AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
  • TickerCS
  • ISINFR0000120628
  • ExchangeEuronext Paris
  • SectorNonlife Insurance
  • CountryFrance
Olivier Pauchaut

SECTOR UPDATE | Financials & Fintech Insurance:When solvency goes, everything goes!

The quick and decisive action taken by central banks prevented a financial crisis that would have destroyed solvency margins for insurance and reinsurance groups, thereby allowing them to focus on the health crisis (insured costs) and the economic crisis (decline in insurable assets, investment losses). While the impacts are expected to be hefty, they should remain in the realm of an earnings event (impact of 15-35% on earnings initially expected for 2020, and probably some overspill into 2021), admittedly painful but manageable, and without becoming a solvency event (limited impact of 1-4% of...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Laurence Hofmann
  • Martial Descoutures
  • Sebastien Malafosse

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/17/2020

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. Cf; report ppublished last evening. - ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Laurence Hofmann
  • Martial Descoutures
  • Sebastien Malafosse

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/06/2020

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. Cf. étude publiée hier soir. - ...

Benoit Valleaux

AXA : Adjustment to our 2020 earnings forecasts but Buy reiterated

>Coronavirus expected to have a significant impact this year - Bear in mind that AXA stated on 3 June that it was expecting a claims charge after tax of € 1.2bn in 2020 due to the coronavirus. The most significant losses will come from the insurance for business interruption and events cancellation. But the total also includes losses in other business lines (D&O, liability, travel) and is net of the favourable impact of claims in the other business lines (particularly...

Benoit Valleaux

AXA : Révision de notre prévision de RN 2020, recommandation à l’Achat réitérée

>Un impact important du coronavirus attendu cette année - Pour rappel, AXA a indiqué le 3 juin dernier prévoir une charge de sinistres en assurance dommages après impôts de 1.2 Md€ en 2020 du fait du coronavirus. Les pertes les plus importantes proviendront de l’assurance perte d’exploitation et annulation d’événement. Mais ce montant inclut également des pertes dans d’autres lignes métiers (responsabilité des dirigeants, responsabilité civile, voyage) et est net de l...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Overweight Global Technology & Industrials The absence of breakdowns in both the US dollar (DXY) and the MSCI EAFE vs. EM ratio along with the positive correlation between the two allows us to continue sticking with EAFE over EM... see charts below. As long as the DXY's uptrend remains intact, we expect EAFE to continue outperforming EM. Below we highlight attractive and actionable themes within developed int'l markets: • Technology and Industrial Manufacturing. Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account fo...

Matthieu DRIOL

Short term view - AXA : Falling prices.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €21.40.

Matthieu DRIOL

Analyse court terme - AXA : Les cours baissent.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 21,40 €.

Matthieu DRIOL

Short term view - AXA : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Matthieu DRIOL

Analyse court terme - AXA : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

Axa: 1 director bought

A director at Axa bought 3,950 shares at 24.345EUR and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members a...

Olivier Pauchaut

SECTOR UPDATE | Financials & Fintech Insurance:When solvency goes, everything goes!

The quick and decisive action taken by central banks prevented a financial crisis that would have destroyed solvency margins for insurance and reinsurance groups, thereby allowing them to focus on the health crisis (insured costs) and the economic crisis (decline in insurable assets, investment losses). While the impacts are expected to be hefty, they should remain in the realm of an earnings event (impact of 15-35% on earnings initially expected for 2020, and probably some overspill into 2021), admittedly painful but manageable, and without becoming a solvency event (limited impact of 1-4% of...

Benoit Valleaux

AXA : Adjustment to our 2020 earnings forecasts but Buy reiterated

>Coronavirus expected to have a significant impact this year - Bear in mind that AXA stated on 3 June that it was expecting a claims charge after tax of € 1.2bn in 2020 due to the coronavirus. The most significant losses will come from the insurance for business interruption and events cancellation. But the total also includes losses in other business lines (D&O, liability, travel) and is net of the favourable impact of claims in the other business lines (particularly...

