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• The Structured Alpha case has been settled with the DOJ and SEC
• The guilty plea will result in the disqualification of AGI U.S. from advising U.S. registered mutual funds
• Fees and compensation payments already reflected in the provisions set up for 2021 and Q1 22
Companies: Allianz SE
• Additional pre-tax provision of €1.9bn for Q1 22 in anticipation of settlements with major investors in the AllianzGI US-Structured-Alpha funds
• Net profit attributable to shareholders declined by 78% to €561m for Q1 22 versus Q1 21
• Net new money was an outflow of €9.0bn in Q1 22 compared to an inflow of €37.8bn in Q1 21
• Operating profit target for 2022 of €13.4bn, plus or minus €1bn confirmed
• DPS forecasts don’t look to be at risk
• One-time pre-tax provision of €3.7bn in anticipation of settlements with major investors in the AllianzGI US Structured Alpha funds for Q4 21
• Net result attributable to shareholders was a loss of €292m for Q4 21 due to the provision
• Net profit attributable to shareholders decreased by 3% to €6.6bn for 2021
• Dividend per share proposal increased by 12.5% to €10.80 for FY2021 and a new share buy-back programme of €1bn was announced
• Net profit attributable to shareholders increased by 2% to €2.1bn
• RoE was 13.3% for Q3 21 compared to 11.6% in Q3 20
• Net new money inflow was €25.7bn for Q3 21
• Allianz confirmed its slightly upgraded operating profit target range of €12-13bn for 2021
• Net profit attributable to shareholders rose by 46% to €2.23bn for Q2 21 versus Q2 20
• RoE was 15.6% in H1 21 compared to 11.4% in H1 20
• Allianz has slightly upgraded its operating profit target range to €12-13bn for 2021
• New share buy-back programme of €750m in H2 21
• Net profit attributable to shareholders decreased by 14% to €6.8bn for 2020
• Despite an equity increase of 9% and COVID-19 burdens the RoE was 11.4% for FY2020
• COVID-19 contributed “only” a loss of €1.3bn in 2020
• Dividend per share proposal is unchanged at €9.60 for FY2020
• Net profit attributable to shareholders increased by 6% to €2.1bn and is above consensus
• COVID-19 contributed “only” a loss of €100m in Q3 20
• Net new money inflow was €26bn for Q3 20
• Allianz cancelled the outstanding part of the share buy-back programme 2020 of €750m
• Net profit attributable to shareholders declined by 29% to €1.528bn for Q2 20
• RoE was 10.5% in Q2 20 compared to 13.6% in Q2 19
• Net new money was an inflow of €25.9bn for Q2 20 compared to an outflow of €46.4bn for Q1 20
• Solvency II ratio was 187% at the end of June 2020
• Net profit attributable to shareholders declined by 29% to €1.4bn for Q1 20 versus Q1 19
• RoE was 9.3% in Q1 20 compared to 13.7% in Q1 19
• Net new money was an outflow of €46.4bn for Q1 20 mostly in March compared to an inflow of €17.8bn for Q1 19
• Solvency II ratio was 190% at the end of March 2020
• Net profit attributable to shareholders increased by 6% to €7.9bn
• RoE was 13.6% in 2019 despite a 21% increase in shareholders’ funds to €74bn
• Net new money inflow was €76bn for 2019
• DPS increase by 7% and a new share buy-back programme of €1.5bn
• Net profit attributable to shareholders increased by 1% to €1.95bn
• RoE was 14.1% in Q3 19 despite a 22% increase in shareholders’ funds to €74.6bn in 9M 19
• Net new money inflow was €18bn for Q3 19
• Third-party AuM reached €1,681bn, an all-time high
• Net profit attributable to shareholders increased by 13% to €2.14bn
• RoE was a high 15.0% in Q2 19 despite a 12% increase in shareholders funds to €68.4bn in H1 19
• Net new money inflow was €20.3bn for Q2 19 compared to an outflow of €9bn for Q2 18
• Third party AuM reached €1,591bn, an all-time high
• Net profit attributable to shareholders increased by 2% to €1.97bn for Q1 19
• RoE was 13.7% in Q1 19 despite an increase in shareholders’ funds of 10% to €67bn
• Net new money inflow was €17.8bn for Q1 19 compared to an outflow of €31bn for Q4 18
• Third party AuM reached with €1,548bn, an all time high
Preliminary net profit attributable to shareholders increased by 10% to €7.5bn for FY2018 compared to the year before. Premiums earned were flat at €71.5bn in FY2018. Interest and similar income was down by 1% to €21.6bn and realised investment declined by 7% to €5.15bn for FY2018. Total operating income declined by 4% to €102.3bn in 2018 compared to 2017. Claims rose by 2% to €52.2bn for 2018. Total operating expenses declined by 5% to €90.8bn for 2018 compared to 2017. Operating profit (under
Net profit attributable to shareholders increased by 24% to €1.94bn for Q3 18 versus the same period last year. Premiums earned rose by 1% to €17.6bn for Q3 18. Operating investment result declined by 5.5% to €5.1bn for Q3 18 compared to Q3 17. Fee and commission income was up by 19% to €3.0bn in Q3 18. Insurance claims increased by 1.9% to €12.7bn in Q3 18. Changes in insurance reserves declined by 18% to €2.7bn for Q3 18. Operating profit increased by 21% to €3.0bn for Q3 18 compared to Q3 17.
