Allianz SE (ADR)(OTCMKTS:AZSEY) has been in a strong uptrend over the last couple of weeks. The stock has been forming higher highs and higher lows, indicative of the fact that bulls are in control at the current moment. Many traders believe the price action seen in the overnight session was a mere profit taking move and the dip in the stock should be used as buying opportunity by investors having a long term investment horizon. The momentum indicators for the stock continue to trend in the bullish zone and are showing no signs of a reversal, which is a bearish sign. Traders believe the stock could find support near the $17.43 level.
The excellent market conditions have helped Allianz SE (ADR)(OTCMKTS:AZSEY) finish one more quarter on a high note. As per the reports, it announced financial results for the recently concluded 2Q2015. Allianz’s revenue increased by 2.4% to 30.2 billion Euros.
Other than revenues, it also attained a reasonable growth of 2.4% in operating profits to reach 2.84 billion Euros level. Allianz has always kept its shareholders as its top priority, and the second quarter was no different in that reference.
When it comes to net income attributed to shareholders, Allianz reported a massive growth of 15% to touch 2.02 billion Euros level, something that had never happened before. The primary driving force behind this excellent growth rate was company’s non-operating gain, which’s 181 million Euros higher than the gain it reported during the same time in 2014.
The Solvency II capitalization of the company raised to 212%, a record in itself. Based on these numbers, Allianz elevated the operating profit outlook for the entire year to 10.8 billion Euros range.
The first six months of 2015 brought many successful moments for the company. One of them was 7.1% growth in revenues. As per the reports, the half-yearly revenues of the company rose to 67.9 billion Euros, while the operating profit increased to 5.70 billion Euros, 3.7% up than the year before. When it comes to net income attributed to shareholders for the first half of the year, Allianz reported a massive hike of 13.1% to 3.84 billion Euros.
The senior management team of the company is delighted to report such great numbers and hope that the market will continue to offer many more such successful moments in the future. Oliver Bäte, Chairman – Board of Management, Allianz SE, said that Allianz managed to achieve success despite the adverse market situation. It will continue to outgrow the market in the upcoming quarters as well.