Benoit Valleaux

AXA : Révision de notre prévision de RN 2020, recommandation à l’Achat réitérée

>Un impact important du coronavirus attendu cette année - Pour rappel, AXA a indiqué le 3 juin dernier prévoir une charge de sinistres en assurance dommages après impôts de 1.2 Md€ en 2020 du fait du coronavirus. Les pertes les plus importantes proviendront de l’assurance perte d’exploitation et annulation d’événement. Mais ce montant inclut également des pertes dans d’autres lignes métiers (responsabilité des dirigeants, responsabilité civile, voyage) et est net de l...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Jean-Christophe Dourret

AXA : Axa - 15 June 2020

...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 14/11/2019 - KBC - EN

KBC (O/P): Net Profit of €1.8bn (-8.3%) In The Nine-Month Period of 2019 NN Group (O/P) - 9M-19: Operating Income of €1.4bn (+6.5%) AXA (O/P): Sale of The Balance of Its Stake In Axa Equitable Holdings Bouygues (M/P) - 9M-19: EBIT of €1.1bn (+30.3%) EDF (U/P): Cuts French Nuclear Output Target On Cruas Reactors For 2019 Telia (M/P): EC Approves The Acquisition of Bonnier AB For $1bn Thyssenkrupp (O/P): 3G Capital Interested To Acquire The Elevator Business For €15bn Moody's Upgrades Arkema (O/P) By One Notch To Baa1 With A Stable ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 14/11/2019 - KBC - FR

KBC (Achat) : RN de €1,8 md (-8,3%) sur les 9M-19 NN Group (Achat) - 9M-19 : Résultat opérationnel de €1,4 md (+6,5%) AXA (Achat) : Cession du solde de sa participation dans Axa Equitable Holdings Bouygues (Conserver) – 9M-19 : EBIT  de €1,1 md (+30,3%) EDF (Vente) : Abaisse sa prévision de production nucléaire en France pour 2019 Telia (Conserver) : Feu vert du CE pour l’acquisition de Bonnier AB pour $1 md Thyssenkrupp (Achat) : Le fonds 3G envisage d’acquérir l'activité Ascenseur pour ~€15 mds Arkema (Achat) : Moody’s rehausse ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - FR

UniCredit (Achat) : RN de €4,3mds sur les 9M-19 (versus €2,2mds un an avant), amélioration de la qualité d’actifs Generali (Achat) - 9M-19 : RN en hausse de +17% à €2,2mds ING (Achat): Emission d'un nouveau titre Tier 2  11NC6 AXA (Achat) - 9M-19 : CA de €79,7 mds (+5%) Coty (Achat) - T1-2019/20 : Résultat opérationnel de $155m (+10%) ArcelorMittal (Achat) - 9M-19 :  EBITDA de $4,3 mds (-48,6%) CNH Industrial (Achat) - 9M-19 :  EBIT de $1,5 md (-6,3%) Wirecard (Achat) - 9M-19 : EBITDA de €553m (+38,4%)

Carine Maciol

AXA : Test it_be

>Titre 1 : style titre paragraphe - Texte au style texte paragraphe, la hauteur de la cellule est fixe, ne pas la modifier, ne pas fusionner les cellules de texte et de titreTitre 2 : style titre paragraphe - Texte au style texte paragraphe, la hauteur de la cellule est fixe, ne pas la modifier, ne pas fusionner les cellules de texte et de titreTitre 3 : style titre paragraphe - Texte au style texte paragraphe, la hauteur de la cellul...

Carine Maciol

AXA : Successful transformation

>Strengths/Opportunities - - Remarkable geographical coverage, with an ongoing refocusing on 16 markets: in 10 countries, the priority is to boost organic growth (with a focus on health, protection and commercial P&C insurance), while six other countries (Brazil, China, Indonesia, Mexico, Philippines and Thailand) have been selected because of their growth potential. The group's businesses in 26 other countries, representing approximately 6% of earnings, are currently...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Laurence Hofmann
  • Martial Descoutures
  • Sebastien Malafosse

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/17/2020

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. Cf; report ppublished last evening. - ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Laurence Hofmann
  • Martial Descoutures
  • Sebastien Malafosse

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/06/2020

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. Cf. étude publiée hier soir. - ...

