SAMPO Sampo Oyj Class A

Sammon uusi osinkopolitiikka

Sammon uusi osinkopolitiikka

SAMPO OYJ                                              SISÄPIIRITIETO                   6.2.2020 klo 9.30

Sammon uusi osinkopolitiikka

Sampo Oyj:n hallitus on tänään hyväksynyt uuden osinkopolitiikan, jonka mukaan maksettujen osinkojen kokonaismäärä on vähintään 70 prosenttia konsernin vuotuisesta nettotuloksesta (satunnaiset erät pois lukien). Osingonjaon lisäksi voidaan ostaa Sampo Oyj:n omia osakkeita.

Aiemman osinkopolitiikan mukaan yhtiö pyrki maksamaan osinkona vähintään 50 prosenttia konsernin vuotuisesta nettotuloksesta (satunnaiset erät pois lukien) ja saattoi lisäksi ostaa omia osakkeitaan.



SAMPO OYJ

Hallitus

Jakelu:

Nasdaq Helsinki

Lontoon pörssi

Keskeiset tiedotusvälineet

Finanssivalvonta

EN
06/02/2020

Underlying

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Reports on Sampo Oyj Class A

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR10.20) - Strong underwriting momentum

Although Q1 PTP declined by 19% YOY to EUR377m, due to a lower investment result, Sampo continued to see strong underwriting momentum, with 9% YOY GWP growth (in local FX) and a 2.5%-points stronger underlying combined ratio YOY. Based on a better synergy outlook from the integration of Topdanmark, it increased its cost improvement guidance. We have raised our 2026–2027e EPS by ~1% on higher growth and ongoing underwriting improvements. We have raised our target price to EUR10.2 (9.8), and reite...

Håkon Astrup
  • Håkon Astrup

Solid growth momentum into 2025e

Helped by benign weather with few storms, we expect solid underwriting across the Nordic P&C sector for Q1, with underlying performance further supported by earned repricing momentum and abating claims inflation. The sector is trading at an attractive average 2026e P/E of c15.2x and we see solid capital distribution prospects. We reiterate our recommendations on all our covered sector names and highlight Tryg as our top pick.

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR9.80) - Minor model adjustments

We have adjusted our estimates to reflect the now completed 4-to-1 share split announced by the board on 5 February. While we forecast unchanged earnings, we have revised our 2025–2027e EPS and DPS due to the increased share count. We do not consider these changes to be material, and we have not changed our BUY recommendation. We have adjusted our target price to EUR9.80 (49).

Sampo: 1 director

A director at Sampo bought 7,500 shares at 41.097EUR 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 ...

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR49.00) - Strong underwriting momentum

Against a backdrop of soft financial markets and one-off integration costs, Sampo continues to deliver a solid underwriting performance, with the Q4 adjusted risk ratio improving by 0.3%-points YOY, helped by currency-adjusted GWP growth of 18% YOY. We believe the company’s efforts to mitigate claims inflation and increased frequencies should support growth and earnings, in line with the ambitions from the 2024 CMD, and have raised our 2025–2026e EPS by ~1%. We reiterate our BUY and have raised ...

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