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Allianz SE (ALV) stock analysis

Allianz near highs: steady uptrend, 13.12 forward P/E, earnings due Nov 12

Allianz SE closed at 434.80 on Oct 27, 2026, 4.36% below its 52-week high and 8.62% above its 200-day average. Revenue and dividends have grown, but the last two quarters' EPS missed consensus and the forward P/E is well above the sector median. Third-quarter results are due Nov 12, 2026.

  • Price: 434.80
  • Market Cap (USD): $183.71B
  • P/E: 14.01×
  • Fwd P/E: 13.12×
  • Div Yield: 3.93%
  • 1Y Return: 21.66%
  • Next Earnings: Nov 12, 2026
  • Rating: Strong Buy

Bull case

  • Price of 434.80 is above the 200-day average of 400.29, and the 50-day average of 434.57 sits 8.56% above the 200-day, so the trend is intact; the 1-year return is 21.66%.
  • Annual diluted EPS rose from 15.48 in 2022 to 28.61 in 2025, and the dividend per share rose from 15.4 (ex-date May 9, 2025) to 17.1 (ex-date May 8, 2026), a 3.93% yield.
  • Return on equity of 19.65% is above the sector median of 18.05%, and 11 analysts have consensus EPS of 30.54 for this year and 33.14 for next year.

Bear case

  • Forward P/E of 13.12 is in the 76th percentile of German financials (median 9.69) and 42.26% above the industry median of 9.22.
  • Operating margin of 10.50% is in the 9th percentile of the peer group (median 23.90%) and fell 0.69% over the past year.
  • EPS missed consensus by 7.04% on Aug 7, 2026 and by 5.55% on Feb 26, 2026, and quarterly EPS growth was -8.00% year on year.

What to watch

  • Q3 earnings on Nov 12, 2026 (confirmed); consensus EPS is 8.71 versus 6.47 reported last quarter.
  • The 52-week and all-time high of 454.60, 4.36% above the current price.
  • The 50-day average at 434.57, which the price is sitting on, and the 20-day low of 408.60.
  • The 200-day average at 400.29 as a longer-term trend marker.

General

Allianz is a global insurer and asset manager with property-casualty, life/health and asset management operations. The shares trade near their highs after a strong year. Valuation is above peers, and recent earnings surprises have been mixed.

Business

Per its profile, Allianz offers property-casualty cover such as motor, liability, fire and travel insurance, plus life and health products like annuities and long-term care, and asset management. It has 138,378 employees. Trailing revenue is 159.64B and net income is 11.80B.

Valuation

The trailing P/E is 14.01 and the forward P/E is 13.12, both in roughly the 77th percentile of German financials. Price to book is 2.63. The dividend yield of 3.93% is in the 78th percentile, with a payout ratio of 56.29%.

Market and analyst signals

The relative strength rating is 82, and the 1-year return is 21.66%. Eleven analysts are covered, with a rating score of 2 labelled Strong Buy; there were no upgrades or downgrades in the last 30 days. The Aug 7, 2026 report missed EPS consensus by 7.04%.

Long-term investor

Earnings and dividends have compounded, with 3-year EPS growth of 22.72% and a 12.56% dividend growth rate. Returns on equity are healthy and leverage is moderate. Valuation is above peers and margin trends are soft.

Growth and margins

Annual revenue rose from 79.86B in 2022 to 137.81B in 2025, and net income from 6.42B to 10.78B. Five-year revenue growth is 4.19% a year, far below the 3-year rate of 19.94%. Operating margin is 10.50% and down 0.69% over a year.

Balance sheet and returns

Debt to equity is 0.54, in the 26th percentile of peers, and interest coverage is 30.42. ROE is 19.65% and ROA is 1.14%. The Piotroski score is 5. Net debt is 6.39B against equity of 62.87B.

Capital return

In 2025 Allianz paid 5.92B in dividends and repurchased 1.99B of stock. Diluted shares fell from 411.7M in 2021 to 376.6M in 2025, and shares outstanding changed -0.99% over the past year. Dividend growth has run four years.

Valuation and expectations

Forward P/E of 13.12 compares with a peer median of 9.69, and PEG is 1.54. Next year's EPS growth of 8.51% is in the 24th percentile, below the 11.86% median. No insider trades were recorded in 90 days.

Swing trader

The trend is up, with price above all key averages, though it is pressed against the 50-day average and below the 454.60 high. Momentum is moderate, volume is light and earnings arrive in 16 days.

Trend and momentum

Price of 434.80 is above the 20-day average of 424.34, the 50-day of 434.57 and the 200-day of 400.29. RSI is 55.12, MACD is 0.64 above its signal of -1.07, and ADX is 20.36, indicating a modest trend. Stochastic K is 89.69.

Recent action and levels

The stock rose from 413.4 on Oct 8 to 434.8 on Oct 27. Resistance sits at the 20-day high of 437.50, Bollinger upper of 439.40 and 454.60. Support is near 424.34 and the 20-day low of 408.60. Volume on Oct 27 was 292.5K, a relative 0.56 times.

Risk and events

ATR is 6.61, or 1.52% of price, and 30-day historical volatility is 22.23%. Earnings on Nov 12 carry a history of moves like 3.29% (May 13) and -0.68% (Aug 7). No analyst rating changes occurred in 30 days.

Analysis written October 28, 2026 from Qanvo data as of October 27, 2026. AI-generated, for information only; not investment advice.