NN Group is a financial services company based in the Netherlands. Co. engages in insurance and investment management activities, providing life and non-life insurance products primarily in the Netherlands, Belgium, rest of Europe, and Asia. Co. offers group and individual life insurance; and motor, transport, fire, liability, travel, and income insurance. Co. also offers retirement, insurance, investments, and banking services to retail, SME, corporate, and institutional customers. Co. is active in 18 countries, with a presence predominantly in a number of European countries and Japan.
  • TickerA115DY
  • ISINNL0010773842
  • ExchangeEuronext Amsterdam
  • SectorLife Insurance
  • CountryNetherlands

Analysts

Henry Heathfield

Morningstar | NN Updated Forecasts and Estimates from 17 May 2019

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million on a 9-basis-point improvement to 90 basis points on reserves profitability. Both of these are quite...

Henry Heathfield

Morningstar | NN's 1Q a Bit of a Mixed Bag, but Market Still Way Too Pessimistic

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million on a 9-basis-point improvement to 90 basis points on reserves profitability. Both of these are quite...

Henry Heathfield

NN's 1Q a Bit of a Mixed Bag, but Market Still Way Too Pessimistic

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million o...

Expert Corporate Governance Service (ECGS)

NN Group - AGM 29 May 2019

In general, NN Group is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 8, the executive board seeks approval to issue contingent convertible securities (commonly known as Coco's). Although NN Group clearly justified its interest in the authority requested, the maximum number of shares potentially to be issued upon conversion (corresponding to 30% of the Company’s share capital) exceeds the threshold of 10% under ECGS’ guidelines. ECGS is furthermore somewhat uncomfortable over the duration (of 5 years) of the auth...

For NN GROUP, the environment deterioration entails a downgrade to Neutral

NN GROUP (NL), a company active in the Life Insurance industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date February 22, 2019, the closing price was EUR 37.62 and its expected value was estimated at EUR 36.76.

Henry Heathfield

Morningstar | NN Updated Forecasts and Estimates from 17 May 2019

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million on a 9-basis-point improvement to 90 basis points on reserves profitability. Both of these are quite...

Henry Heathfield

Morningstar | NN's 1Q a Bit of a Mixed Bag, but Market Still Way Too Pessimistic

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million on a 9-basis-point improvement to 90 basis points on reserves profitability. Both of these are quite...

Henry Heathfield

NN's 1Q a Bit of a Mixed Bag, but Market Still Way Too Pessimistic

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million o...

Henry Heathfield

Morningstar | Best Idea Update: Decent 2018 Close and Prospects for NN

NN Group reported an operating result of EUR 343 million for the fourth quarter with a full-year operating result of EUR 1,626 million. The net result has been hit quite hard by an impairment of goodwill on the back of the Delta Lloyd acquisition, but operating numbers look healthy. The Solvency II ratio remains strong at 230%; in line with this, management announced a EUR 500 million share buyback for the next 12 months commencing March 1 as the company still is holding cash of EUR 2 billion. A final dividend of EUR 1.24 per share is being proposed, taking the full year to EUR 1.90, a 5% yiel...

Alan Vandenberghe ...
  • Bart Cuypers
  • Cedric Duinslaeger
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wim Hoste

KBC Securities Morning Note 14-2-2019 ABN NA, AGN NA, ARCAD NA, DSM NA, IVA FR, MDXH BB, NN NA, SBMO NA, SIP BB, SOF BB, TNET BB, VPK NA

ABN Amro: Strong capital, but reluctant distribution AEGON: 4Q below, 2019-21 targets fall short of expectations Arcadis: Mixed results with strong free cash flow DSM: 4Q slightly above estimates, € 1bn SBB announced Inventiva: Increasing cash burn in late 2018 MDxHealth: LifeLabs as Canadian distributor for SelectMDx NN Group: Buyback € 0.5bn, 4Q lighter but on course SBM Offshore: Solid results, increases dividend and buybacks Sipef: FY18: the sting is in the tail Sofina: Zilingo, yet another investment in Asia Telenet: Subscriber losses continue, mixed 2019 outlook Vopak: FY18 analyst meeti...

For NN GROUP, the environment deterioration entails a downgrade to Neutral

NN GROUP (NL), a company active in the Life Insurance industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date February 22, 2019, the closing price was EUR 37.62 and its expected value was estimated at EUR 36.76.

Expert Corporate Governance Service (ECGS)

NN Group - AGM 29 May 2019

In general, NN Group is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 8, the executive board seeks approval to issue contingent convertible securities (commonly known as Coco's). Although NN Group clearly justified its interest in the authority requested, the maximum number of shares potentially to be issued upon conversion (corresponding to 30% of the Company’s share capital) exceeds the threshold of 10% under ECGS’ guidelines. ECGS is furthermore somewhat uncomfortable over the duration (of 5 years) of the auth...

NN Group – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Matthieu DRIOL

Analyse court terme - NN GROUP NV : Baisse en cours.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 36,77 € pourrait relancer le mouvement haussier vers 39,51 €. La rupture de 35,60 € mettrait la tendance en danger.

Matthieu DRIOL

Analyse court terme - NN GROUP NV : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 36,77 €. La tendance serait remise en cause par la rupture de 35,60 €.

Matthieu DRIOL

Short term view - NN GROUP NV : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €36.77. A break below €35.60 would challenge the trend.

Matthieu DRIOL

Analyse moyen terme - NN GROUP NV : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 40,00 € et 43,74 €. La tendance serait invalidée sous le support à 32,99 €.

Matthieu DRIOL

Analyse court terme - NN GROUP NV : Les cours progressent toujours.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 39,51 € et 41,13 €. La tendance serait invalidée sous le support à 35,60 €.

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