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Banca Generali

BIT:BGN
Snowflake Description

6 star dividend payer with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BGN
BIT
€2B
Market Cap
  1. Home
  2. IT
  3. Diversified Financials
Company description

Banca Generali S.p.A. distributes financial products and services for affluent and private customers through financial advisors primarily in Italy. The last earnings update was 29 days ago. More info.


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  • Banca Generali has significant price volatility in the past 3 months.
BGN Share Price and Events
7 Day Returns
7.7%
BIT:BGN
1.4%
IT Capital Markets
1.5%
IT Market
1 Year Returns
-12.9%
BIT:BGN
-18%
IT Capital Markets
-23.9%
IT Market
BGN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banca Generali (BGN) 7.7% -16.8% -29.8% -12.9% -19% -34.2%
IT Capital Markets 1.4% -17.9% -33.7% -18% -44.3% -70.6%
IT Market 1.5% -16.5% -27.1% -23.9% -19.6% -50.8%
1 Year Return vs Industry and Market
  • BGN outperformed the Capital Markets industry which returned -18% over the past year.
  • BGN outperformed the Market in Italy which returned -23.9% over the past year.
Price Volatility
BGN
Industry
5yr Volatility vs Market

BGN Value

 Is Banca Generali undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Banca Generali to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Banca Generali.

BIT:BGN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= €8.18 * 23.9%
€1.95
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. €8.18
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year IT Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BIT:BGN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 8.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.749 (1 + (1- 24%) (0.36%))
1.124
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.21% + (1.124 * 8.23%)
10.46%

Discounted Cash Flow Calculation for BIT:BGN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banca Generali is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BIT:BGN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (23.9% – 10.46%) * €8.18)
€1.10
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €1.10 / (10.46% - 1.21%)
€11.88
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €8.18 + €11.88
€20.05
BIT:BGN Discount to Share Price
Calculation Result
Value per share (EUR) From above. €20.05
Current discount Discount to share price of €20.60
= -1 x (€20.60 - €20.05) / €20.05
-2.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Banca Generali is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Banca Generali's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banca Generali's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:BGN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €2.07
BIT:BGN Share Price ** BIT (2020-04-07) in EUR €20.6
Italy Capital Markets Industry PE Ratio Median Figure of 9 Publicly-Listed Capital Markets Companies 35.07x
Italy Market PE Ratio Median Figure of 248 Publicly-Listed Companies 13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Banca Generali.

BIT:BGN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:BGN Share Price ÷ EPS (both in EUR)

= 20.6 ÷ 2.07

9.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banca Generali is good value based on earnings compared to the IT Capital Markets industry average.
  • Banca Generali is good value based on earnings compared to the Italy market.
Price based on expected Growth
Does Banca Generali's expected growth come at a high price?
Raw Data
BIT:BGN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-2.4%per year
Europe Capital Markets Industry PEG Ratio Median Figure of 52 Publicly-Listed Capital Markets Companies 1.03x
Italy Market PEG Ratio Median Figure of 157 Publicly-Listed Companies 0.92x

*Line of best fit is calculated by linear regression .

BIT:BGN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.95x ÷ -2.4%

-4.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banca Generali earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Banca Generali's assets?
Raw Data
BIT:BGN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €6.79
BIT:BGN Share Price * BIT (2020-04-07) in EUR €20.6
Italy Capital Markets Industry PB Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 0.96x
Italy Market PB Ratio Median Figure of 322 Publicly-Listed Companies 1.16x
BIT:BGN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:BGN Share Price ÷ Book Value per Share (both in EUR)

= 20.6 ÷ 6.79

3.03x

* Primary Listing of Banca Generali.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banca Generali is overvalued based on assets compared to the IT Capital Markets industry average.
X
Value checks
We assess Banca Generali's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Banca Generali has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BGN Future Performance

