ALV.DE - Allianz SE
| Previous Close | 151.46 |
| Open | 149.62 |
| Bid | 149.88 x 214900 |
| Ask | 149.92 x 10000 |
| Day's Range | 146.96 - 151.12 |
| 52 Week Range | 117.10 - 232.60 |
| Volume | 2,543,360 |
| Avg. Volume | 2,185,403 |
| Market Cap | 62.203B |
| Beta (5Y Monthly) | 1.02 |
| PE Ratio (TTM) | 7.93 |
| EPS (TTM) | 18.83 |
| Earnings Date | May 12, 2020 |
| Forward Dividend & Yield | 9.60 (6.34%) |
| Ex-Dividend Date | May 07, 2020 |
| 1y Target Est | 213.69 |
- Moody's
Allianz S.p.A. -- Moody's announces completion of a periodic review of ratings of Allianz SE
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Allianz SE and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
- Reuters
Germany, credit insurers agree in principle on guarantees - sources
The German government and the nation's credit insurance industry have agreed on a plan to help the sector keep insuring trade despite economic hardship related to the coronavirus outbreak, people with knowledge of the plan said on Wednesday. The plan foresees government guarantees of up to 30 billion euros ($32.8 billion) for the commercial credit insurance industry, the sources said.
- Reuters
EU states step in where trade credit insurers fear to tread
PARIS/AMSTERDAM/MUNICH, March 31 (Reuters) - European Union states are giving guarantees to credit insurers in a bid to keep coronavirus-hit companies afloat, as some firms cut cover for trade involving bloc members such as Italy and Spain, sources said. Atradius, which like rivals Coface and Euler Hermes sells protection to companies against the risk of default by their customers, forecasts a 2.1% rise in insolvencies in western Europe this year, compared with a 0.2% fall in 2019. Credit insurers, which are often the frontline for absorbing loan losses, are already lowering credit limits and are heading towards "withdrawal of coverage for places like Italy and Spain", one industry source told Reuters.
- Financial Times
Allianz liquidates two hedge funds after losses
Allianz Global Investors, the asset management group owned by Germany’s largest insurance group, is liquidating two hedge funds that suffered huge losses during the March market rout. Structured Alpha 1000 and Structured Alpha 1000 Plus, both of which ran a derivatives-based strategy, will “enter into an orderly liquidation”, according to a company spokesperson. Both hedge funds incurred significant losses despite hedging their portfolios with put options, which allow shares to be sold at a defined time and price and which are often used by investors to protect against downturns.
- Bloomberg
Central Banks Battle to Gain Control of Wild Global Markets
(Bloomberg) -- Central banks from Asia-Pacific to Europe pledged to spend billions of dollars and implemented new policy steps to stem a global market rout.U.K. debt rallied after the Bank of England cut interest rates and said it would restart asset purchases to mitigate the economic impact of the coronavirus pandemic. Hours earlier, the European Central Bank announced its own debt-buying program to keep borrowing costs in check, sending euro-area bonds higher. And in a sign of just how volatile markets have been, Australia’s central bank -- one of the last major holdouts against quantitative easing -- said it would buy government debt across the curve. The Bank of Japan and Bank of Korea made similar offers.The central-bank action came after Asian bonds joined the wild sell-off seen in European debt markets Wednesday as funds liquidated assets to hoard the dollar. The Swiss National Bank accelerated currency interventions to curb the haven franc’s rise, and the Bank of Russia stepped in to slow the ruble’s drop. Norway, which saw its currency plummet by almost 20% this month, is thinking of doing the same.“Interventions should help stabilize rates markets,” Mike Riddell, a money manager at Allianz Global Investors in London, said before the BOE’s move. “But it’s possible that stabilizing rates markets isn’t enough -- liquidations aren’t just in rates, they’re everywhere.”In the U.K., the yield on two-year gilts headed for the biggest fall since the nation voted to leave the EU. Meanwhile, bond yields from Italy to France plummeted after the ECB’s announcement, with those on Greek five-year debt dropping more than 200 basis points.The Reserve Bank of Australia’s historic announcement caused the nation’s curve to steepen, with the benchmark 10-year yield briefly surging by a record 128 basis points as the three-year slipped. Yields in New Zealand also jumped by more than 30 basis points after Wednesday’s meltdown in European debt on concern that governments will have to raise borrowing to fund stimulus measures to combat the virus fallout.The Federal Reserve late Wednesday said it was launching a program to support money market mutual funds. It has already slashed rates twice and pledged to buy more bonds.International easing will gradually reduce the overhang in most markets but it probably won’t return them to normality, said Peter Chatwell, head of multi-asset strategy at Mizuho International Plc in London.“These are extremely abnormal times with risk takers working from home and schools being closed,” he said. “Euro fragmentation will materially reduce, the monetary transmission mechanism will start to normalize, but I don’t expect market liquidity to come back until next month at the earliest.”The RBA cut the cash rate and said it would announce its intentions for debt purchases at 11:15 a.m. local time each day, and it would also buy semi-government debt to address market dislocations. It will also provide a term-funding facility of at least A$90 billion ($51 billion) for the banking system.