Sampo: Target price revised with dividend payment
Our target price is also in line with the company’s sum of the parts. Our estimates remain unchanged and we expect stable and good earnings development from Sampo in the next few years. The share’s expected return in the next few years consists of secure and evenly growing dividend flow and a slight discount compared to the sum of the parts. The expected return is not particularly high, but we feel that it is still very sufficient considering Sampo's low risk profile. In addition, Sampo is one of the few companies benefiting from interest rate increases and we consider the company a good choice in the current challenging investment environment.
Sampo
Sampo Group 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.
Read more on company pageKey Estimate Figures22.05.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 9,746.0 | 10,248.4 | 9,577.2 |
growth-% | 15.86 % | 5.16 % | -6.55 % |
EBIT (adj.) | 2,190.0 | 1,835.1 | 1,593.0 |
EBIT-% (adj.) | 22.47 % | 17.91 % | 16.63 % |
EPS (adj.) | 2.86 | 2.46 | 2.25 |
Dividend | 4.09 | 1.80 | 2.88 |
Dividend % | 10.21 % | 4.65 % | 7.47 % |
P/E (adj.) | 14.01 | 15.72 | 17.18 |
EV/EBITDA | 6.78 | 9.78 | 10.46 |