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NN Group is fairly valued after a strong rally, with limited upside and muted growth prospects. NNGPF's high, sustainable dividend yield (~5.8%) and share buybacks support its appeal to income-focused investors. Organic capital generation and cash flow remain robust, but profitability and ROE lag sector averages, justifying a discounted valuation.
NNGPF (OTCPK:NNGPF) Q2 2025 Earnings Conference Call August 7, 2025 4:00 AM ET Company Participants Annemiek T. J. van Melick - Vice-Chairman of the Management Board & CFO David E.
NN Group stands out for its high, sustainable dividend yield and discounted valuation, appealing to long-term income-focused investors. Strong capital generation, robust solvency, and consistent cash flow support ongoing dividend growth and share buybacks, with a 6.45% yield above the sector average. Profitability remains structurally low, with muted growth prospects due to heavy reliance on the mature Dutch market and limited acquisition activity.
NN Group N.V. (OTCPK:NNGPF) Q4 2024 Earnings Call February 20, 2025 4:30 AM ET Company Participants David Knibbe - Chief Executive Officer Annemiek van Melick - Chief Financial Officer Wilbert Ouburg - Chief Risk Officer Conference Call Participants Cor Kluis - ABN AMRO ODDO BHF Benoit Petrarque - Kepler Cheuvreux David Barma - Bank of America Nasib Ahmed - UBS Farquhar Murray - Autonomous Anthony Yang - Goldman Sachs Farooq Hanif - JPMorgan Michael Huttner - Berenberg Jason Kalamboussis - ING Operator Good morning, ladies and gentlemen.
NN Group CEO David Knibbe discusses the company's full-year results and the financial services industry.
NN Group's market position in Dutch non-life insurance has improved. This will likely boost its profitability and lower the necessary capital requirements. The company will hold a Capital Markets Day in May, and we expect supportive news on the Dutch pension volume growth expectation. Despite low solvency ratios and rising spreads, NN Group's total yield (13%) and discount valuation vs. peers justify a buy rating.
NN Group offers a well-covered 7.5% dividend yield, trading at a low valuation with a P/E of 10.5x and a P/B ratio of 0.58. The company has diversified into Eastern European markets, showing strong growth potential and a solid solvency ratio of 192%. Despite high debt levels, NN's core business benefits from higher interest rates, making it a stable income investment with limited price upside.
NN Group's H1 2024 earnings were positive, with strong commercial momentum and increased sales, supporting its income appeal for long-term investors. Despite a slight decline in operating results, NN Group's net profit rose by 11% YoY, and free cash flows increased by 8% YoY. The company's strong cash flow generation and solid capital position enable attractive shareholder returns, including a high-dividend yield and share buybacks.
NN Group has delivered solid half-year results, which allows them to increase the interim dividend by 14%. The company has a dividend yield close to 8%, and with recurring share buybacks, the total annual shareholder yield is above 10%. NN has a solvency ratio of 192%, a stable credit rating, and a healthy payout ratio, which makes the high dividend also a safe one.
NN Group offers a high dividend yield that is sustainable over the long term. The company operates in multiple European countries and Japan, with a focus on life insurance. NN Group's financial results have been positive, with an increase in insurance income and operating result in 2023.
Despite the increase in share price, NN Group still has the potential to be an excellent dividend growth investment. NN appears to be well positioned to benefit from expanding their insurance activities in Europe and the new Dutch pension system. The company generates enough capital to reward their shareholders with a total shareholder yield of at least 9.4% in the form of a growing dividend and share buybacks.
Dutch insurer Achmea has held early stage discussions about a potential sale of its life insurance operations, including with rivals NN Group and Apollo Global Management-backed Athora, four people familiar with the matter told Reuters.
After the settlement as a result of the unit-linked insurance policies, the risk/reward profile for NN has improved again. NN has a strong financial position, which enables them to return lots of cash to shareholders. The company offers an attractive total shareholder return of +10% through growing dividends and share buybacks.
NN Group's settlement of unit-linked mis-selling claims removes a significant overhang and is positive for the company's re-rating. NN Group shareholders will benefit from the company's payout policy: higher dividend and opportunistic buyback. Compelling valuation compared to its closest peers versus its five-year historical average. Our buy rating is confirmed.
NN Group has experienced growth and increased shareholder returns since its spin-off from ING Group. Ongoing litigation regarding unit-linked securities has significantly affected NN Group's share price. The company faces uncertainty and potential provisions for litigation, which will be clarified in the 2H23 results presentation in February 2024.
NN Group is a Dutch insurance company that offers an attractive total shareholder return of around 10% annually. The fundamentals of the company have significantly improved due to a higher than expected operating capital generation and a better solvency ratio. Due to the improved financials, it shouldn't be a problem for NN Group to stay committed to their dividend growth policy.
NN Group N.V. (OTCPK:NNGPF) Q2 2023 Results Conference Call August 29, 2023 1:00 AM ET Company Participants David Knibbe - CEO Annemiek van Melick - CFO Conference Call Participants Cor Kluis - ABN Amro ODDO BHF Farooq Hanif - JPMorgan Bernhard Kaufmann - CRO David Barma - Bank of America Nasib Ahmed - UBS Michael Huttner - Berenberg Andrew Baker - Citi Benoit Petrarque - Kepler Cheuvreux Ashik Musaddi - Morgan Stanley Jason Kalamboussis - ING Anthony Yang - Goldman Sachs Iain Pearce - Exane BNP Paribas Michele Ballatore - KBW Farquhar Murray - Autonomous Henry Heathfield - Morningstar Steven Haywood - HSBC Operator Good morning, ladies and gentlemen.
NN Group is a Dutch insurance company that offers an attractive dividend yield of 8.37% and is undervalued based on the Chowder score and Gordon's Growth Model. The company has a strong balance sheet, good solvency ratio, and plans to steadily grow its dividend and continue share buybacks. Investment risks include enduring inflation, geopolitical friction, and competition from non-traditional insurance companies.
NN Group is a large Dutch insurance company with in excess of 200B EUR in assets. It also operates a (small) bank. The insurance company had in excess of 100B EUR in the securities available for sale portfolio in 2021, this dropped to 81B EUR in 2022.
NN Group is a Dutch insurance company focused on the Life segment in the Netherlands. It has a relatively stable business model and a strong capitalization, allowing it to provide an attractive shareholder remuneration policy.