0703 GMT - Allianz has made steady progress recently which is already reflected in its share price, HSBC says in a research note. The German insurer's stock is trading above its one- and three-year averages and at a 3% premium to the sector. "We view Allianz's business model favorably with its strong balance sheet, diversification by business line and geography, as well as its focus on organic growth, productivity improvements, and improving economic value creation under its 2024-27 business plan," analysts write. However, they cut the rating on the stock to hold from buy as property and casualty headwinds are moderating and consensus already sits at the top end of management's guided range. Shares have risen by about a third over the year to date. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 16, 2025 03:03 ET (07:03 GMT)
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