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Allianz SE ADR ALIZY

Morningstar Rating
$27.22 −0.14 (0.51%)
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Company Report

Allianz Earnings: Beats Our Estimates Due to Better Life and Health Insurance

Allianz has reported results for 2023 with a net profit of EUR 9.1 billion for shareholders or EUR 22.61 in core EPS. Both are above the EUR 8.15 billion and EUR 20.42 that we forecast, though the actual EPS delivery is 2% below company-compiled consensus. After these results, the Allianz board is proposing a EUR 13.8 per-share dividend. This is quite a bit above the EUR 12.79 per share that we estimated. Further, the business has announced another buyback program of up to EUR 1 billion. This will start in March and is set to be completed by the end of December. This is on top of the EUR 1.5 billion buyback program initiated last year, which has been completed. The 2023 results deliver a 15.6% return on equity for shareholders. This is above the 11% cost of equity that we apply to the business.

Price vs Fair Value

ALIZY is trading at a 4% discount.
Price
$27.22
Fair Value
$84.10
Uncertainty
Low
1-Star Price
$56.13
5-Star Price
$52.90
Economic Moat
Byk
Capital Allocation
Zrzrcvtf

Bulls Say, Bears Say

Bulls

Despite the lack of economic profits, Allianz has one of the best-performing property and casualty insurance units in our European insurance coverage.

Bears

The Structured Alphas Funds disaster raised questions over Allianz’s risk management practices and corporate governance standards.

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News

Trading Information

Previous Close Price
$27.36
Day Range
$27.0827.30
52-Week Range
$21.1328.01
Bid/Ask
$26.96 / $27.36
Market Cap
$106.63 Bil
Volume/Avg
81,854 / 108,516

Key Statistics

Price/Earnings (Normalized)
13.15
Price/Sales
0.56
Dividend Yield (Trailing)
4.59%
Dividend Yield (Forward)
4.59%
Total Yield
4.59%

Company Profile

Allianz was founded as a transport and accident insurance firm in 1890 by Carl Thieme and Wilhelm Finck, the founders of Munich Re. It took the company 5 years to expand the business into Europe and North America and subsequently listed in Berlin. After the First World War, individuals became confronted with the loss of wealth, life, and security and Allianz founded a life business in the 1920s. In the years after the Second World War, Allianz’s foreign assets were seized and it lost its foreign business. By relocating its head office from Berlin to Munich in 1948, Allianz began the long road of rebuilding its domestic business. It took almost 20 years for Allianz to reacquire its prior foreign interests, starting in Austria. It became the largest European insurer in the postwar boom era.
Sector
Financial Services
Industry
Insurance - Diversified
Stock Style Box
Large Core
Total Number of Employees
159,253

Competitors

Valuation

Metric
ALIZY
AV.
AXAHY
Price/Earnings (Normalized)
13.157.3810.38
Price/Book Value
1.841.331.56
Price/Sales
0.561.040.86
Price/Cash Flow
1.509.94
Price/Earnings
ALIZY
AV.
AXAHY

Financial Strength

Metric
ALIZY
AV.
AXAHY
Quick Ratio
Current Ratio
Interest Coverage
9.62−1.0417.86
Quick Ratio
No chart available

Profitability

Metric
ALIZY
AV.
AXAHY
Return on Assets (Normalized)
1.27%0.60%1.16%
Return on Equity (Normalized)
23.06%16.14%16.49%
Return on Invested Capital (Normalized)
17.23%11.20%6.96%
Return on Assets
ALIZY
AV.
AXAHY
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Insurance - Diversified Industry Comparables

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Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
BRK.A
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BRK.B
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AXAHY
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ZURVY
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AIG
American International Group IncJqg$49.6 Bil
SLF
Sun Life Financial IncBrvm$31.2 Bil
AVVIY
Aviva PLC ADRLwb$15.5 Bil
AEG
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AGESY
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