“The RBA will still have to do more -- the huge jump in bond yields in the long-end kind of reflected that,” said Diana Mousina, economist at AMP Capital Investors Ltd. in Sydney. “The market is signaling they want the RBA to move more like the Fed, including monthly targets for bond buying.”The RBA’s QE approach differs from the Fed and ECB, which pledged to buy a certain amount of government securities to keep yields down. By directly targeting the yield instead, the RBA isn’t committed to any set amount of purchases -- an approach adopted by the BOJ in 2016.‘Sell Everything’A global liquidity crunch has made matters worse for investors and exacerbated market moves. Trading desks continue to speak of the mentality of “selling everything” except the U.S. dollar, with huge liquidations and de-leveraging taking place everywhere.The demand for dollars, together with the plunge in oil prices, sent currencies worldwide into a tailspin. So much so that Russia’s central bank said it will begin additional foreign currency sales if the price of Urals crude is below $25 a barrel, a level it has already reached. And Norway’s Norges Bank said it’s ready to intervene in currency markets for the first time in more than two decades.Meanwhile, the Swiss National Bank is grappling with a currency that continues to strengthen against the euro. It said the virus poses “exceptionally large challenges” and that the currency is “even more highly valued.”That change to its wording on the franc is a warning to markets that it will push back more aggressively against unwarranted appreciation.BOJ HandThe BOJ’s announcements were staggered over the day. Other than buying bonds up to 25 years in maturities, Japan’s central bank also offered to supply funds as markets will be shut for a local holiday on Friday.“The longer that bond yields are not behaving the more likely we are to get bigger and bigger central bank responses,” said James Athey, a money manager at Aberdeen Standard Investments in London. “Potentially we should expect some bigger fiscal responses, which if not matched with large QE programs might start to be a big problem for bond yields.”(Adds BOE move from second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
RPT-INSIGHT-Under water? Banks play home loan lottery as insurers bail out
SYDNEY/LONDON, March 16 (Reuters) - Only a year after losing their homes to floods in parts of Australia's north eastern coast of Queensland, people are moving into new houses built on or near the same plots. A tradesman who has bought a new home in Townsville after walking away from his water-damaged dwelling 15 kilometres (9.32 miles) away, said the insurance premium had risen 350%, a price he was not willing to pay to protect against another flood. Banks appear to be taking a similar view, with long-term funding still widely available for new and existing housing, while insurers are more picky.
- Simply Wall St.
What Is Allianz's (ETR:ALV) P/E Ratio After Its Share Price Tanked?
To the annoyance of some shareholders, Allianz (ETR:ALV) shares are down a considerable 36% in the last month. Even...
- Bloomberg
Pimco to Run Allianz Real Estate, Forming $100 Billion Unit
(Bloomberg) -- Pacific Investment Management Co. is taking over management of Allianz Real Estate, forming a combined unit with $100 billion in assets.Pimco parent Allianz Group has a more-than 70 billion euro ($79 billion) real estate portfolio in Europe, the U.S. and Asia-Pacific region, according to a statement Tuesday. Pimco, which managed $1.91 trillion as of Dec. 31, is best known as a fixed-income manager and will oversee the combined real estate unit under its private strategies platform.Pimco has been seeking to expand beyond its core bond business as yields have fallen and fund management fees narrow industrywide. Its private strategies -- which are available to institutional and high-net-worth investors -- include hedge funds, distressed debt, real estate debt and other illiquid alternative products.“Bringing two high-performing, complementary specialist parts of the business together puts us in a position to provide customers a more comprehensive solution in real estate capabilities and strengthens our position in alternatives, where we are already among the top 10 global players,” Jackie Hunt, a member of the Allianz SE board of management, said in the statement.Allianz, a Munich-based insurer that also operates as an asset-management company, acquired Newport Beach, California-based Pimco in 2000.(Updates with executive comment in third paragraph.)To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Josh Friedman, Steve DicksonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Global banks, funds add allies in push for clearinghouse capital
A group of nine global banks and investment management companies said on Tuesday that 10 more institutions have joined their push for regulators to require for-profit derivatives clearinghouses to put up more capital against cascading losses that might rock the world financial system. The announcement is another attempt to break a years-long stalemate between the clearinghouse and their customers over how much capital each should have ready to quickly absorb gigantic losses from traders going bust. Strengthening rules to ensure clearinghouses could be wound down safely may be the most significant unfinished work on reforms started after the 2008 financial crisis, regulators have said.
