reports
- Håkon Astrup
DNB (No_rec, TP: NOK) - ROE and fee income targets raised
At its 2024 CMD, DNB raised its ROE target from >13% to >14% for 2025–2027. Targeting a CET1 ratio of >16.7% (supervisory expectation), the bank kept its dividend policy of nominally increasing cash dividends, a >50% payout ratio and share buybacks to optimise its capital position. While it continues to target 3–4% annual lending growth and a 9% (previously 4–5%).
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- Magnus Andersson
- Patrik Brattelius
Alm. Brand A/S - Ugentlig rapportering om aktietilbagekøb
Alm. Brand A/S - Ugentlig rapportering om aktietilbagekøb Aktietilbagekøbsprogram i Alm. Brand A/S Transaktioner 11. november 2024 – 15. november 2024Alm. Brand A/S offentliggjorde i selskabsmeddelelse nr. 40/2024 et aktietilbagekøbsprogram på op til 150 mio. kr. Aktietilbagekøbsprogrammet blev igangsat den 15. august 2024. Den 7. november 2024, offentliggjorde Alm. Brand A/S en forhøjelse af det eksisterende aktietilbagekøbsprogram med 70 mio. kr. til 220 mio. kr. med henblik på køb af aktier til aktieløn for medarbejdere i 2025. Programmet blev samtidigt forlænget indtil og inklusive d....
Alm. Brand A/S – Weekly report on share buybacks
Alm. Brand A/S – Weekly report on share buybacks Alm. Brand A/S share buy-back program Transactions during 11 November 2024 – 15 November 2024On 15 August 2024, Alm. Brand A/S announced a share buy-back program of up to DKK 150 million, as described in company announcement no. 40/2024. On 7 November 2024, Alm. Brand A/S announced an increase of the existing share buy-back program by DKK 70 million to DKK 220 million with the intention of purchasing shares for the employee share scheme in 2025. Additionally, the program was extended until and including 31 January 2025. The program is carri...
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- Magnus Andersson
- Patrik Brattelius
Alm. Brand - Indberetning af ledende medarbejderes og disses nærtståen...
Alm. Brand - Indberetning af ledende medarbejderes og disses nærtståendes transaktioner med Alm. Brand A/S aktier Alm. Brand - Indberetning af ledende medarbejderes og disses nærtståendes transaktioner med Alm. Brand A/S aktier I henhold til EU-forordning 596/2014 artikel 19 skal Alm. Brand A/S hermed indberette oplysninger om ledende medarbejderes og disses nærtståendes transaktioner med Alm. Brand A/S aktier eller andre værdipapirer, som er knyttet til disse aktier. Se vedhæftede indberetning. KontaktMads Thinggaard - Head of IR, Rating & ESG Repo...
Alm. Brand – Report on trading in Alm. Brand A/S shares by executives ...
Alm. Brand – Report on trading in Alm. Brand A/S shares by executives and their related parties Alm. Brand – Report on trading in Alm. Brand A/S shares by executives and their related parties Pursuant to article 19 of the EU Regulation 596/2014 and Alm. Brand A/S is required to publish information on trading in shares in Alm. Brand A/S or other securities related to these shares by executives and their related parties. Please see attached report. Contact Please direct any questions regarding this announcement to: Mads Thinggaard - Head of IR, Rating...
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
Alm. Brand A/S – Weekly report on share buybacks
Alm. Brand A/S – Weekly report on share buybacks Alm. Brand A/S share buy-back program Transactions during 4 November 2024 – 8 November 2024On 15 August 2024, Alm. Brand A/S announced a share buy-back program of up to DKK 150 million, as described in company announcement no. 40/2024. On 7 November 2024, Alm. Brand A/S announced an increase of the existing share buy-back program by DKK 70 million to DKK 220 million with the intention of purchasing shares for the employee share scheme in 2025. Additionally, the program was extended until and including 31 January 2025. The program is carried...
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- Håkon Astrup
Alm. Brand (Buy, TP: DKK15.00) - Focus on profitability into 2025
A strong investment result and benign weather helped support significantly stronger PTP in Q3 YOY. Following several rounds of customer repricing, insurance revenues increased by 4% YOY and the underlying claims ratio by 0.4%-points YOY. Although growth was again hampered by Commercial’s profitability initiatives, we still expect improved underwriting ahead, supported by remaining identified synergies. With our 2025–2026e EPS largely unchanged, we reiterate our BUY and DKK15 target price.
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
Alm. Brand A/S - Delårsrapport for 3. kvartal 2024
Alm. Brand A/S - Delårsrapport for 3. kvartal 2024 Tilfredsstillende kvartalsresultat fører til opjustering på 100 mio. kr. af resultatet før skat og særlige omkostninger Forsikringsresultatet for 3. kvartal 2024 blev et overskud på 400 mio. kr. (3. kvt. 2023: 366 mio. kr.), svarende til en Combined Ratio på 85,7 (3. kvt. 2023: 86,4), drevet af en fortsat positiv udvikling i Privat, mens Erhverv var præget af et højere skadesniveauForventningen til forsikringsresultatet for året opjusteres med 50 mio. kr. til 1,25-1,35 mia.kr. ekskl. afløbsresultatet for 4. kvartalForsikringsindtægterne s...
Alm. Brand A/S - Interim report for Q3 2024
Alm. Brand A/S - Interim report for Q3 2024 Satisfactory Q3 profit leading to DKK 100 million upgrade of profit before tax and excluding special costs The insurance service result for Q3 2024 was a profit of DKK 400 million (Q3 2023: DKK 366 million), corresponding to a combined ratio of 85.7 (Q3 2023: 86.4), driven by sustained favourable developments in Personal Lines, while Commercial Lines were impacted by a higher claims levelThe guidance for the full-year insurance service result is lifted by DKK 50 million to DKK 1.25-1.35 billion excluding the run-off result for Q4Insurance reve...
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- Håkon Astrup
DNB (No_rec, TP: NOK) - Focus on key 2027 financial targets
With 2022–2024 YTD ROEs of ~15–17%, DNB has continuously hit its >13% target set in 2022, with ample headroom. While expecting some margin pressure, we believe still-high interest rates, capital-light revenue momentum and robust asset quality bode well for continued strong earnings generation. At the CMD scheduled for 19 November, we expect the main focus to be on the new financial targets towards 2027, and see scope for its ROE target to be raised to >14%.
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.