIT:BGN

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Banca Generali S.p.A. distributes financial products and services for affluent and private customers through financial advisors primarily in Italy. More Details


Snowflake Analysis

6 star dividend payer with solid track record.


Similar Companies

Share Price & News

How has Banca Generali's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BGN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-9.7%

BGN

-8.7%

IT Capital Markets

-6.0%

IT Market


1 Year Return

-16.6%

BGN

-19.3%

IT Capital Markets

-22.1%

IT Market

Return vs Industry: BGN exceeded the Italian Capital Markets industry which returned -19.3% over the past year.

Return vs Market: BGN exceeded the Italian Market which returned -22.1% over the past year.


Shareholder returns

BGNIndustryMarket
7 Day-9.7%-8.7%-6.0%
30 Day-10.9%-9.1%-7.7%
90 Day-2.6%-7.3%-7.7%
1 Year-16.6%-16.6%-16.2%-19.3%-20.0%-22.1%
3 Year-4.9%-14.3%-15.1%-27.9%-20.1%-27.6%
5 Year5.7%-13.0%-19.1%-30.9%-13.9%-33.7%

Price Volatility Vs. Market

How volatile is Banca Generali's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

10.3x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BGN (€24.26) is trading above our estimate of fair value (€17.58)

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


Price To Earnings Ratio

PE vs Industry: BGN is good value based on its PE Ratio (10.3x) compared to the IT Capital Markets industry average (14.4x).

PE vs Market: BGN is good value based on its PE Ratio (10.3x) compared to the Italian market (15.7x).


Price to Earnings Growth Ratio

PEG Ratio: BGN is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: BGN is overvalued based on its PB Ratio (3.4x) compared to the IT Capital Markets industry average (1.3x).


Next Steps

Future Growth

How is Banca Generali forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

3.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BGN's forecast earnings growth (3.1% per year) is above the savings rate (2%).

Earnings vs Market: BGN's earnings (3.1% per year) are forecast to grow slower than the Italian market (24% per year).

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

Revenue vs Market: BGN's revenue (3.4% per year) is forecast to grow faster than the Italian market (3.4% per year).

High Growth Revenue: BGN's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BGN's Return on Equity is forecast to be high in 3 years time (25.2%)


Next Steps

Past Performance

How has Banca Generali performed over the past 5 years?

9.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BGN has high quality earnings.

Growing Profit Margin: BGN's current net profit margins (44.4%) are higher than last year (42.1%).


Past Earnings Growth Analysis

Earnings Trend: BGN's earnings have grown by 9.2% per year over the past 5 years.

Accelerating Growth: BGN's earnings growth over the past year (23%) exceeds its 5-year average (9.2% per year).

Earnings vs Industry: BGN earnings growth over the past year (23%) underperformed the Capital Markets industry 48.4%.


Return on Equity

High ROE: BGN's Return on Equity (32.6%) is considered high.


Next Steps

Financial Health

How is Banca Generali'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


Financial Institutions Analysis

Asset Level: BGN's Assets to Equity ratio (14.8x) is moderate.

Allowance for Bad Loans: BGN has a low allowance for bad loans (71%).

Low Risk Liabilities: 88% of BGN's liabilities are made up of primarily low risk sources of funding.

Loan Level: BGN has an appropriate level of Loans to Assets ratio (64%).

Low Risk Deposits: BGN's Loans to Deposits ratio (78%) is appropriate.

Level of Bad Loans: BGN has an appropriate level of bad loans (0.6%).


Next Steps

Dividend

What is Banca Generali current dividend yield, its reliability and sustainability?

7.63%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BGN's dividend (7.63%) is higher than the bottom 25% of dividend payers in the Italian market (1.73%).

High Dividend: BGN's dividend (7.63%) is in the top 25% of dividend payers in the Italian market (5.95%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (78.6%), BGN's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BGN's dividends in 3 years are forecast to be covered by earnings (72.3% payout ratio).


Next Steps

Management

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

4.8yrs

Average management tenure


CEO

Gian Mossa (46 yo)

4.5yrs

Tenure

€10,397

Compensation

Mr. Gian Maria Mossa has been the Chief Executive Officer of Banca Generali S.p.A. since March 2017. Mr. Mossa has been General Manager since March 23, 2017. Mr. Mossa served as General Manager of Banca Ge ...


Leadership Team

NamePositionTenureCompensationOwnership
Giancarlo Fancel
President & Chairman of the Board4.75yrs€24.26kno data
Gian Mossa
GM, CEO & Director4.5yrs€10.40kno data
Tommaso Russo
Head of Strategy3.5yrsno datano data
Riccardo Renna
Chief Operation Officer & Innovation4.33yrsno datano data
Giuliana Pagliari
Head of Investor Relations12.58yrsno datano data
Matteo Canali
Head of Compliance & Anti Money Laundering Departmentno datano datano data
Carmelo Reale
General Counsel0.083yrno datano data
Michele Seghizzi
Head of Marketing & External Relations Departmentno datano datano data
Barbara Malagutti
Head of Marketing13.67yrsno datano data
Valentina Frezza
HR Directorno datano datano data
Francesco Barraco
Head of the Internal Audit17yrsno datano data
Antonio Nicastro
Head of Lending15.75yrsno datano data

4.8yrs

Average Tenure

54.5yo

Average Age

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


Board Members

NamePositionTenureCompensationOwnership
Giancarlo Fancel
President & Chairman of the Board4.75yrs€24.26kno data
Gian Mossa
GM, CEO & Director4.5yrs€10.40kno data
Annalisa Pescatori
Independent Non-Executive Director5.5yrs€53.90kno data
Azzurra Caltagirone
Non-Executive & Non-Independent Director4.33yrsno datano data
Cristina Rustignoli
Non-Executive Non-Independent Director4.33yrsno datano data
Flavia Minutillo
Member of Board of Statutory Auditorsno datano datano data
Mario Anaclerio
Member of Board of Statutory Auditorsno data€21.93kno data
Giovanni Brugnoli
Independent Non-Executive Director8.5yrs€71.88kno data
Anna Gervasoni
Independent Non-Executive Director8.5yrs€77.89kno data
Massimo Lapucci
Independent Non-Executive Director5.5yrs€51.90kno data
Vittorio Terzi
Independent Non-Executive Director5.5yrs€51.90kno data
Massimo Cremona
Chairman of Board of Statutory Auditorsno datano datano data

5.5yrs

Average Tenure

52.5yo

Average Age

Experienced Board: BGN's board of directors are considered experienced (5.5 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

Banca Generali S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banca Generali S.p.A.
  • Ticker: BGN
  • Exchange: BIT
  • Founded: 1997
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: €2.791b
  • Shares outstanding: 115.05m
  • Website: https://www.bancagenerali.com

Number of Employees


Location

  • Banca Generali S.p.A.
  • Via Machiavelli
  • Trieste
  • 34132
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BGNBIT (Borsa Italiana)YesOrdinary SharesITEURNov 2006
B7ADB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2006
0DQZLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 2006
BGNMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 2006
BGNWBAG (Wiener Boerse AG)YesOrdinary SharesATEURNov 2006

Biography

Banca Generali S.p.A. distributes financial products and services for affluent and private customers through financial advisors primarily in Italy. The company operates through Wealth Management CGU, Priva ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/28 22:16
End of Day Share Price2020/10/28 00:00
Earnings2020/06/30
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.