- Reuters
Robots step in as cheap labour dries up in Eastern Europe
Istvan Simon's factory in western Hungary churns out more than a million plastic parts a day but on a busy morning in one of its large production halls there is only the sound of machines clicking and whirring. Similar transformations are underway on production lines across the European Union's eastern wing as surging wage bills undermine the region's reputation as a cheap production base. Factory owners from Hungary to the Czech Republic and Poland find themselves with little choice but to invest in the automation of their manufacturing processes if they want to remain competitive.
- Barrons.com
New York Declares State of Emergency. Here’s What’s Happening Now.
Gov. Cuomo received expanded powers earlier in the week. His first step is increasing health care supplies and workers. Many New York City businesses are taking steps as well.
- Bloomberg
Gold Has Biggest Weekly Gain Since 2016 as Virus Fears Deepen
(Bloomberg) -- Gold futures posted their biggest weekly gain in more than four years as lingering concerns about the spread of the coronavirus permeated markets.Prices neared a seven-year high before a massive sell-off in equities forced investors to cash in gains in gold to cover losses in the stock market. The S&P 500 pushed its two-day rout to more than 6%, while sovereign bonds signaled the world is in crisis mode as policy makers struggle to contain the economic fallout from the coronavirus.Bullion still gained nearly 7% this week, fulfilling its role as insurance at a time when the outbreak is shaking investor confidence. Global central bankers are cutting interest rates beyond their global financial crisis-era lows, boosting the appeal of the non-interest bearing bullion.“Gold is behaving as you would expect it to,” Caroline Bain, chief commodities economist at Capital Economics, said by phone from London. “We’ve obviously seen safe-haven buying for gold. I don’t think there’s anything unusual in the way gold is reacting to possibly a pandemic.”Citigroup Inc. reiterated its forecast that the metal could climb to $2,000, breaching its previous record, on monetary policy easing and safe haven inflows.The outbreak and efforts to contain it may slash about $320 billion off global trade each quarter while it lasts, delivering a much bigger hit than the U.S.- China trade war, according to Allianz SE. Infections around the world have already topped 100,000.Gold futures for April delivery rose 0.3% to settle at $1,672.40 an ounce. The precious metal swung from a loss of 1.5% earlier that was fueled by investors seeking to raise cash to cover their margin calls in the stock market.“With equity markets trading this low, you always have the risk of forced liquidation as people sell the winners to cover for the losers,” Daniel Ghali, a commodities strategist at TD Securities, said by phone. “I believe that’s what we’re seeing in gold.”Bullion is one of the standout winners from the outbreak, with Goldman Sachs Group Inc. saying the commodity “has immunity to the virus.” Money manager Jeffrey Gundlach told CNBC that gold is the best thing to own now and is headed to new highs.To contact the reporter on this story: Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
It’s Time to Really Fret, Says Manager Who Beat 98% of Peers
(Bloomberg) -- Markets aren’t prepared for how severe the fallout of the global spread of coronavirus could get and the turmoil has only just started, according to the manager of a peer-beating fund.The stark warning comes from Allianz Global Investors’ portfolio manager Mike Riddell, who oversees $4.7 billion for the company. “The speed of the market repricing has obviously been dramatic, however markets have only gone from pricing in no risk of anything to a moderate risk,” Riddell said in a phone interview. “Where we think markets can still move is in volatility.”Riddell’s Strategic Bond Fund, which he manages with Kacper Brzezniak, outperformed 98% of its peers in the past month, when markets grappled with record-low bond yields, a plunge in stock markets, spiking currency market volatility and surprise rate cuts from central banks, including an emergency cut by the U.S. Federal Reserve. Bonds from the U.S. and Germany rallied on Friday with the 30-year and 10-year yields sliding to a fresh record lows.The London-based Allianz manager has been bracing for a wobble in markets for a few months now and thinks the recent repricing is still too mild. He is using options to bet on more currency swings and also has positioned for short-term U.S. yields to lead declines as he sees a significant chance the Fed could slash interest rates close to zero.