Benoit Valleaux ...
  • Emmanuel Matot
  • Martial Descoutures
  • Olfa Taamallah
  • Sebastien Malafosse
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/03/2020

...

Benoit Valleaux ...
  • Emmanuel Matot
  • Martial Descoutures
  • Olfa Taamallah
  • Sebastien Malafosse
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/06/2020

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/06/2020

Faced with uncertainty as to what shape the next recovery cycle may take, we have attempted to build a sector allocation approach based on three pillars: 1/ buy sectors offering an EY - Bund spread higher than the long-term average) 2/ minimise the risk on earnings expectations by favouring sectors for which the speed of revision is higher than that achieved at the same time stage of the crisis in 2008-2009 3/ favour sectors whose price performance is more severe than the decline in e...

Increased risk weighs on AXA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of AXA (FR), active in the Full Line Insurance industry. As regards its fundamental valuation, the title still shows 3 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date June 9, 2020, the closing price was EUR 19.41 and its target price was estimated at EUR 12.84.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

AXA – AGM 30 June 2020

 The General Meeting Assembly was postponed from 30 April 2020 to 30 June 2020 due to the Covid-19 crisis. The following changes were made to the agenda:- the dividend has been reduced to €0.73 per share. This decision follows the press releases of the European Insurance and Occupational Pensions Authority (EIOPA) and the French Autorité de Contrôle Prudentiel et de Résolution (ACPR), relating to the adoption of a prudent approach to dividend distribution during the Covid-19 pandemic, which ECGS approves (resolution 3).- due to the death of Stefan Lippe in April 2020, it is proposed to re-elec...

Charles Pinel

Axa - Assemblée Générale des actionnaires du 30 Juin 2020

L'assemblée générale devait initialement se tenir le 30 avril 2020 et a été reportée au 30 juin 2020 à cause de la crise du Covid-19. Les modifications suivantes ont été apportées à l'ordre du jour :- le dividende s'élevait initialement à 1,43 € par action contre 1,34 € l'an passé mais a été réduit en raison de la crise du Covid-19 et s'élèvera à 0,73 € par action. Cette décision fait suite aux communiqués de l'Autorité européenne des assurances et des pensions professionnelles (European Insurance and Occupational Pensions Authority - EIOPA) et de l'Autorité de Contrôle Prudentiel et de Résolu...

AXA - AGM 24 April 2019

Once again, the total remunerations granted to the CEO and the Chairman of the Board are excessive (items 4-5). Items 6-7: the remuneration principles for the CEO and the Chairman of the Board for the next financial year remain unchanged. Item 9 seeks shareholder approval to re-elect Jean-Pierre Clamadieu as Director, for a 4 year term. If approved, he will replace Jean-Martin Folz as independent lead director and Chairman of the Compensation and Governance Committee. He is considered as independent, ECGS recommends that shareholders approve this re-election, as well as the ratification of t...

AXA - Assemblée générale des actionnaires du 24 avril 2019

REMUNERATIONSComme lors de l'exercice précédent, les rémunérations attribuées au Directeur Général et au Président du Conseil sont trop élevées et les politiques de rémunération pour le prochain exercice demeurent inchangées. Des recommandations négatives sont donc proposées pour les résolutions 4 à 7. CONSEIL D'ADMINISTRATIONIl est proposé à l'Assemblée Générale de renouveler le mandat d'administrateur de Jean-Pierre Clamadieu. Si le renouvellement est accepté, ce dernier remplacera Jean-Martin Folz, qui n'a pas souhaité solliciter le renouvellement de son mandat arrivant à expiration à l'is...

Axa - Assemblée générale des actionnaires du 30 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

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