Allianz refines buyback strategy, shares supported by robust DAX consensus

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-24, 09:39.

Allianz (DE0008404005) opens Wednesday trading as a core DAX and Euro Stoxx 50 insurer with a 2.5 billion euro share buyback framework running through 2026. The stock closed Tuesday on Xetra at 405.20 euros, according to exchange data.

What recent reports highlight

The current buyback tranche under the broader 2.5 billion euro program has seen Allianz repurchase around 120,000 shares in the third week of June, at an average price of just over 399 euros, as a German market report notes.Börse Global analysis on the Allianz buyback The framework follows the May 2026 annual general meeting authorization that confirmed the capital management roadmap.

Alongside the capital return, Allianz continues to emphasize its record operating performance. For the first quarter of 2026, the group posted an operating profit of 4.0 billion euros, marking a new high for a single quarter, as its May 13 results release underlined.Allianz Q1 2026 operating profit release Management described the start to the year as a "strong" one, supported by both property-casualty and life/health activities.

Analyst consensus on the Allianz shares

On the sell-side, consensus data collected by MarketScreener show that a majority of analysts rate Allianz as a buy or outperform, with an average target price in the mid-400-euro range per share as of late June 2026.MarketScreener consensus for Allianz The shares themselves most recently traded close to 405 euros, leaving moderate upside versus that average target.

The insurer’s valuation continues to be benchmarked against large European peers such as Munich Re and Zurich Insurance Group, both of which also sit in major indices like the Euro Stoxx 50. In that peer context, Allianz’s price-to-earnings multiple remains at a discount to some cross-border rivals, according to analyst commentary collated in the same consensus snapshot.Analyst overview for Allianz

How Allianz earns its money

Allianz generates most of its revenue and operating profit from property-casualty and life/health insurance, complemented by its asset management arm branded as Allianz Global Investors and PIMCO. The group writes policies for retail and corporate clients and invests the associated premiums.

Where the Allianz shares trade today

The Allianz shares (DE0008404005) trade on Xetra at 405.20 euros as of 2026-06-23, 17:35, with a market capitalization of around 154 billion euros based on that closing price.

This article is for informational purposes only and does not constitute investment advice, an offer or a solicitation to buy or sell any security. Historical data and analyst estimates are not guarantees of future performance.