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Here is how Axa Sa (AXAHY) and Banco Comercial Portugues S.A. Unsponsored ADR (BPCGY) have performed compared to their sector so far this year.
BNP Paribas Chief Financial Officer Lars Machenil discusses the bank's strategy and its push to buy the investment business of insurer AXA.
Axa (AXAHY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Here is how Axa Sa (AXAHY) and Banco Comercial Portugues S.A. Unsponsored ADR (BPCGY) have performed compared to their sector so far this year.
AXA is an insurance company, deriving 25% of its revenue from France. The focus on insurance is set to increase with the divestment of its asset management unit, AXA IM. AXA has outperformed iShares MSCI Europe Financials ETF in 2024 with a 23% total return. I expect the outperformance to continue thanks to an attractive P/E multiple, value creation from the AXA IM transaction, and a valuation discount relative to Allianz.
AXA SA (AXAHY) Q2 2024 Earnings Call Transcript
BNP Paribas' talks to buy the investment business of insurer AXA will trigger more deals, bankers say, as European money managers seek to fend off U.S. rivals and as customers demand cheap technology-driven investing.
BNP Paribas is in exclusive talks with French insurer AXA to aqcuire 100% of its AXA Investment Managers arm, the euro zone's biggest bank said on Thursday.
BNP PARIBAS ENTERS INTO EXCLUSIVE NEGOTIATIONS WITH AXA FOR THE ACQUISITION OF AXA INVESTMENT MANAGERS AND A LONG-TERM PARTNERSHIP IN ASSET MANAGEMENT
Macron's decision to dissolve the government led to market instability in France, affecting AXA's valuation. Price increases are a vital driver of revenue growth. AXA Q1 was also supported by higher asset management profits boosted by AuM flows. Solid balance sheet and attractive valuation. This is a clear buy.