AXA S.A., FR0000120628

AXA agrees EUR 470.80 million buyback. Goldman targets AXA stock at EUR 50.00

Published on 10/07/2026 at 09:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AXA will repurchase shares for EUR 470.80 million under Shareplan 2026. AXA stock costs EUR 42.31 on October 7, 2026 versus EUR 42.57.

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AXA agreed on October 1, 2026, to repurchase and cancel its own shares for up to EUR 470.80 million under the Shareplan 2026 employee offering. Goldman Sachs raised its AXA target from EUR 48.50 to EUR 50.00 in a note dated September 18, 2026, while keeping its Buy rating, according to FinanzNachrichten.

Buyback neutralizes employee dilution

AXA says the transaction is designed to offset the dilution associated with the 2026 employee share offering, rather than to signal a separate increase in capital returns. The repurchase price will be based on the volume-weighted average AXA share price over 20 trading days beginning October 2, 2026, and the transactions will end by October 29, 2026, according to AXA.

The EUR 470.80 million ceiling gives the announcement a measurable scale, but the stated purpose limits its direct earnings impact. The cancellation of repurchased shares is intended to protect per-share metrics from the employee issuance.

Targets move above 2026 guidance

AXA's 2027 to 2029 plan targets underlying earnings per share growth of 7.00 to 9.00 percent annually, compared with 2026 guidance of 6.00 to 8.00 percent. It also targets underlying return on equity of 15.00 to 17.00 percent, versus 14.00 to 16.00 percent for 2026, according to AXA.

Reuters reported on September 15, 2026, that AXA expects the top end of its 2026 earnings growth and return on equity ranges. The comparison matters because the new plan raises the lower and upper ends of both long-term targets by 1.00 percentage point.

AXA stock stays below Goldman target

AXA stock was trading at EUR 42.31 at Lang & Schwarz on October 7, 2026 at 9:50 a.m. CEST, down 0.61 percent versus the prior close of EUR 42.57. The Goldman Sachs target of EUR 50.00 stands EUR 7.69 above that euro reference price, although the target is an analyst estimate rather than a company commitment.

AXA is listed on Euronext Paris under ticker CS and carries ISIN FR0000120628, as stated in the company release distributed by Webdisclosure. The further course of trading is shown by the continuously updated real-time quote of AXA stock.