NN Group
Market Cap
€7.7b
Last Updated
2020/03/29 23:36 UTC
Data Sources
Company Financials +
Executive Summary
NN Group N.V., a financial services company, primarily provides life insurance products in the Netherlands, rest of Europe, the United States, and Asia.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -11.3% per year for the next 3 years
Snowflake Analysis
Undervalued with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has NN Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: NN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
4.5%
NN
13.8%
NL Insurance
6.5%
NL Market
1 Year Return
-34.8%
NN
-23.3%
NL Insurance
-24.0%
NL Market
Return vs Industry: NN underperformed the Dutch Insurance industry which returned -23.3% over the past year.
Return vs Market: NN underperformed the Dutch Market which returned -24% over the past year.
Shareholder returns
| NN | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.5% | 13.8% | 6.5% |
| 30 Day | -21.7% | -20.6% | -15.7% |
| 90 Day | -29.3% | -29.6% | -25.4% |
| 1 Year | -30.8%-34.8% | -18.5%-23.3% | -20.8%-24.0% |
| 3 Year | -7.7%-20.8% | -5.3%-18.8% | -6.4%-16.7% |
| 5 Year | 18.2%-8.1% | 0.5%-22.6% | 7.0%-13.6% |
Price Volatility Vs. Market
How volatile is NN Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Can We See Significant Institutional Ownership On The NN Group N.V. (AMS:NN) Share Register?1 month ago | Simply Wall St
Does NN Group N.V. (AMS:NN) Have A Good P/E Ratio?2 months ago | Simply Wall St
Should NN Group (AMS:NN) Be Disappointed With Their 34% Profit?Valuation
Is NN Group undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NN (€24.14) is trading below our estimate of fair value (€79.91)
Significantly Below Fair Value: NN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: NN is good value based on its PE Ratio (4.2x) compared to the Insurance industry average (8.8x).
PE vs Market: NN is good value based on its PE Ratio (4.2x) compared to the Dutch market (14.6x).
Price to Earnings Growth Ratio
PEG Ratio: NN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: NN is good value based on its PB Ratio (0.2x) compared to the XE Insurance industry average (0.9x).
Next Steps
Future Growth
How is NN Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-11.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NN's earnings are forecast to decline over the next 3 years (-11.3% per year).
Earnings vs Market: NN's earnings are forecast to decline over the next 3 years (-11.3% per year).
High Growth Earnings: NN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: NN's revenue is expected to decline over the next 3 years (-12.9% per year).
High Growth Revenue: NN's revenue is forecast to decline over the next 3 years (-12.9% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NN's Return on Equity is forecast to be low in 3 years time (5.1%).
Next Steps
Past Performance
How has NN Group performed over the past 5 years?
6.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NN has high quality earnings.
Growing Profit Margin: NN's current net profit margins (9.4%) are higher than last year (5.4%).
Past Earnings Growth Analysis
Earnings Trend: NN's earnings have grown by 6.9% per year over the past 5 years.
Accelerating Growth: NN's earnings growth over the past year (79.7%) exceeds its 5-year average (6.9% per year).
Earnings vs Industry: NN earnings growth over the past year (79.7%) exceeded the Insurance industry 11.4%.
Return on Equity
High ROE: NN's Return on Equity (6.1%) is considered low.
Next Steps
Financial Health
How is NN Group'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: NN has a low level of unsold assets or inventory.
Debt Coverage by Assets: NN's debt is covered by short term assets (assets are 1.9x debt).
Financial Institutions Analysis
Asset Level: NN's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if NN has a sufficient allowance for bad loans.
Low Risk Liabilities: NN reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if NN has an acceptable proportion of non-loan assets held.
Low Risk Deposits: NN has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if NN has an appropriate level of bad loans.
Next Steps
Dividend
What is NN Group's current dividend yield, its reliability and sustainability?
8.95%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: NN's dividend (8.95%) is higher than the bottom 25% of dividend payers in the Dutch market (2.99%).