 How is Banca Generali expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banca Generali expected to grow at an attractive rate?
  • Banca Generali's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Banca Generali's earnings are expected to decrease over the next 1-3 years, this is below the Italy market average.
  • Banca Generali's revenue growth is expected to exceed the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:BGN Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:BGN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -2.4%
BIT:BGN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1%
Europe Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Italy Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Italy Market Revenue Growth Rate Market Cap Weighted Average -0%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BIT:BGN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:BGN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 583 255 5
2021-12-31 550 256 233 6
2020-12-31 521 231 217 6
2020-04-07
BIT:BGN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 571 -2,014 272
2019-09-30 545 240
2019-06-30 516 -1,681 220
2019-03-31 488 198
2018-12-31 465 -739 180
2018-09-30 486 193
2018-06-30 476 -1,018 189
2018-03-31 483 197
2017-12-31 488 -408 204
2017-09-30 405 185
2017-06-30 430 -360 197
2017-03-31 427 183

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banca Generali's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Banca Generali's revenue is expected to grow by 1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BIT:BGN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Banca Generali Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:BGN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 2.11 2.54 1.80 5.00
2021-12-31 1.97 2.28 1.67 7.00
2020-12-31 1.74 2.06 1.33 8.00
2020-04-07
BIT:BGN Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31
2019-09-30 2.07
2019-06-30 1.90
2019-03-31 1.71
2018-12-31 1.56
2018-09-30 1.66
2018-06-30 1.62
2018-03-31 1.69
2017-12-31 1.75
2017-09-30 1.59
2017-06-30 1.69
2017-03-31 1.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Banca Generali is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Banca Generali's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Banca Generali has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BGN Past Performance

  How has Banca Generali performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Banca Generali's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Banca Generali's year on year earnings growth rate has been positive over the past 5 years.
  • Banca Generali's 1-year earnings growth exceeds its 5-year average (51.1% vs 5.6%)
  • Banca Generali's earnings growth has exceeded the IT Capital Markets industry average in the past year (51.1% vs -13.8%).
Earnings and Revenue History
Banca Generali's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Banca Generali Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:BGN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 570.70 272.10 289.90
2019-09-30 544.92 240.31 207.26
2019-06-30 516.35 220.36 200.25
2019-03-31 487.88 197.70 193.98
2018-12-31 464.57 180.13 190.71
2018-09-30 485.52 192.60 224.85
2018-06-30 475.55 188.59 221.45
2018-03-31 482.78 196.93 195.65
2017-12-31 487.95 204.11 181.98
2017-09-30 404.59 184.63 179.02
2017-06-30 430.31 196.67 177.39
2017-03-31 426.56 182.71 160.39
2016-12-31 401.57 155.89 177.63
2016-09-30 420.02 156.05 185.71
2016-06-30 370.12 130.74 173.20
2016-03-31 447.65 139.85 184.90
2015-12-31 459.32 203.56 173.09
2015-09-30 447.31 192.28 161.87
2015-06-30 476.15 212.41 159.13
2015-03-31 410.27 211.60 168.80
2014-12-31 408.34 157.85 156.98
2014-09-30 418.54 166.63 151.49
2014-06-30 398.62 153.17 135.31
2014-03-31 369.27 140.55 144.80
2013-12-31 361.13 136.70 143.35
2013-09-30 346.22 133.63 127.93
2013-06-30 347.28 131.09 155.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Banca Generali has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Banca Generali used its assets more efficiently than the IT Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Banca Generali improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Banca Generali's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Banca Generali has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BGN Health

 How is Banca Generali's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Banca Generali's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Banca Generali's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Banca Generali's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Banca Generali's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are -27.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Banca Generali Company Filings, last reported 3 months ago.