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Weekly round-up of AIM-listed healthcare news.
Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics
Companies: ANIC RUA CREO GENI HEIQ IHC IXI IUG OPTI SBTX VAL VLG
Urban Logistics REIT (“ULR”) has delivered a solid FY22 performance – deploying capital apace and driving strong returns through active asset management. Earnings and dividend are both in line vs SCMe. EPRA NAV is 190p (+7% vs SCMe); as yield compression came as a bonus. Caution is being exercised in deploying remaining capital, which impacts FY23e earnings only. We upgrade EPRA NAV by 14-20% incorporating some (but not all) recent yield compression. We increase our Target Price to 210p (FY23e E
Companies: Urban Logistics REIT plc
Singer Capital Markets
Finals are in line on management fee earnings, but an unexpected performance fee drives a 6% earnings beat and a higher dividend. Recent market conditions have been challenging and have impacted AuM, down 12% in Q1 so far (vs pf incl. Majedie). We update our model, driving a 8-11% reduction in our earnings estimates. We think that the current 8x Mar-23e PER is already more than pricing in further forecast risk. We note a 6%+ prospective dividend yield generously covered by earnings with signific
Companies: Liontrust Asset Management PLC
Dish of the day
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What’s cooking in the IPO kitchen?
Visum Technologies seeking admission to The AQSE Growth Market. The Company's business is to own and operate an "on-ride" video and photographic camera system that it sells and/or licenses to customers (being theme parks, ride manufacturers, souvenir imaging providers, and other leisure operators). Due 30 June.
LifeSafe Holdings, a fire safety technology business with innovative fire safety p
Companies: TRR BMT CHH EEE IQE JADE LTG SKL
Marlowe delivered an impressive set of FY22A results, with underlying organic revenue growth of 9%, Adj EBITDA margins up 240bps to 18.6%, and Adj EBITDA of £54.4m (ahead of our £50.7m forecast). We make minor updates to our FY23E forecasts (Adj Diluted EPS increases 1% to 49.6p) and release new FY24E forecasts. Given the strength of Marlowe's business model, its defensive nature (non-discretionary products and services; 85%+ recurring revenue), the group's continued positive momentum (including
Companies: Marlowe Plc
Arrow Exploration (AXL LN)C; Target price of £0.45 per share: Another well delivers flow rate above expectations – The RCS-1 well was flow tested at oil rates of up 1,872 bbl/d (936 bbl/d net to Arrow) of 30 API crude from the C7B sands. The zone was tested for 33 hours at an average oil rate of 1,076 bbl/d (538 bbl/d net to Arrow) with no formation water. Production will start next week at ~1,000 bbl/d (500 bbl/d net) in order to mini
Companies: UKOG TXP SQZ BLOK AOI 88E ZPHR GPRK GPRK CEG AXL
Companies: AEW UK REIT PLC
Companies: Honeycomb Investment Trust Plc
Companies: ATOM D4T4 LINV
Dish of the day
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No Leavers Today.
What’s cooking in the IPO kitchen?
Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or request an overd
Companies: OMG WINE ADME AEE DORE SKIN
Stocks in focus this week are Personal Group, Johnson Service Group, Capita and Mears
Companies: Personal Group Holdings Plc
Companies: FTC LPA PCIP PPC
NextEnergy Solar Fund’s (NESF) full-year results show a 15% growth in NAV resulting from better pricing and new asset growth. The fund has been working hard to diversify its asset growth opportunity with battery storage in the UK and more international exposure through its commitment and co-investment opportunity with the NPIII private fund. From a strong start the fund is showing continued progress into the current year.
Companies: NextEnergy Solar Fund Ltd
Continued expansion at NPIII provides NESF with further geographical diversification as the private fund reaches more than 1GW of international PV assets. This adds to NESF’s moves in battery storage to build a more diversified portfolio, minimising exposure to any single asset type.
Companies: Premier Miton Global Renewables Trust Plc GBP