“If global data really tanks in the coming weeks and months, investors will realize that central banks can’t cure coronaviruses and markets such as currencies and corporate bonds are still ripe for a correction,” Riddell said.The virus has spread from China to dozens of countries, with cases topping 100,000 and the death toll exceeding 3,400. Governments in Asia and Europe have pledged over $50 billion in budget measures, and the U.S. Senate cleared $7.8 billion in emergency spending.Fears of the infection and imposed quarantines have severely hit economic sentiment and activity. The Paris-based OECD slashed its global outlook by 0.5% and warned the virus was pushing the world economy closer to a contraction.Central bankers are looking to dig deeper into their policy toolkit as they attempt to cushion any economic blow. Investors have been more aggressive with their expectations for monetary stimulus after the Fed’s surprise 50 basis-point cut on March 3. Federal Reserve Bank of Dallas President Robert Kaplan said the pace of acceleration in virus across the U.S. will be key to another rate cut later this month.One-year implied volatility in euro-dollar, which climbed at the end of February to the highest since mid-2019, retreated earlier this week. However, the measure surged higher Friday to levels crossing the average for the past year of around 6%. Riddell said positioning for increased currency swings via options was incredibly cheap in January.While he has trimmed some of these bets, with his view that the euro-zone economy is already in a recession, he expects currency volatility to be “twice as high” if the situation worsens. Despite the slide in yields , Riddell doesn’t see this as a floor and has a “large” position in U.S. curve steepeners via swaps and futures.“Even if we aren’t hysterical about the health impact of the virus, it doesn’t mean the market and economic impact is going to be muted,” he said.“It is the quarantining and essentially the shutting down of large parts of the global economy which is causing substantial economic and financial market damage,” Riddell said. “My base case is things get substantially worse from now.”(Updates prices throughout.)To contact the reporter on this story: Anooja Debnath in London at adebnath@bloomberg.netTo contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Pete Norman, Neil ChatterjeeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Bondholders meet with Argentina's economy minister as restructuring deadline looms
"We accepted an invitation to visit the ministry to discuss a range of issues (with Economy Minister Martin Guzman) on a one-to-one basis," said Pramol Dhawan, head of the emerging markets portfolio management team at Pimco, a major holder of Argentine debt. Pimco is a unit of Allianz SE.
- MarketWatch
European stocks end sharply lower as index retreats 10% over six sessions
European stocks slumped on Thursday, as new virus cases mount outside of China, including the first from an unknown source in the United States.
- Thomson Reuters StreetEvents
Edited Transcript of ALV.DE earnings conference call or presentation 21-Feb-20 1:00pm GMT
Q4 2019 Allianz SE Earnings Call
- Reuters
Insurer Allianz raises guidance after profit jump
MUNICH/FRANKFURT (Reuters) - German insurance group Allianz announced a more ambitious profit target for this year after posting a better than expected 9.5% jump in fourth-quarter net profit on Friday. The profit increase was largely driven by an improved investment margin in its largest division by revenue, health and life, but the insurer had to set aside 600 million euros ($647.7 million) in reserves as its struggling corporate business dragged on its property and casualty arm. Allianz, which owns asset manager PIMCO, recorded quarterly net profit attributable to shareholders of 1.86 billion euros ($2 billion).
- Reuters
RPT-INSIGHT-Fires and climate fears rattle Australia's giant coal lobby
As bushfires and floods fuel public concerns in Australia about global warming, the country's powerful mining lobby is facing increasing pressure from investors to drop support for new coal mines, according to a dozen interviews with shareholders in global mining companies. Nearly a third of shareholders in BHP Group Ltd , the world's biggest miner, last year voted for resolutions to axe its membership in industry groups advocating policies counter to the Paris climate accord, which aims to limit global warming to "well below" 2 degrees Celsius.
- MarketWatch
Fed staffers say life insurers have leveraged up and are vulnerable to risks from the corporate sector
A new research paper from Federal Reserve staffers finds U.S. life insurers have taken on the risks in private debt largely ceded by banks after the 2008 financial crisis.
- Reuters
Investors urge Japan to strengthen climate targets ahead of U.N. summit
Investors managing $37 trillion in assets urged Japan to slash the country's carbon emissions, saying on Monday that a strong signal from Tokyo could help galvanise international climate action ahead of a U.N. summit in Glasgow in November. Institutional investors, traditionally wary of singling out governments for criticism, are starting to subject policymakers to greater public pressure amid mounting fears over the risks that climate change poses to global markets. While Britain and much of the European Union aim to cut carbon emissions to net zero by 2050, Japan is the only G7 nation still building new coal-fired power plants, drawing criticism from climate campaigners.
- Reuters
AllianzGI pushes for more climate data ahead of AGM season
German fund manager Allianz Global Investors is pushing every company it invests in to improve their climate-related disclosures ahead of the season for annual shareholder meetings. Allianz GI, which manages 557 billion euros ($605.18 billion) as part of insurer Allianz , said it had updated its Global Corporate Governance Guidelines and would push companies to do more to manage what it said was a critical risk. Specifically, it wants every company to use the Taskforce for Climate-related Financial Disclosures (TCFD) framework for assessing the impact of climate risk on their business, an initiative kick-started by the Financial Stability Board.
