contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Matias Arola

Sampo is a Nordic property and casualty insurer operating also in the UK and in the Baltics. In the Nordics, Sampo provides insurance services across all countries, customer segments and products. In the UK, the company offers motor and home insurance for private individuals. The Group is made up of If P&C, Topdanmark, Hastings, and the parent company Sampo plc. Sampo was founded in 1909 and it is headquartered in Helsinki, Finland.

Today’s update from OP. We have previously used 3% as the terminal growth for Sampo’s earnings per share, but the now outlined profit distribution policy could raise the terminal growth to 4.5%. The change is significant in terms of value creation, and our dividend discount model based on this would indicate a fair value of over 13 euros for the share. For now, however, our valuation still relies on valuation multiples derived from peer companies. Target price 10 → 10.4. Available in the OP service under investments, research.

Based on everything argued here and elsewhere, I’m inclined to think the same way—though my comment from January 2020 (my portfolio had just hit a new round ATH figure) comes back to me, while I was reading the news on a tablet in my armchair: “There’s no point in even talking about that ‘coronavirus’…” regarding its economic impact…

Today I took a look at Lemonade and it mostly just made me smile: is that why insurance companies dropped? The company is a loss-making junk firm compared to Sampo and many other insurance companies. The valuation is completely laughable, for example, the P/S ratio. It’s a bit like a pride of lions hitting the canvas after seeing a mouse. I can’t see it as any kind of threat.

In a story picked from the Nordet Feed, it is suspected that the selling pressure from the main owner Solidium in recent years could have negatively affected the valuation level. SAMPO: VALUED LOWER THAN LARGEST COMPETITORS, BUY - AFV STOCKHOLM (Nyhetsbyrån Direkt) Finnish insurance company Sampo’s share is slightly cheaper than before, but there is no question of a fire sale. This is according to Affärsvärlden in an analysis that, despite everything, ends with a buy recommendation. The company’s competitors Tryg and Gjensidige are currently valued at P/E 16.8x and 15.6x respectively, while Sampo is valued at just over P/E 15x based on next year’s earnings. “We find it difficult to find any major quality difference between Sampo and the two other Nordic giants. Possibly, Sampo’s lower valuation could be due to the selling pressure on the share from the former major owner Solidium, which has dumped half its holding in just a few years,” the magazine writes. After the rally of Swedish large-cap companies during the winter, the OMXS30 as a whole is valued at P/E 20x based on next year’s earnings, a race that Sampo has not kept up with at all. Compared to broader alternatives, Sampo, with its qualities, appears to be a truly attractive option, Affärsvärlden writes and recommends buying the share.

Main content:  From a P/E ratio perspective, Sampo is cheaper than Tryg or Gjensidige. There are hardly any grounds for this. The forward-looking average P/E ratio of large-cap companies listed on the Stockholm Stock Exchange is a neck ahead of Sampo. No known reasons for this. Therefore, “buy” – stability for the portfolio at a low price.  Is Sampo starting to gradually climb back towards the €10 mark?                   Affärsvärlden – 25 Feb 26              Sampo: Billig trygghet för portföljen | Affärsvärlden    Försäkringsjätten Sampo är en långsamväxande men stabil pjäs. Just nu framstår värderingen vara något lägre än den egna historiken, de närmsta konkurrenternas och än mer än börsens som helhet. För den som söker ett tryggt alternativ kan Sampo vara...

Ålandsbanken’s Chief Analyst Lars Söderfjell writes about Sampo’s AI disruption: -The market’s general AI hype has turned into fear in many sectors  -Insurance companies have lost 10-20% of their share prices in the AI turbulence  -There are fears that growth and profitability will weaken  -Sampo has lost about 12% of its share price  -The Nordic insurance market is already efficient, and there is a direct (digital) channel between insurance companies and customers  -In the UK, for example, brokers play a significant intermediary role and are likely to face cost-cutting  -Lars Söderfjell still does not believe that among insurance companies, Sampo will be disrupted  -The customer interface of current Nordic insurance market leaders is difficult for newcomers to break into  -However, Lars Söderfjell does not want to downplay the arrival of AI disruption, and it will likely affect markets in many ways. But the structures of strong companies act as a buffer against it.                   Hufvudstadsbladet              KRÖNIKA: Överdriven AI-fobi får marknaderna att darra    Flera faktorer talar för att rädslan är överdriven.

Chairman of the Board has topped up with approximately 100,000 euros Sampo plc: Managers’ transactions (Mäkinen) | Kauppalehti

Sampo

Sampo's Q1 result exceeded our forecast thanks to strong development in If P&C and Mandatum. However, the beat came through certain non-recurring factors and investment income. Thus, the report didn't cause major estimate revisions. 

<p>Sampo's Q1 result exceeded our forecast thanks to strong development in If P&amp;C and Mandatum. However, the beat came through certain non-recurring factors and investment income. Thus, the report didn't cause major estimate revisions. </p> 

	2021	22e	23e
Revenue	9,746.0	10,248.4	9,577.2
growth-%	15.9 %	5.2 %	-6.5 %
EBIT (adj.)	2,190.0	1,835.1	1,593.0
EBIT-% (adj.)	22.5 %	17.9 %	16.6 %
EPS (adj.)	0.52	0.45	0.41
Dividend	0.74	0.33	0.52
Dividend %	9.3 %	3.5 %	5.7 %
P/E (adj.)	15.4	20.7	22.6
EV/EBITDA	7.5	13.2	14.4

Sampo: Still not hopping off

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Key Estimate Figures04.05.2022

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