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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Life Insurance Co., Ltd.    A032830   KR7032830002

SAMSUNG LIFE INSURANCE CO., LTD.

(A032830)
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Lee's death sparks hope for Samsung shake-up, dividends

10/25/2020 | 07:46pm EST

* Investors hope for moves to pay inheritance tax-analysts

* Around $9 bln in tax estimated for stockholdings alone

* Samsung C&T key in controlling Samsung Elec-analysts

SEOUL, Oct 26 (Reuters) - Shares in Samsung Electronics Co Ltd and affiliates rose on Monday after the death a day earlier of Chairman Lee Kun-hee sparked hopes for stake sales, higher dividends and long-awaited restructuring, analysts said.

Investors are betting that the imperatives of maintaining Lee family control and paying inheritance tax - estimated at about 10 trillion won ($8.9 billion) for listed stockholdings alone - will be the catalyst for change, although analysts are divided on what form that change will take.

Shares in Samsung C&T and Samsung Life Insurance closed up 13.5% at a two-month high and 3.8%, respectively, while shares in Samsung SDS also rose. Samsung Electronics - the jewel in the group's crown - finished 0.3% higher.

Son and heir apparent Jay Y. Lee has a 17.3% stake in Samsung C&T, the de facto holding firm, while the late Lee was the top shareholder of Samsung Life with 20.76% stake.

"The inheritance tax is outrageous, so family members might have no choice but to sell stakes in some non-core firms" such as Samsung Life, said NH Investment Securities analyst Kim Dong-yang.

"It may be likely for Samsung C&T to consider increasing dividends for the family to cover such a high inheritance tax," KB Securities analyst Jeong Dong-ik said.

Lee, 78, died on Sunday, six years after he was hospitalised due to heart attack in 2014. Since then, Samsung carried out a flurry of stake sales and restructuring to streamline the sprawling conglomerate and cement the junior Lee's control.

Investors have long anticipated a further shake-up in the event of Lee's death, hoping for gains from restructuring to strengthen de facto holding company Samsung C&T's control of Samsung Electronics, such as Samsung C&T buying an affiliate's stake in the tech giant.

"At this point, it is difficult to expect when Samsung Group will kick off with a restructuring process as Jay Y. Lee is still facing trials, making it difficult for the group's management to begin organisational changes," Jeong said.

Lee is in two trials for suspected accounting fraud and stock price manipulation, as well as for his role in a bribery scandal that triggered the impeachment of former South Korean President Park Geun-hye. The second trial resumed hearings on Monday.

Lee did not attend the trial on Monday, as Samsung executives joined other business and political leaders for the second day of funeral services for his father. ($1 = 1,129.1800 won) (Reporting by Joyce Lee and Hyunjoo Jin; Additional reporting by Heekyong Yang and Daewoung Kim; Editing by Stephen Coates)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
NH INVESTMENT & SECURITIES CO., LTD. 0.89% 11300 End-of-day quote.-11.02%
SAMSUNG BIOLOGICS CO.,LTD. -0.25% 802000 End-of-day quote.85.22%
SAMSUNG C&T CORPORATION 2.45% 125500 End-of-day quote.15.67%
SAMSUNG ELECTRONICS CO., LTD. 0.30% 67700 End-of-day quote.21.33%
SAMSUNG ENGINEERING CO., LTD. 2.60% 13800 End-of-day quote.-28.13%
SAMSUNG LIFE INSURANCE CO., LTD. 0.53% 75400 End-of-day quote.1.21%
SAMSUNG SDS CO.,LTD. 0.28% 179000 End-of-day quote.-7.97%
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10/27How Samsung's ownership may change as heirs take over from late Chairman Lee
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10/26REPORT : Lee Jae-yong likely successor to Samsung Group
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10/26Lee's death sparks hope for Samsung shake-up, dividends
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10/25Lee's death sparks hope for Samsung shake-up, dividends
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10/25SAMSUNG'S LEE : tainted titan who built a global tech giant
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10/25Lee Kun-hee, who made South Korea's Samsung a global powerhouse, dies at 78
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10/25FACTBOX : Samsung's Lee leaves behind $21 billion wealth for inheritance
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05/12SAMSUNG LIFE INSURANCE CO., LTD. : quaterly earnings release
More news
Financials
Sales 2020 17 071 B 15,4 B 15,4 B
Net income 2020 1 120 B 1,01 B 1,01 B
Net Debt 2020 - - -
P/E ratio 2020 12,3x
Yield 2020 3,52%
Capitalization 13 540 B 12 185 M 12 213 M
Capi. / Sales 2020 793x
Capi. / Sales 2021 794x
Nbr of Employees 5 122
Free-Float 36,1%
Chart SAMSUNG LIFE INSURANCE CO., LTD.
Duration : Period :
Samsung Life Insurance Co., Ltd. Technical Analysis Chart | A032830 | KR7032830002 | MarketScreener
Technical analysis trends SAMSUNG LIFE INSURANCE CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 73 222,22 KRW
Last Close Price 75 400,00 KRW
Spread / Highest target 30,0%
Spread / Average Target -2,89%
Spread / Lowest Target -33,7%
EPS Revisions
Managers
NameTitle
Young-Muk Jeon President, Chief Executive Officer & Director
Kyung-Bok Lee Managing Director, Head-Finance & Economy
Won-Hak Hong Director
Ho-Seok Yoo Director
Kyung-Wook Heo Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
SAMSUNG LIFE INSURANCE CO., LTD.1.21%12 067
AXA-24.47%53 404
PRUDENTIAL PLC-12.70%43 684
METLIFE, INC.-7.46%42 451
MANULIFE FINANCIAL CORPORATION-18.44%32 167
AFLAC INCORPORATED-15.97%31 224