ALV.DE · GER DAX Euro Stoxx 50

Allianz SE

Financial services · Diversified insurance

€461.20 −€2.30 (−0.50%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 16 analysts

Hold

Median price target €440.00 −4.6%

Open: €465.30
Day range: 459.90 – €465.30
52-week range: 338.80 – €469.10
Volume: 99,723
Market cap: €174,927M
P/E (TTM): 14.9x
EPS (TTM): €30.93
EPS est. 2026: €31.30
P/E est. 2026: 14.7x
Dividend yield: 3.7%
Beta: 0.67
Payout: 56%

Analyst summary

Generated with AI · Nov 11, 2026, 14:02

Allianz combines property-casualty and life/health insurance with asset management, giving it several earnings streams but exposure to claims and investment markets. Q2 2026 revenue rose +39.1% year on year to €46,016M, while net income fell −8.7% to €2,595M and EPS declined to €6.47. Analysts expect EPS growth in 2026 and 2027, though the shares trade above the P/E multiples of listed European peers and the median target is below the current price.

1Q2 2026 revenue rose +39.1% to €46,016M, but net income fell −8.7% to €2,595M.
2The current P/E is 14.9x, compared with estimated 2027 EPS of €33.343 and a forward P/E of 13.8x.
3The 3.7% dividend yield accompanies a Hold consensus and a €440.00 median target.

Allianz financials

Q2 2026 results, quarter ended Jun 30, 2026

Metric	Q2 2026	1-year change
Total revenue	€46,016M	+39.1%
Net income	€2,595M	−8.7%
Earnings per share	€6.47	−13.6%
Net margin	5.6%	−2.9 pp
Free cash flow	n/a	n/a
Debt / equity	0.54	−16.9%

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q2 2025	€33,090M	€2,841M
Q3 2025	€39,782M	€2,847M
Q4 2025	€37,858M	€2,664M
Q1 2026	€31,065M	€3,690M
Q2 2026	€46,016M	€2,595M

Q2 2026 revenue increased +39.1% year on year to €46,016M, but net income declined −8.7% to €2,595M. The net margin was 5.6%, down −2.9 pp. Revenue rose from €31,065M in Q1 2026 to €46,016M in Q2, while net income fell from €3,690M to €2,595M, pointing to weaker quarterly profitability despite the revenue increase.

EPS grew from €15.480 in 2022 to €27.670 in 2025; consensus forecasts €31.303 for 2026 and €33.343 for 2027. Q3 and Q4 2025 EPS beat estimates by +10.6% and +4.0%, respectively, whereas Q2 2026 EPS of €6.470 missed the €6.923 estimate by −6.5%. For insurers, free cash flow and debt/equity are not representative metrics; FCF is n/a and reported debt/equity is 0.54. The current P/E is 14.9x, against estimated P/Es of 14.7x for 2026 and 13.8x for 2027.

Written by AI · Nov 11, 2026, 14:02

Allianz earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ3 2026 · Analysts: 1	€8.1748.17 – 8.17	+10.5%€7.400
Next quarterQ4 2026 · Analysts: 1	€8.2448.24 – 8.24	+18.1%€6.980
Current year2026 · Analysts: 8	€31.30330.16 – 33.97	+9.5%€28.590
Next year2027 · Analysts: 10	€33.34329.16 – 37.68	+6.5%€31.303

Forward P/E: 14.7x (2026) and 13.8x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q2 2025	€7.490	—
Q3 2025	€7.440	€6.728
Q4 2025	€7.170	€6.893
Q1 2026	€9.560	€9.613
Q2 2026	€6.470	€6.923
Q3 2026	—	€8.174
Q4 2026	—	€8.244

Year	Actual EPS	Estimated EPS
2022	€15.480	—
2023	€21.180	—
2024	€25.180	—
2025	€27.670	—
2026	—	€31.303
2027	—	€33.343

EPS trend

Quarter	EPS	YoY change
Q4 2026Estimated	€8.244	+15.0%
Q3 2026Estimated	€8.174	+9.9%
Q2 2026	€6.470est. €6.923 · surprise −6.5%	−13.6%
Q1 2026	€9.560est. €9.613	n/a
Q4 2025	€7.170est. €6.893 · surprise +4.0%	n/a
Q3 2025	€7.440est. €6.728 · surprise +10.6%	n/a
Q2 2025	€7.490	n/a

Year	EPS	Annual change
2027Estimated	€33.343	+6.5%
2026Estimated	€31.303	+13.1%
2025	€27.670	+9.9%
2024	€25.180	+18.9%
2023	€21.180	+36.8%
2022	€15.480	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Allianz dividend

Yield and payments

Dividend yield (TTM)	3.7%
Forward yield (next 12m)	3.7%
Dividend per share (TTM)	€17.10
Forward dividend (next 12m)	€17.10
Payout (TTM)	56%
Last dividend	€17.10May 8, 2026
Next ex-dividend date	n/a

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€9.00
2020	€9.60
2021	€9.60
2022	€10.80
2023	€11.40
2024	€13.80
2025	€15.40
est. 12m	€17.10

Allianz’s trailing and estimated 12-month dividend yields are both 3.7%, based on a dividend per share of €17.10 in each period. The payout ratio is 56%. The latest dividend was €17.10, with an ex-date of May 8, 2026; the next ex-date is n/d.