BIT:BGN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 917.60 8.70 2,843.80
2019-09-30 791.48 80.25 3,297.91
2019-06-30 734.71 67.85 925.00
2019-03-31 808.29 64.19 2,328.53
2018-12-31 734.88 174.21 1,264.33
2018-09-30 677.11 115.22 2,227.47
2018-06-30 649.43 603.49 931.53
2018-03-31 792.35 662.71 4,490.36
2017-12-31 736.07 673.71 679.25
2017-09-30 667.12 806.76 125.18
2017-06-30 626.38 931.41 420.54
2017-03-31 680.61 1,055.02 223.35
2016-12-31 646.52 818.74 657.06
2016-09-30 618.49 1,022.64 162.86
2016-06-30 556.00 948.34 485.85
2016-03-31 658.83 478.92 29.32
2015-12-31 636.80 371.05 131.20
2015-09-30 590.14 380.04 77.47
2015-06-30 544.74 278.46 244.37
2015-03-31 633.76 271.22 193.30
2014-12-31 536.31 269.01 113.37
2014-09-30 510.28 340.59 474.66
2014-06-30 470.44 657.67 703.44
2014-03-31 528.44 910.00 441.75
2013-12-31 469.13 1,218.58 253.40
2013-09-30 414.02 1,156.88 50.15
2013-06-30 371.65 920.16 516.07
  • Banca Generali's level of debt (-16%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (50.1% vs -16% today).
  • Debt is well covered by operating cash flow (1368.1%, greater than 20% of total debt).
  • Banca Generali has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Banca Generali's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Banca Generali has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BGN Dividends

 What is Banca Generali's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.98%
Current annual income from Banca Generali dividends. Estimated to be 7.26% next year.
If you bought €2,000 of Banca Generali shares you are expected to receive €180 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Banca Generali's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.29%).
  • Banca Generali's dividend is above the markets top 25% of dividend payers in Italy (5.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BIT:BGN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Europe Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 103 Stocks 4.5%
Italy Market Average Dividend Yield Market Cap Weighted Average of 165 Stocks 5.2%
Italy Minimum Threshold Dividend Yield 10th Percentile 1.3%
Italy Bottom 25% Dividend Yield 25th Percentile 2.3%
Italy Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BIT:BGN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.60 6.00
2021-12-31 1.54 7.00
2020-12-31 1.39 9.00
2020-04-07
BIT:BGN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-09 1.850 9.842
2019-03-27 1.250 4.611
2019-02-07 1.250 5.769
2018-03-01 1.250 5.729
2017-05-02 1.070 3.793
2016-04-22 1.200 5.667
2015-04-01 0.980 3.560
2015-03-10 0.980 3.473
2014-03-10 0.950 4.336
2013-03-11 0.900 4.917
2012-07-25 0.550 4.759
2012-04-03 0.550 6.394
2012-03-13 0.550 5.403
2011-03-10 0.550 6.674
2010-04-21 0.450 5.153
2009-04-21 0.060 0.885

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Banca Generali's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Banca Generali's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Banca Generali afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banca Generali has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BGN Management

 What is the CEO of Banca Generali's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gian Mossa
COMPENSATION €10,397
AGE 45
TENURE AS CEO 4 years
CEO Bio

Mr. Gian Maria Mossa has been the Chief Executive Officer of Banca Generali S.p.A. since March 2017. Mr. Mossa has been General Manager since March 23, 2017. Mr. Mossa served as General Manager of Banca Generali S.p.A. since April 1, 2016 until March 2017 and served as a Deputy General Manager of FA until March 2017. Mr. Mossa served as a Joint General Manager of Commercial Area at Banca Generali S.p.A. from July 2013 to April 1, 2016. Mr. Mossa served as a Marketing Director of Business and Private Banking Development at Banca Fideuram S.p.A. He serves as Director of Banca Generali S.p.A.

