Allianz stock has made strong progress since the end of September and both indicators are currently positive. However, earnings are due tomorrow.

Overview

Allianz is an international financial services provider, it offers over 86 million customers worldwide products and solutions in insurance and asset management. The company is one of the world’s largest insurers and financial services groups. It is a constituent of the Euro Stoxx 50 stock market index. The company headquarters is based in Munich, Germany.

Financials

As of December 2021, total assets totalled €1,139.4bn and total liabilities were €1,055.2bn. Versus year-end for 2020, total assets and liabilities rose €79.4bn and €79.8bn respectively. Shareholders’ equity increased due to the issuance of updated bonds of €2.4bn, net income attributable to shareholders of €6.6bn, and higher foreign currency translation adjustments of €1.2bn. In May 2021, a share buy-back program worth €750m, lower unrealised gains and losses (net) of €5.9bn, and a dividend payout worth €4bn offset this increase and led to a total decrease in shareholders' equity of €900 million. Additionally, the overall asset portfolio rose by €18.3bn, however, net income fell by 28 million which is due to a rise of €4,788bn in the acquisition and administrative expenses. As a result, earnings per share dipped from €16.48 in 2020 to €15.95 in 2021.

Technicals

From a technical outlook, the stock shares are currently sat at €188.63 a share. Applying the Fibonacci retracement to the chart, minor resistance sits at €191.14 then at €194.36 (50% Fib) than a major resistance level at €203.37 (61.8% Fib). A break above the 61.8% Fib may see the stock price climb towards the €214.51 price level which is also the 76.4% Fib. On the other hand, towards the downside, support levels sit at €185.36 (38.2% Fib) then at €181.40 then a major support level at €174.22 (23.6% Fib). A break below the major support level could see the share price retreat back to the lows of September 2022 ($156.22).  Looking at the indicators, MACD is currently positive and so is RSI as it reads 55.