Microvast Holdings announces departure of chief financial officer
In a remarkable display of market confidence, AXA Equitable Holdings Inc (NYSE:EQH) stock has reached an all-time high, touching $53.78, pushing its market capitalization to $16.7 billion. According to InvestingPro analysis, the company currently trades near its Fair Value, with management actively buying back shares. This milestone underscores a period of robust performance for the company, reflecting investor optimism in its strategic direction and growth prospects. Over the past year, EQH has witnessed an impressive 65% return, outpacing many of its peers and signaling strong shareholder returns. The company has maintained a consistent dividend growth track record, raising payouts for seven consecutive years. This surge to record levels marks a significant achievement for EQH, as it continues to expand its footprint and solidify its position in the competitive financial landscape. For deeper insights into EQH's performance metrics and growth potential, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Equitable Holdings reported a significant increase in Q3 non-GAAP operating earnings, showing a robust 34% year-over-year growth to reach $501 million. The company's assets under management also experienced a substantial surge, exceeding $1 trillion, marking a 20% rise from the previous year. Equitable Holdings further announced the appointment of Douglas Dachille as an independent board member, aligning with corporate governance requirements for director independence.
BMO Capital Markets initiated coverage on Equitable Holdings with an Outperform rating and a price target of $70. The firm's optimistic outlook is based on the company's stable and potentially growing free cash flow profile, and its strategic shift towards more capital-efficient business models. Deutsche Bank (ETR:DBKGn) upgraded Equitable Holdings from Hold to Buy, acknowledging the company's strong position in the Registered Index-Linked Annuity (RILA) market and its robust capital situation.
Athene Holding (NYSE:ATH) Ltd. disclosed its third-quarter financial results, offering insights into its financial health. The report was signed off by the company's executive vice president and chief financial officer, Martin P. Klein, demonstrating the formal presentation of the financial results to the market and regulatory bodies. These are recent developments in the financial performance and strategic moves of both Equitable Holdings and Athene Holding.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.