CEO Compensation
  • Insufficient data for Gian to compare compensation growth.
  • Gian's remuneration is lower than average for companies of similar size in Italy.
Management Team Tenure

Average tenure and age of the Banca Generali management team in years:

4.1
Average Tenure
49.5
Average Age
  • The tenure for the Banca Generali management team is about average.
Management Team

Giancarlo Fancel

TITLE
President & Chairman of the Board
COMPENSATION
€24K
AGE
58
TENURE
4.3 yrs

Gian Mossa

TITLE
GM, CEO & Director
COMPENSATION
€10K
AGE
45
TENURE
4 yrs

Tommaso Russo

TITLE
Head of Strategy
AGE
55
TENURE
3 yrs

Riccardo Renna

TITLE
Chief Operating Officer and Head of Business Development & Support Department
AGE
44
TENURE
3.8 yrs

Giuliana Pagliari

TITLE
Head of Investor Relations
AGE
52
TENURE
12.1 yrs

Luca Giaimo

TITLE
Head of the Compliance Service
AGE
44
TENURE
6.9 yrs

Domenica Lista

TITLE
General Counsel & Secretary to the Board
AGE
46
TENURE
3.8 yrs

Barbara Malagutti

TITLE
Head of Marketing
AGE
49
TENURE
13.2 yrs

Alessandra Rizzi

TITLE
Head of Human Resources
AGE
50
TENURE
3.6 yrs

Francesco Barraco

TITLE
Head of the Internal Audit
AGE
58
TENURE
16.5 yrs
Board of Directors Tenure

Average tenure and age of the Banca Generali board of directors in years:

5
Average Tenure
54
Average Age
  • The tenure for the Banca Generali board of directors is about average.
Board of Directors

Gian Mossa

TITLE
GM, CEO & Director
COMPENSATION
€10K
AGE
45

Giovanni Brugnoli

TITLE
Non-Executive Director
COMPENSATION
€72K
AGE
49
TENURE
8 yrs

Giancarlo Fancel

TITLE
President & Chairman of the Board
COMPENSATION
€24K
AGE
58
TENURE
4.3 yrs

Anna Gervasoni

TITLE
Non-Executive Director
COMPENSATION
€78K
AGE
58
TENURE
8 yrs

Massimo Lapucci

TITLE
Non-Executive Director
COMPENSATION
€52K
AGE
50
TENURE
5 yrs

Massimo Cremona

TITLE
Chairman of Board of Statutory Auditors
AGE
60

Cristina Rustignoli

TITLE
Non-Executive Non-Independent Director
AGE
53
TENURE
3.8 yrs

Annalisa Pescatori

TITLE
Non-Executive Director
COMPENSATION
€54K
AGE
55
TENURE
5 yrs

Vittorio Terzi

TITLE
Non-Executive Director
COMPENSATION
€52K
AGE
65
TENURE
5 yrs

Azzurra Caltagirone

TITLE
Non-Executive & Non-Independent Director
AGE
46
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Banca Generali's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Banca Generali has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BGN News

Simply Wall St News

Does Market Volatility Impact Banca Generali S.p.A.'s (BIT:BGN) Share Price?

(BIT:BGN), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. … What this means for you: Beta only tells us that the Banca Generali share price is sensitive to broader market movements.

Simply Wall St -

What To Know Before Buying Banca Generali S.p.A. (BIT:BGN) For Its Dividend

BIT:BGN Historical Dividend Yield, August 2nd 2019 Payout ratios Dividends are usually paid out of company earnings. … For the purpose of this article, we only scrutinise the last decade of Banca Generali's dividend payments. … Conclusion To summarise, shareholders should always check that Banca Generali's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Banca Generali S.p.A. (BIT:BGN) Is A Real Dividend Rock Star - Here Is Why

More specifically: It is paying an annual yield above 75% of dividend payers It consistently pays out dividend without missing a payment or significantly cutting payout Its has increased its dividend per share amount over the past It is able to pay the current rate of dividends from its earnings It has the ability to keep paying its dividends going forward High Yield And Dependable The company's dividend yield stands at 4.7%, which is on the low-side for Capital Markets stocks. … BIT:BGN Historical Dividend Yield, July 15th 2019 Reliability is an important factor for dividend stocks, particularly for income investors who want a strong track record of payment and a positive outlook for future payout. … Next Steps: Banca Generali's strong dividend attributes make it, without a doubt, a stock dividend investors should be considering for their portfolios.

