Published on 11/19/2024 at 10:38 a.m.
(Boursier.com) — Axa lost 1.6% again to 33.70 euros this Tuesday, while HSBC retains the file with an adjusted objective of 37.50 euros. Barclays remains ‘overweight’ by raising its target to 42 euros. The group recently published 9-month activity indicators appreciated by the market. AlphaValue ‘accumulates’ the file with a price target adjusted to 42.10 euros, while the total gross premiums written and other income rose by 7%, driven by property and casualty insurance (+7%). and supported by growth in commercial insurance (+7%) due to favorable pricing effects across all geographies and an increase in volumes, notably at AXA XL Assurance, in personal insurance (+6%) thanks to favorable price effects. In life and health insurance, premiums are up 7%.
Asset management turnover increased by +6%, due to an increase in management fees reflecting the increase in average assets under management. The Solvency II ratio stood at 221% as of September 30, 2024, down 6 points compared to last June 30.
The group expects to maintain its good operational performance and is confident in its ability to achieve growth in operating income per share in 2024 in line with the objective announced in the strategic plan, i.e. 6% to 8% per year in average between 2023 and 2026…
