Bank of America has named European insurance giant AXA as one of its top picks in the insurance sector, given its attractively low valuation and generous dividends. The investment bank believes AXA shares are a bargain because it is predicted to earn much more than its stock price suggests. This yield consists of a 6.8% dividend yield plus a 2.4% yield from the company buying back its own shares. AXA's valuation is said to be one of the lowest in its sector, even with the prediction of a steadily increasing dividend yield. Shares of the French multinational have risen by 3.8% so far this year and currently offer a dividend yield of 6.2%.

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Persons: Andrew Sinclair, Sinclair's Organizations: of America, AXA, Bank of America, CS, Atlantic, company's Locations: Paris