In a remarkable display of market confidence, AXA Equitable Holdings Inc (NYSE:EQH) stock has reached an all-time high, touching a price level of $47.04. 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 66.94% change, outpacing many of its competitors and signaling strong operational performance and investor optimism. The surge to record levels marks a key achievement for EQH, as it continues to expand its presence and solidify its standing in the market.
In other recent news, AXA Equitable Holdings has been the subject of a positive analysis by Barclays (LON:BARC). The firm initiated coverage on the company with an Overweight rating, highlighting the company's shift towards more capital-efficient products, robust capital position, and growth prospects in spread-based products as key contributors to this outlook. Notably, Barclays sees AXA Equitable's less credit risk-dependent earnings as a potential advantage in uncertain economic conditions.
Further, AXA Equitable Holdings reported strong second-quarter results, with non-GAAP operating earnings rising 23% year-over-year to $494 million. The company also saw an 11% increase in assets under management and administration, reaching $986 billion. In addition, Equitable Holdings returned $325 million to shareholders in Q2 and projected to generate between $1.4 and $1.5 billion in cash by 2024.
The company is also actively exploring additional partnerships and aims to achieve 12-15% annual EPS growth through 2027. Despite some negative flows in the Group Retirement business, Equitable Holdings' Wealth Management business is demonstrating strong growth. These are among the recent developments for AXA Equitable Holdings.
InvestingPro Insights
The recent surge in AXA Equitable Holdings Inc (EQH) stock to an all-time high is further supported by data from InvestingPro. The company's stock has demonstrated a robust performance, with a 71.9% total return over the past year, aligning closely with the article's reported 66.94% change. This strong momentum is also evident in the short term, with a 17.2% total return over the last three months.
InvestingPro Tips highlight that EQH has raised its dividend for 6 consecutive years, a factor that may be contributing to investor confidence. Additionally, the company's management has been aggressively buying back shares, which often signals a belief in the company's value and future prospects.
It's worth noting that EQH is currently trading at 95.72% of its 52-week high, reinforcing the article's observation of the stock reaching record levels. While the company's P/E ratio stands at -39.11, analysts predict that EQH will be profitable this year, potentially explaining the market's bullish stance despite current negative earnings.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for EQH, providing a deeper insight into the company's financial health and market position.
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