OB:PROTCT

Stock Analysis Report

Protector Forsikring

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.

Snowflake

Fundamentals

Slightly overvalued with concerning outlook.

Share Price & News

How has Protector Forsikring's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.3%

PROTCT

1.1%

NO Insurance

0.09%

NO Market


1 Year Return

8.5%

PROTCT

11.2%

NO Insurance

-8.7%

NO Market

Return vs Industry: PROTCT underperformed the Norwegian Insurance industry which returned 11.2% over the past year.

Return vs Market: PROTCT exceeded the Norwegian Market which returned -8.7% over the past year.


Shareholder returns

PROTCTIndustryMarket
7 Day-3.3%1.1%0.09%
30 Day-3.6%2.7%-1.8%
90 Day-8.9%-0.3%2.1%
1 Year8.5%8.5%16.9%11.2%-3.9%-8.7%
3 Year-45.9%-47.8%48.0%27.6%40.2%21.9%
5 Year20.8%10.1%67.6%30.1%59.2%22.5%

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

Valuation

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

47.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PROTCT (NOK43.36) is trading below our estimate of fair value (NOK82.65)

Significantly Undervalued: PROTCT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PROTCT is unprofitable, so we can't compare its PE Ratio to the Insurance industry average.

PE vs Market: PROTCT is unprofitable, so we can't compare its PE Ratio to the Norwegian market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate PROTCT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PROTCT is overvalued based on its PB Ratio (1.8x) compared to the XE Insurance industry average (1.3x).


Next Steps

Future Growth

How is Protector Forsikring forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

81.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PROTCT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PROTCT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PROTCT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PROTCT's revenue (10.3% per year) is forecast to grow faster than the Norwegian market (4.7% per year).

High Growth Revenue: PROTCT's revenue (10.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: PROTCT's Return on Equity is forecast to be low in 3 years time (18.2%).


Next Steps

Past Performance

How has Protector Forsikring performed over the past 5 years?

-26.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PROTCT is unprofitable, and losses have increased over the past 5 years at a rate of -26.4% per year.

Accelerating Growth: Unable to compare PROTCT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PROTCT is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (9.1%).


Return on Equity

High ROE: PROTCT has a negative Return on Equity (-9.78%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: PROTCT is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: PROTCT is currently unprofitable, so its Return on Capital Employed is negative.


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: PROTCT has a low level of unsold assets or inventory.

Debt Coverage by Assets: PROTCT's debt is covered by short term assets (assets are 4.852650x debt).


Financial Institutions Analysis

Asset Level: PROTCT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if PROTCT has a sufficient allowance for bad loans.

Low Risk Liabilities: PROTCT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if PROTCT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PROTCT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if PROTCT has an appropriate level of bad loans.


Next Steps

Dividend

What is Protector Forsikring's current dividend yield, its reliability and sustainability?

1.15%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%6.2%industryaverage4.8%forecastin3Years1.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate PROTCT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate PROTCT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if PROTCT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PROTCT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PROTCT is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PROTCT's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

What is the CEO of Protector Forsikring's salary, the management and board of directors tenure and is there insider trading?

3.1yrs

Average management tenure


CEO

Sverre Bjerkeli (59yo)

13.8yrs

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 ($USD1.26M) is about average for companies of similar size in the Norwegian market ($USD445.76K).

Compensation vs Earnings: Sverre's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.1yrs

Average Tenure

52yo

Average Age

Experienced Management: PROTCT's management team is considered experienced (3.1 years average tenure).


Board Age and Tenure

5.8yrs

Average Tenure

53yo

Average Age

Experienced Board: PROTCT's board of directors are considered experienced (5.8 years average tenure).


Insider Trading

Insider Buying: PROTCT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr97,00019 Jul 19
Henrik Høye
EntityIndividual
Shares2,000
Max Pricekr48.50
Buykr9,69619 Jul 19
Line Engelmann-Kokkim
EntityIndividual
Role
Member of the Board of Directors
Director
Shares202
Max Pricekr48.00
Buykr97,60012 Jul 19
Dag Nereng
EntityIndividual
Role
Chief Investment Officer
Chief Investment Officer - Equities
Shares2,000
Max Pricekr48.80
Buykr140,82001 Feb 19
Dag Nereng
EntityIndividual
Role
Chief Investment Officer
Chief Investment Officer - Equities
Shares3,000
Max Pricekr46.94
Buykr150,31512 Nov 18
Lars Rambol
EntityIndividual
Shares3,300
Max Pricekr45.55
Buykr9,00010 Nov 18
Lars Rambol
EntityIndividual
Shares200
Max Pricekr45.00

Ownership Breakdown


Management Team

  • Erik Sand (50yo)

    Director of Business Development

    • Tenure: 3.1yrs
  • Trond Høye (63yo)

    Chief Technology Officer and Insurance Director

    • Tenure: 0yrs
    • Compensation: kr2.33m
  • Sverre Bjerkeli (59yo)

    Chief Executive Officer

    • Tenure: 13.8yrs
    • Compensation: kr11.53m
  • Ditlev de Vibe Vanay (52yo)

    Chief Financial Officer

    • Tenure: 0.8yrs
    • Compensation: kr3.77m
  • Dag Nereng (47yo)

    Chief Investment Officer - Equities

    • Tenure: 0yrs
  • Leonard Bijl

    IT Director

    • Tenure: 0yrs
  • Anders Palm

    Executive Assistant & IR

    • Tenure: 0yrs

Board Members

  • Else Fougner (74yo)

    Director

    • Tenure: 8.8yrs
  • Randi Røed (56yo)

    Director

    • Tenure: 5.8yrs
  • Jostein Sørvoll (69yo)

    Chairman of the Board

    • Tenure: 0yrs
  • Anders Lenborg (50yo)

    Deputy Chairman

    • Tenure: 0yrs
    • Compensation: kr90.00k
  • Alexander Amsrud

    Deputy Board member

    • Tenure: 0yrs
  • Jørgen Stenshagen (42yo)

    Director

    • Tenure: 5.8yrs
  • Line Engelmann-Kokkim

    Director

    • Tenure: 1.6yrs
  • Mathews Ambalathil

    Director

    • Tenure: 0yrs
  • Adele Bugge Pran (49yo)

    Director

    • Tenure: 0yrs

Company Information

Protector Forsikring ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Protector Forsikring ASA
  • Ticker: PROTCT
  • Exchange: OB
  • Founded: 2003
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: kr3.545b
  • Shares outstanding: 81.76m
  • Website: https://www.protectorforsikring.no

Number of Employees


Location

  • Protector Forsikring ASA
  • Støperigata 2
  • Oslo
  • Oslo
  • 113
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PROTCTOB (Oslo Bors)YesA SharesNONOKJul 2006
0JXFLSE (London Stock Exchange)YesA SharesGBNOKJul 2006
PROTCoBATS-CHIXE (BATS 'Chi-X Europe')YesA SharesGBNOKJul 2006
PSKR.FOTCPK (Pink Sheets LLC)YesA SharesUSUSDJul 2006
PR4DB (Deutsche Boerse AG)YesA SharesDEEURJul 2006
PSKR.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDOct 2019

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 Ki ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 20:55
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.