NN NA (Update)

NN Group N.V.

Finance/Real Estate


Presented:11/05/2014
Price:€23.70
Cap:N/A
Current Price:€45.73
Cap:$14.03B

Presented

Date11/05/2014
Price€23.70
Market CapN/A
Ent ValueN/A
P/E RatioN/A
Book Value€48.40
Div YieldN/A
Shares O/S350.01M
Ave Daily Vol160,000
Short IntN/A

Current

Price€45.73
Market Cap$14.03B
NN Group N.V., an insurance and investment management company, provides life and non-life insurance products primarily in the Netherlands, Belgium, rest of Europe, and Asia. The company offers group and individual life insurance; and motor, transport, fire, liability, travel, and income insurance. It also offers retirement, insurance, investments, and banking services to retail, SME, corporate, and institutional customers. The company is based in Amsterdam, the Netherlands. NN Group N.V. is a subsidiary of ING Groep N.V.

Please note, this is an update to LONG — NN Group N.V. (NN NA), which was originally presented on 10/124/14 (€22.34).

Publicly traded companies mentioned herein: NN Group (NN NA).

Highlights

Netherlands based NN Group was recently spun out of ING, and is the leading provider of life and other insurance products in that country. The company also operates a growing European retail asset management business, as well as a couple of other businesses that are currently in liquidation. NN Group is currently trading at a 50% discount to book value, compared to most peers trading at book value or even a slight premium to book. Further, ING continues to own about 70% of the company and will soon begin to dispose of its stake via secondary offerings, representing an overhang on shares. ​

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