ENXTPA:CSInsurance
AXA (ENXTPA:CS) Stock Trades Below Peers Despite 18% ROE
Investors pushed AXA to €44.94 at the 31 July close, capping a steady run over the past quarter. The stock looks calm on the screen while the earnings print tells a stronger story. Underlying earnings per share rose 8% in the first half and return on equity landed at 18%. That is a punchy outcome for a global insurer that still trades on a trailing P/E of 12.7x, below peers.
The market focused on the day’s move. Long term investors will likely focus on that earnings power and the confirmation...