AXA Equitable (EQH) Downgraded by Zacks Investment Research

AXA Equitable (NYSE:EQH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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. “

EQH has been the topic of a number of other reports. Citigroup lifted their price target on AXA Equitable from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Credit Suisse Group cut their price target on AXA Equitable from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Barclays lifted their price target on AXA Equitable from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, April 1st. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $20.00 price target on shares of AXA Equitable in a report on Thursday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.31.

NYSE EQH traded up $0.13 on Wednesday, reaching $21.41. 2,312,400 shares of the stock traded hands, compared to its average volume of 2,924,495. The firm has a market cap of $10.19 billion and a PE ratio of 5.50. AXA Equitable has a 12 month low of $14.72 and a 12 month high of $23.21.

AXA Equitable (NYSE:EQH) last issued its earnings results on Thursday, February 28th. The company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $3.22 billion. On average, equities research analysts anticipate that AXA Equitable will post 4.13 earnings per share for the current year.

In related news, major shareholder Axa sold 46,000,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $19.99, for a total transaction of $919,540,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in EQH. Bank of New York Mellon Corp grew its stake in AXA Equitable by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 324,634 shares of the company’s stock worth $6,964,000 after buying an additional 11,278 shares during the last quarter. Jane Street Group LLC purchased a new position in AXA Equitable during the 3rd quarter worth $225,000. TIAA CREF Investment Management LLC grew its stake in AXA Equitable by 2.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,212,831 shares of the company’s stock worth $68,915,000 after buying an additional 86,858 shares during the last quarter. Legal & General Group Plc grew its stake in AXA Equitable by 45.0% during the 3rd quarter. Legal & General Group Plc now owns 186,756 shares of the company’s stock worth $4,005,000 after buying an additional 57,956 shares during the last quarter. Finally, Morgan Stanley grew its stake in AXA Equitable by 308.0% during the 3rd quarter. Morgan Stanley now owns 357,482 shares of the company’s stock worth $7,668,000 after buying an additional 269,869 shares during the last quarter. Hedge funds and other institutional investors own 48.87% of the company’s stock.

AXA Equitable Company Profile

AXA Equitable Holdings, Inc operates as a diversified financial services company 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 primarily to affluent and high net worth individuals.

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