Societe Generale

Societe Generale is a universal banking and financial services group based in France. Co. is engaged in operations in areas such as retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Co.'s three segments are: French Retail Banking (FRB); International Retail Banking & Financial Services (IBFS); and Global Banking and Investor Solutions (GBIS). FRB offers products and services to individual, professional and business customers; IBFS comprises banking networks and consumer finance activities; and GBIS covers global activities of Corporate and Investment Banking. Co. maintains operations across 76 countries globally.
  • TickerGLE
  • ISINFR0000130809
  • ExchangeEuronext Paris
  • SectorBanks
  • CountryFrance

Analysts

Alain LOPEZ ...
  • Christine KAM
  • Gilles de BOURROUSSE
  • Jan PATTEYN
  • Louis GUINTRANGE NONCHEZ

*** Octo - Creditorial - 05 June 2018 ***

Octo - Creditorial - 05 June 2018

Alain LOPEZ ...
  • Christine KAM
  • Gilles de BOURROUSSE
  • Jan PATTEYN
  • Louis GUINTRANGE NONCHEZ

*** Octo - Creditorial - 05 juin 2018 ***

Octo - Creditorial - 05 juin 2018

Ahmed Ben Salem ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/06/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/05/2019

...

Jean Sassus ...
  • Steven Gould

Societe Generale : Solvency improves but generation of capital remains uncertain

>Welcome catch-up on solvency - Société Générale has regained some leeway on an issue that has been worrying investors.Thanks to divestments and a better use of its RWA, CET1 improved from 11.2% at end-2018 to 11.7% at end-Q1 2019.Changes to the scope of consolidation that have already been put in place will contribute an additional 15bp. As a result a CET1 of 12.0% appears far more achievable, even factoring in restructuring charges and negative regula...

Jean Sassus ...
  • Steven Gould

Société Générale : Solvabilité mise à niveau mais génération de fonds propres incertaine

>Rattrapage bienvenu sur la solvabilité - SG regagne une vraie marge de manœuvre sur un sujet qui préoccupait les investisseurs :Grâce aux cessions et à une meilleure utilisation de ses RWA, le CET1 passe de 11.2% fin 2018 à 11.7% fin T1 2019.Les changements de périmètres déjà actés devraient apporter 15 pb supplémentaires. En conséquence, un CET1 de 12.0% paraît beaucoup plus accessible même en intégrant des charges de restructuration et des impacts ré...

Johann Scholtz

Morningstar | Societe Generale 1Q: Disappointing Results, Announced Restructuring Has Limited Effect

No-moat Societe Generale, or Socgen, reported net profit of EUR 631 million for the first quarter of 2019. This is 26% lower than the EUR 850 million Socgen reported for the first quarter of 2018. Our current earnings estimate calls for flat earnings growth for the full year, and this is starting to look like a challenging target given the poor first-quarter results and the announced restructuring costs for the struggling investment banking franchise. We maintain our no-moat rating and EUR 33 fair value estimate. A 2% decline in revenue and 1% increase in expenses were enough to lead to a 10%...

1 director bought

A director at Societe Generale bought 2,600 shares at 27.040EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/03/2019

Un examen objectif des moteurs de progression des indices (anticipations de croissance macroéconomique, dynamique des BPA, évolution des conditions monétaires et coût du capital) nous amène à penser que la dynamique observée depuis le début de l’année ne peut se maintenir à court terme. Bref, le marché (Stoxx 600) est en avance sur ses temps de passage et devrait entrer dans une bande de fluctuation que nous estimons comprise entre 355 et 384 points. En conséquence, l’attitude la plus...

Alain William ...
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Roland Pfaender
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/21/2019

...

Alain William ...
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Roland Pfaender
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/02/2019

...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/12/2018

...

Increased risk weighs on SOCIETE GENERALE SA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of SOCIETE GENERALE SA (FR), active in the Money Center Banks industry. As regards its fundamental valuation, the title still shows 3 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date March 19, 2019, the closing price was EUR 27.98 and its target price was estimated at EUR 23.55.

Ibrahim Firdaus

Societe Generale

Ibrahim Firdaus

Societe Generale

Ibrahim Firdaus

Societe Generale

Ibrahim Firdaus

Societe Generale

MarketLine Department

BNP Paribas SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's BNP Paribas SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BNP Paribas SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highl...

Expert Corporate Governance Service (ECGS)

Société Générale - AGM 21 May 2019

Disclaimer: ECGS does not provide any service to the Company, except assistance on managing their voting guidelines (provided by Proxinvest, the French partner of ECGS). ITEMS 9 to 13: the company proposes some improvements on post-employment benefits. We support these changes. ITEM 15: the 2019 remuneration policy proposes 2 major changes which correspond to criticisms ECGS made on previous years: firstly, the LTI TSR criterion will no longer allow vesting in case of performance below the median. Secondly, the company proposes to add a solvency ratio among the annual bonus criteria. As this ...

Jehanne Leroy

Société Générale - Assemblée générale des actionnaires du 21 mai 2019

Note : Proxinvest ne fournit aucun conseil à la société hors l'assistance pour la gestion de la politique de vote des actions détenues. Rémunérations :La politique de rémunérations 2019 propose 2 modifications majeures répondant à des critiques de Proxinvest : la grille d’acquisition du critère TSR de l’intéressement à long-terme ne permettra plus l’acquisition en cas de performance inférieure à la médiane et la société a ajouté un critère de solvabilité à ses critères quantitatifs du bonus annuel. En raison de ces modifications, nous soutenons cette politique de rémunération, préférable à la...

Société Générale – Proxinvest Corporate Governance Rating ® : B

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...

Jehanne Leroy

Proxy Report - 23/05/2018

No major modification has been implemented in the 2018 remuneration policy. Therefore, LTI still allows vesting in case of underperformance. This kind of practice does not meet French and European best practice and is not acceptable for a company's of Société Générale's size. Hence, we recommend shareholders oppose items 6 and 8 to 11.

Jehanne Leroy

Proxy Report - 23/05/2018

Aucune modification majeure n'est apportée à la politique de rémunération 2018 des dirigeants. Ainsi, la société maintient les modalités d'acquisition de la rémunération long-terme, à savoir l'acquisition des instruments même en cas de performance iinférieure à la médiane. Or, ce type de pratiques ne respecte ni les meilleurs standards français, ni ls pratiques européennes, ni les principes de vote de Proxinvest. C'est l'une des principales raisons pour lesquelles Proxinvest ne soutient pas les résolutions 6 et 8 à 11.

Matthieu DRIOL

Analyse court terme - SOCIETE GENERALE-A : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 31,967 €, puis 30,642 €. Le franchissement de 38,400 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - SOCIETE GENERALE-A : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €31.967, then €30.642. Passing €38.400 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - SOCIETE GENERALE-A : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 31,967 €, puis 30,642 €. Le franchissement de 38,400 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - SOCIETE GENERALE-A : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €31.967, then €30.642. Passing €38.400 would question the continuation of the fall.

Matthieu DRIOL

Analyse moyen terme - SOCIETE GENERALE-A : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 31,967 €, puis 26,346 €. Le franchissement de 39,700 € remettrait en cause la suite de la baisse.

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