AXA S.A., FR0000120628

AXA stock raises earnings targets with its 2027 to 2029 plan

Published on 10/05/2026 at 13:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AXA stock was last at EUR 41.916 on Euronext Paris on October 2. The 2027 to 2029 plan targets 7 to 9 percent EPS growth, while half-year 2026 EPS rose 8 percent.

Handelsraum mit großer CAC 40 Kursanzeige und arbeitenden Börsenhändlern — Trading-Floor-Editorial mit großer CAC-40-Kurstafel repräsentiert die Börsennotierung von AXA S.A. (FR0000120628) an der Euronext Paris, Illustration mit AI erstellt.

AXA stock (ISIN FR0000120628) was last at EUR 41.916 on Euronext Paris on October 2, 2026, while the insurer's new plan targets annual underlying earnings per share growth of 7 to 9 percent from 2026 through 2029. The target range is higher than the previous 6 to 8 percent objective for 2026, making earnings execution the central test for the shares.

Higher targets reset the growth case

According to AXA on September 15, 2026, the Growing Forward plan also targets underlying return on equity of 15 to 17 percent for 2027 to 2029, compared with a 14 to 16 percent target for 2026.

The company retained a total payout ratio target of 75 percent. That combination matters because AXA is raising its earnings ambition while keeping a defined framework for dividends and buybacks.

Half-year figures support the plan

AXA entered the new strategy period with solid half-year operating data. In its Q2 2026 earnings call, Yahoo Finance reported 8 percent underlying EPS growth, 18 percent return on equity and a 218 percent Solvency II ratio for the half year ended June 30, 2026.

The operating mix was also quantified: property and casualty earnings increased 6 percent, while life and health earnings rose 11 percent in the first half of 2026, according to the same earnings-call transcript. Those figures give the new plan a wider base than a single cost-cutting measure.

Analysts see room above the price

RBC Capital cut its target from EUR 54 to EUR 52 but kept an Outperform rating on September 25, 2026, according to Markets Insider. The change reflects lower buyback expectations, partly offset by the plan's focus on customer retention and artificial intelligence.

MarketScreener listed a Buy consensus from 18 analysts, with an average target of EUR 52.04. That target lies 24.1 percent above the EUR 41.916 price, a gap that leaves the market focused on whether AXA can convert its higher targets into recurring earnings.

AXA stock stays below its target range

AXA stock was last at EUR 41.916 on Euronext Paris on October 2, 2026, with a daily gain of 0.04 percent, a session high of EUR 42.160 and a session low of EUR 41.620. Its market capitalization was EUR 87.6 billion on that date.