Zacks Investment Research upgraded shares of AXA Equitable (NYSE:EQH) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $23.00 price target on the stock.
According to Zacks, “AXA Equitable Holdings Inc. provides financial services which includes investment management insights and advisory solutions. The Company’s operating segments consists of Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions and Corporate and Other. AXA Equitable Holdings Inc. is based in New York. “
Several other brokerages have also recently issued reports on EQH. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $28.00 price objective on shares of AXA Equitable in a research note on Friday, August 17th. Morgan Stanley lowered their price objective on shares of AXA Equitable from $26.00 to $25.00 and set an overweight rating on the stock in a research note on Wednesday, July 11th. Barclays lowered their price objective on shares of AXA Equitable from $24.00 to $23.00 and set an equal weight rating on the stock in a research note on Monday, July 9th. Finally, Evercore ISI started coverage on shares of AXA Equitable in a research report on Friday, June 29th. They issued an outperform rating and a $26.00 target price on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. AXA Equitable has an average rating of Buy and a consensus price target of $25.25.
Shares of EQH opened at $20.71 on Tuesday. AXA Equitable has a 12-month low of $19.50 and a 12-month high of $23.21.
AXA Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, August 14th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.07 billion. The firm’s quarterly revenue was down 23.7% on a year-over-year basis. On average, sell-side analysts forecast that AXA Equitable will post 3.55 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in AXA Equitable during the second quarter valued at approximately $218,703,000. OppenheimerFunds Inc. purchased a new position in AXA Equitable during the second quarter valued at approximately $174,506,000. First Trust Advisors LP purchased a new position in AXA Equitable during the second quarter valued at approximately $7,629,000. Gabelli Funds LLC purchased a new position in AXA Equitable during the second quarter valued at approximately $2,061,000. Finally, Millennium Management LLC purchased a new position in AXA Equitable during the second quarter valued at approximately $48,578,000. 28.74% of the stock is currently owned by hedge funds and other institutional investors.
About AXA Equitable
AXA Equitable Holdings, Inc provides various financial services worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products, which are primarily sold to affluent and high net worth individuals.
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