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 $51.41. With a market capitalization of $15.64 billion, the company has shown strong momentum, supported by management's aggressive share buyback program and a consistent 7-year dividend growth streak, according to InvestingPro data. This milestone underscores a period of robust performance for the company, which has seen an impressive 56.44% return over the past year. Investors have rallied behind EQH, propelling the stock to new heights as the company continues to capitalize on strategic initiatives and a favorable economic environment. The all-time high represents not just a peak for the past 52 weeks, but the highest price point the stock has achieved since its listing, signaling strong investor optimism for the future of AXH Equitable Holdings. Analysts maintain a positive outlook, with price targets reaching as high as $61, and the stock currently offers a 1.92% dividend yield. For deeper insights and access to 10+ additional exclusive ProTips about EQH, visit InvestingPro.
In other recent news, Equitable Holdings reported a significant increase in its third-quarter non-GAAP operating earnings, with a 34% year-over-year rise to $501 million, or $1.53 per share. The company's adjusted non-GAAP EPS was $1.59, reflecting a 22% increase, and assets under management surpassed $1 trillion, a 20% increase from the previous year. These recent developments demonstrate the company's continued growth in key segments.
In related news, Deutsche Bank (ETR:DBKGn) upgraded Equitable Holdings from Hold to Buy, citing the company's potential for growth and increased value for shareholders. The analysts highlighted the company's dominant position in the Registered Index-Linked Annuity market, robust capital situation, and continuous efforts to optimize operations as key factors supporting the upgrade.
Meanwhile, Athene Holding (NYSE:ATH) Ltd. disclosed its third-quarter financial results, providing essential insights into its financial health and operational outcomes. The company's executive vice president and chief financial officer, Martin P. Klein, signed off on the report, underscoring the formal presentation of the financial results to the market and regulatory bodies.
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