Simply Wall St -

Update: Banca Generali (BIT:BGN) Stock Gained 20% In The Last Three Years

There will continue to be wide discrepancies between price and value in the marketplace...' One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Banca Generali achieved compound earnings per share growth of 12% per year. … As it happens, Banca Generali's TSR for the last 3 years was 38%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Should Banca Generali S.p.A. (BIT:BGN) Be Your Next Stock Pick?

For those interested in digger a bit deeper into my commentary, take a look at the report on Banca Generali here. … BIT:BGN Historical Dividend Yield, May 22nd 2019 Next Steps: For Banca Generali, there are three relevant aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for BGN’s future growth? … Take a look at our free research report of analyst consensus for BGN’s outlook.

Simply Wall St -

What Does Banca Generali S.p.A.'s (BIT:BGN) Share Price Indicate?

With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … However, could the stock still be trading at a relatively cheap price … Let’s take a look at Banca Generali’s outlook and value based on the most recent financial data to see if the opportunity still exists.

Simply Wall St -

How Does Banca Generali S.p.A. (BIT:BGN) Affect Your Portfolio Volatility?

(BIT:BGN), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

How Do Analysts See Banca Generali S.p.A. (BIT:BGN) Performing In The Next 12 Months?

Based on Banca Generali S.p.A.'s (BIT:BGN) earnings update on 31 December 2018, … as a 9.0% increase in profits is expected in the upcoming year, … the past 5-year average growth rate of 4.1%.

Simply Wall St -

Will Banca Generali S.p.A.'s (BIT:BGN) Earnings Grow Over The Next Few Years?

Banca Generali S.p.A.'s (BIT:BGN) released its most recent earnings update in December 2018, whicha

Simply Wall St -

Volatility 101: Should Banca Generali Shares Have Dropped 21%?

(BIT:BGN) share price is down 21% in the last year. … Unhappily, the share price slid 1.9% in the last week. … Unfortunately Banca Generali reported an EPS drop of 11% for the last year.

Simply Wall St -

BGN Company Info

Description

Banca Generali S.p.A. distributes financial products and services for affluent and private customers through financial advisors primarily in Italy. The company operates through Wealth Management CGU, Private Banking CGU, and Corporate Center segments. It offers asset management products, such as portfolio management, mutual funds, and SICAVs; banking products and services; insurance products, including life insurance and retirement investment products; and tools to manage securities portfolios and trade financial instruments, as well as short-term investment products comprising repurchase agreements. The company operates 212 bank branches and financial advisor offices. The company was founded in 1997 and is headquartered in Trieste, Italy. Banca Generali S.p.A. is a subsidiary of Assicurazioni Generali S.p.A.

Details
Name: Banca Generali S.p.A.
BGN
Exchange: BIT
Founded: 1997
€2,389,771,309
116,008,316
Website: http://www.bancagenerali.com
Address: Banca Generali S.p.A.
Via Machiavelli,
Trieste,
34132,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT BGN Ordinary Shares Borsa Italiana IT EUR 15. Nov 2006
DB B7A Ordinary Shares Deutsche Boerse AG DE EUR 15. Nov 2006
LSE 0DQZ Ordinary Shares London Stock Exchange GB EUR 15. Nov 2006
WBAG BGN Ordinary Shares Wiener Boerse AG AT EUR 15. Nov 2006
BATS-CHIXE BGNM Ordinary Shares BATS 'Chi-X Europe' GB EUR 15. Nov 2006
Number of employees
Current staff
Staff numbers
960
Banca Generali employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:22
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/03/09
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.