In a remarkable display of market confidence, AXA Equitable Holdings Inc (NYSE:EQH) stock has reached an all-time high, touching $46.15. 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 71.72% 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 firm.
In other recent news, AXA Equitable Holdings Inc. demonstrated strong growth in its second quarter, with an increase in non-GAAP operating earnings of 23% year-over-year to $494 million. Assets under management and administration also saw an 11% rise, reaching $986 billion. These recent developments are part of a positive trend for the company, which returned $325 million to shareholders in Q2 and projected to generate between $1.4 and $1.5 billion in cash by 2024.
Barclays initiated coverage on AXA Equitable with an Overweight rating, highlighting the company's shift towards more 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 compared to its peers.
Equitable Holdings is actively exploring additional partnerships similar to those with AB and BlackRock (NYSE:BLK). Despite some negative flows in the Group Retirement business due to higher interest rates and larger account balances, the company's Wealth Management business is demonstrating strong growth. Equitable Holdings aims to achieve 12-15% annual EPS growth through 2027 and expects increased inflows in late 2024 and early 2025.
InvestingPro Insights
AXA Equitable Holdings Inc's (EQH) recent surge to an all-time high is further supported by InvestingPro data and insights. The company's stock has demonstrated a remarkable 74.59% total return over the past year, aligning closely with the article's reported 71.72% increase. This performance is part of a broader trend, with EQH showing a strong 25.42% return over the last six months.
InvestingPro Tips highlight that EQH has been trading near its 52-week high, which corroborates the article's mention of the stock reaching an all-time high. Additionally, the company has raised its dividend for six consecutive years, indicating a commitment to shareholder value that likely contributes to investor confidence.
From a financial perspective, EQH boasts a market capitalization of $14.61 billion and a revenue of $11.52 billion over the last twelve months as of Q2 2024. The company's revenue growth stands at an impressive 18.41% for the same period, suggesting solid operational performance underlying the stock's rise.
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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