ALIZY - Allianz: Still Cautious Despite Solid Results And Chart Breakout

2024-02-25 00:42:47 ET

Summary

• Allianz reported annual results for fiscal 2023 and while asset management struggled a little bit, insurance performed well.
• The dividend was increased about 20% and a new share buyback program was announced.
• The stock also broke out above the previous resistance level, which can be seen as bullish and is still trading for rather low valuation multiples.
• Nevertheless, I remain cautious for the coming quarters and years.

My last article about Allianz ( OTCPK:ALIZF ) was published at the end of October 2024 and in the article, I argued that I will rather stay on the side of caution. Nevertheless, Allianz performed quite well in the meantime and when my article was published, the stock traded around €218 and in the meantime the stock price increased to €248 – resulting in almost 14% gain in about four months....

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