In a remarkable display of market confidence, AXA Equitable Holdings Inc (NYSE:EQH) stock has reached an all-time high, touching $46.32. This milestone underscores a period of significant growth for the company, reflecting a bullish sentiment among investors. Over the past year, EQH has witnessed an impressive 73.96% increase in its stock value, a testament to the company's strong performance and potential for future gains. This surge to record levels positions EQH favorably in the eyes of both current shareholders and potential investors, signaling a robust financial outlook for the company.
In other recent news, AXA Equitable Holdings reported a strong second quarter, with non-GAAP operating earnings rising 23% year-over-year to $494 million. Assets under management and administration also saw an 11% increase, reaching $986 billion. The company returned $325 million to shareholders in Q2 and projected to generate between $1.4 and $1.5 billion in cash by 2024. Barclays (LON:BARC) initiated coverage on AXA Equitable Holdings with an Overweight rating, citing the company's shift towards capital-efficient products, robust capital position, and promising growth prospects in spread-based products. The firm also noted AXA Equitable's strong profitability profile and less dependence on credit risk. In addition to its financial performance, Equitable Holdings is actively exploring additional partnerships similar to those with AB and BlackRock (NYSE:BLK). The company aims to achieve 12-15% annual EPS growth through 2027 and expects increased inflows in late 2024 and early 2025. Equitable Holdings is also focusing on reducing mortality volatility and improving returns in its protection business. These are recent developments in the company's operations.
InvestingPro Insights
The recent surge in AXA Equitable Holdings Inc (EQH) stock to an all-time high is further supported by InvestingPro data, which reveals a staggering 78.96% total return over the past year. This performance aligns with the company's strong financial metrics, including a healthy revenue growth of 18.41% in the last twelve months as of Q2 2024, and an EBITDA growth of 15.36% over the same period.
InvestingPro Tips highlight that EQH has been consistently raising its dividend for 6 consecutive years, currently offering a dividend yield of 2.1%. This commitment to shareholder returns, coupled with management's aggressive share buyback program, suggests a strong focus on enhancing shareholder value.
Additionally, EQH is trading near its 52-week high, with its current price at 99.59% of that peak. This proximity to the high point, combined with the company's profitability over the last twelve months, reinforces the positive market sentiment reflected in the stock's performance.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for EQH, providing a deeper understanding of the company's financial health and market position.
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