In a remarkable display of market confidence, AXA Equitable Holdings Inc (NYSE:EQH) stock has soared to an all-time high, touching a price level of $44.52. This milestone underscores a period of significant growth for the company, which has seen its stock value surge by an impressive 57.58% over the past year. Investors have rallied behind EQH, buoyed by strong financial performance and positive market sentiment, propelling the stock to new heights and setting a robust precedent for its future trajectory.
In other recent news, AXA Equitable Holdings reported robust growth across its Retirement, Asset Management, and Wealth Management divisions. The company's non-GAAP operating earnings rose 23% year-over-year to $494 million, and assets under management and administration saw an 11% increase, reaching $986 billion. Equitable Holdings returned $325 million to shareholders in Q2 and projects to generate between $1.4 and $1.5 billion in cash by 2024.
Barclays initiated coverage on AXA Equitable Holdings with an Overweight rating, pointing out the company's shift towards more capital-efficient products, a robust capital position, and promising growth prospects in spread-based products. Barclays expects the company's stock to outperform the average total return of stocks in the sector over the next 12 months.
Equitable Holdings aims to achieve 12-15% annual EPS growth through 2027 and is also focusing on reducing mortality volatility and improving returns in its protection business. The company is exploring additional partnerships similar to those with AB and BlackRock (NYSE:BLK). These are recent developments that could shape the company's future performance.
InvestingPro Insights
AXA Equitable Holdings Inc's (EQH) recent stock performance aligns with several key metrics and insights from InvestingPro. The company's stock is currently trading near its 52-week high, with a remarkable 64.26% price total return over the past year. This performance is consistent with the article's mention of a 57.58% surge, highlighting EQH's strong market position.
InvestingPro data reveals that EQH has a market capitalization of $14.08 billion and a P/E ratio of 17.88, suggesting a reasonable valuation given its growth trajectory. The company's revenue growth is noteworthy, with a 47.67% increase in the most recent quarter, indicating robust business expansion.
Two relevant InvestingPro Tips further support the stock's positive momentum:
1. EQH has raised its dividend for 6 consecutive years, demonstrating a commitment to shareholder returns.
2. The company has been profitable over the last twelve months, underpinning its financial stability.
These insights, along with 8 additional tips available on InvestingPro, provide a comprehensive view of EQH's financial health and market position. For investors seeking to capitalize on EQH's upward trajectory, InvestingPro offers a wealth of data and analysis to inform investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.