AXA Equitable (NYSE:EQH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Separately, Keefe, Bruyette & Woods restated a “buy” rating and issued a $28.00 price target on shares of AXA Equitable in a research report on Friday, August 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. AXA Equitable presently has an average rating of “Buy” and an average target price of $25.25.
NYSE:EQH opened at $17.82 on Wednesday. AXA Equitable has a one year low of $17.41 and a one year high of $23.21.
AXA Equitable (NYSE:EQH) last posted its earnings results on Tuesday, November 13th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.91 by $0.32. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $3.16 billion. On average, research analysts forecast that AXA Equitable will post 3.83 earnings per share for the current year.
In other AXA Equitable news, major shareholder Axa sold 60,000,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $1,184,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC bought a new stake in AXA Equitable during the 2nd quarter valued at $329,944,000. Pzena Investment Management LLC grew its stake in shares of AXA Equitable by 20.0% in the 3rd quarter. Pzena Investment Management LLC now owns 14,103,921 shares of the company’s stock worth $302,529,000 after acquiring an additional 2,353,431 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of AXA Equitable in the 2nd quarter worth $288,540,000. Vanguard Group Inc. grew its stake in shares of AXA Equitable by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 12,848,848 shares of the company’s stock worth $275,608,000 after acquiring an additional 233,204 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of AXA Equitable in the 2nd quarter worth $218,703,000. Institutional investors and hedge funds own 27.99% of the company’s stock.
AXA Equitable Company Profile
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.
Further Reading: Analyst Ratings
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