High Dividend: NN's dividend (8.95%) is in the top 25% of dividend payers in the Dutch market (7.71%)
Stability and Growth of Payments
Stable Dividend: NN has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: NN's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (37.5%), NN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: NN's dividends in 3 years are forecast to be covered by earnings (54.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.5yrs
Average management tenure
CEO
David Knibbe (48yo)
0.42
Tenure
€2,006,000
Compensation
Dr. David E. Knibbe has been Chairman of the Executive Board at NN Group NV since October 1, 2019. And served as its Chief Executive Officer since October 1, 2019 until Npvember 2019. Dr. Knibbe was Chief ...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD2.22M) is about average for companies of similar size in the Dutch market ($USD2.40M).
Compensation vs Earnings: Insufficient data to compare David's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Former Chairman of Executive Board | 0.42yr | €2.01m | 0.011% €820.9k | |
| Vice Chairman of Management Board | 6yrs | €2.36m | no data | |
| Vice Chairman of Executive Board & CFO | 5.67yrs | €2.16m | 0.015% €1.1m | |
| CTO, Interim CEO Netherlands & Member of Management Board | 1.5yrs | no data | no data | |
| CEO of NN Investment Partners & Member of Management Board | 2.92yrs | no data | no data | |
| Former Managing Director of Corporate Relations | 1.5yrs | no data | no data | |
| CEO of International Insurance & Member of Management Board | 1.5yrs | no data | no data | |
| General Counsel | 1.5yrs | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Chief Executive Officer of NN Poland | 4.42yrs | no data | no data |
1.5yrs
Average Tenure
50yo
Average Age
Experienced Management: NN's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Supervisory Board Member | 2.75yrs | €98.01k | no data | |
| Supervisory Board Vice Chairman | 4.08yrs | €121.61k | no data | |
| Chair of the Supervisory Board | 0.83yr | €158.81k | no data | |
| Supervisory Board Member | 4.08yrs | €122.21k | no data | |
| Supervisory Board Member | 4.42yrs | €102.95k | no data | |
| Supervisory Board Member | 2.75yrs | €122.21k | no data | |
| Supervisory Board Member | 5.67yrs | €131.89k | no data | |
| Supervisory Board Member | 5.67yrs | €102.85k | no data |
4.1yrs
Average Tenure
64.5yo
Average Age
Experienced Board: NN's board of directors are considered experienced (4.1 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
NN Group N.V.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: NN Group N.V.
- Ticker: NN
- Exchange: ENXTAM
- Founded: 2011
- Industry: Life and Health Insurance
- Sector: Insurance
- Market Cap: €7.715b
- Shares outstanding: 319.60m
- Website: https://www.nn-group.com
Number of Employees
Location
- NN Group N.V.
- Schenkkade 65
- The Hague
- Zuid-Holland
- 2595 AS
- Netherlands
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| NN | ENXTAM (Euronext Amsterdam) | Yes | Ordinary Shares | NL | EUR | Jul 2014 |
| NNA | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jul 2014 |
| 2NN | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jul 2014 |
| 0QVV | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jul 2014 |
| NNGP.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jul 2014 |
| NN | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Jul 2014 |
| 2NN | ETLX (Eurotlx) | Yes | Ordinary Shares | IT | EUR | Jul 2014 |
| NNGR.Y | OTCPK (Pink Sheets LLC) | UNSPONSOD ADR | US | USD | Jan 2017 |
Biography
NN Group N.V., a financial services company, primarily provides life insurance products in the Netherlands, rest of Europe, the United States, and Asia. The company operates through seven segments: Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Asset Management, Other, and Japan Closed Block VA. It offers group and individual life/pension products, single premium variable annuity individual life insurance products, and corporate-owned and protection life insurance products; and health, motor, fire, liability, transport, disability, and accident insurance products, as well as pension administration services. The company also provides retirement products and services; various asset management products comprising fixed income, equity, multi-asset, and alternative credit; and banking services, including mortgages, savings products, and reinsurance services. It offers its products to individuals, small and medium-sized enterprises, large corporations, retail customers, wholesale distributors, and institutional investors directly, as well as through agents, brokers, and banks. The company was formerly known as ING Insurance Topholding N.V. and changed its name to NN Group N.V. in March 2014 as a result of its merger with ING Verzekeringen N.V. NN Group N.V. was incorporated in 2011 and is headquartered in The Hague, the Netherlands.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/29 23:36 |
| End of Day Share Price | 2020/03/27 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.