The annual dividend history shows a general upward trend, rising from €9.00 in 2019 to €15.40 in 2025, with an estimated €17.10 over the next 12 months. This record and the stated payout indicate a material income component, although future distributions remain subject to earnings and board decisions.

Written by AI · Nov 11, 2026, 14:02

Allianz forecasts

16 analyst ratings

Buy38% Hold38% Sell25%

Consensus: Hold · 6 buy, 6 hold, 4 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€684.00	+48.3%
Median	€440.00	−4.6%
Low	€351.00	−23.9%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€372.30
Dec 30, 2025	€390.50
Jan 30, 2026	€371.80
Feb 27, 2026	€382.20
Mar 31, 2026	€359.30
Apr 30, 2026	€389.00
May 29, 2026	€381.60
Jun 30, 2026	€414.10
Jul 31, 2026	€432.50
Aug 31, 2026	€450.80
Sep 30, 2026	€416.30
Oct 30, 2026	€438.70
Nov 11, 2026	€461.20

Analyst sentiment is mixed, with a Hold consensus among 16 analysts: 6 (38%) rate the shares Buy, 6 (38%) Hold and 4 (25%) Sell. The median price target is €440.00, implying potential −4.6% from the current price. The target therefore sits below the market quotation despite forecasts for higher EPS.

Targets span €351.00 (−23.9%) to €684.00 (+48.3%), signalling a wide range of views. Consensus EPS estimates are €31.303 for 2026 and €33.343 for 2027, with estimated P/Es of 14.7x and 13.8x, respectively. These projections imply continued earnings growth, but the target distribution and neutral overall rating point to uncertainty about the shares’ near-term valuation.

Written by AI · Nov 11, 2026, 14:02

Allianz peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
ALV.DE	Allianz	174,927	14.9x	461.20	−0.50%	338.80469.10
CS.PA	Axa	96,086	12.4x	45.95	−0.28%	36.5546.37
G.MI	Generali	67,246	15.2x	44.82	−0.04%	32.0646.24
MAP.MC	Mapfre	13,045	11.2x	4.25	+0.14%	3.524.62
BRK-B	Berkshire Hathaway	1,239,317	16.3x	583.34 $	+1.41%	464.01586.45
AIG	American International	42,678	13.4x	82.32 $	+3.38%	71.2587.29

Stocks quoted in another currency are shown in their trading currency.

Allianz’s market capitalisation is €174,927M and its P/E is 14.9x. Among the listed European insurers, AXA is smaller at €96,086M and trades at 12.4x, while Mapfre has a €13,026M market capitalisation and a P/E of 11.2x. Allianz therefore has the largest market value of these European peers but also the highest P/E.

The US-listed comparators have market capitalisations quoted in dollars: Berkshire Hathaway at $1,239,317M and 16.3x P/E, AIG at $42,678M and 13.4x, and Hartford at $36,850M and 9.2x. Allianz’s P/E is below Berkshire’s but above AIG’s and Hartford’s.

Written by AI · Nov 11, 2026, 14:02

Risks, catalysts and conclusion

Generated with AI · Nov 11, 2026, 14:02

Risks

Higher claims costs or severe insured losses could pressure underwriting profitability across property-casualty operations.
Adverse investment-market conditions could weigh on asset-management results and returns supporting life and health products.
A P/E premium to AXA and Mapfre leaves valuation exposed if forecast earnings growth disappoints.

Catalysts

Continued growth in insurance revenue could strengthen earnings contributions from property-casualty and life/health operations.
Delivery of the estimated EPS growth to €31.303 in 2026 and €33.343 in 2027 could support the earnings outlook.
Improved asset-management activity could add to results from Allianz’s funds and alternative investment businesses.

Conclusion

Allianz’s diversified insurance and asset-management activities underpin a substantial earnings base, and consensus expects EPS to rise in 2026 and 2027. However, Q2’s lower net income and EPS despite sharply higher revenue highlight quarterly profitability pressure. The 3.7% yield is supported by a 56% payout, while the 14.9x P/E exceeds European peers and the median target is below the share price. Overall, the outlook is balanced, with execution and valuation key considerations.

Analysis written automatically by AI from Yahoo Finance market data on Nov 11, 2026, 14:02.

This content is for information only and is not financial advice or a recommendation to buy or sell securities. Ratings and price targets come from third-party analysts. Investing in the stock market involves the risk of losing capital.

Allianz SE

Analyst summary

Allianz financials

Q2 2026 results, quarter ended Jun 30, 2026

Revenue and net income (€M)

Allianz earnings per share (EPS)

Consensus estimates

Actual and estimated EPS (€)

EPS trend

Allianz dividend

Yield and payments

Dividend per share by year (€)

Allianz forecasts

16 analyst ratings

1-year price forecast

Allianz peers

Risks, catalysts and conclusion

Risks

Catalysts

Conclusion

What the AI agents think about Allianz

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