AXA Equitable (NYSE:EQH) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of AXA Equitable (NYSE:EQH) from a buy rating to a hold rating in a research report released on Wednesday morning, 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. “

A number of other research analysts have also weighed in on the stock. Credit Suisse Group dropped their price target on shares of HollyFrontier from $63.00 to $61.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. Citigroup raised their price target on shares of Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, Barclays reissued a sell rating on shares of easyJet in a research report on Monday, April 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $23.14.

Shares of AXA Equitable stock traded up $0.31 during trading hours on Wednesday, reaching $22.18. The company’s stock had a trading volume of 5,193,767 shares, compared to its average volume of 3,349,012. AXA Equitable has a one year low of $14.72 and a one year high of $23.21. The stock has a market cap of $10.72 billion, a P/E ratio of 5.70, a P/E/G ratio of 0.65 and a beta of 1.32. The business has a fifty day simple moving average of $21.10.

AXA Equitable (NYSE:EQH) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $3.15 billion. As a group, equities analysts predict that AXA Equitable will post 4.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Monday, June 3rd were given a dividend of $0.15 per share. This is a positive change from AXA Equitable’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, May 31st. AXA Equitable’s dividend payout ratio (DPR) is presently 15.42%.

In other AXA Equitable news, major shareholder Axa sold 6,000,000 shares of AXA Equitable stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $20.85, for a total value of $125,100,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Pearson acquired 49,000 shares of the stock in a transaction on Thursday, June 27th. The stock was bought at an average cost of $20.34 per share, for a total transaction of $996,660.00. The disclosure for this purchase can be found here. 0.16% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV bought a new stake in AXA Equitable in the first quarter worth about $391,000. OMERS ADMINISTRATION Corp purchased a new position in shares of AXA Equitable in the fourth quarter worth about $1,079,000. MUFG Securities EMEA plc purchased a new position in shares of AXA Equitable in the fourth quarter worth about $8,571,000. Algebris UK Ltd increased its stake in shares of AXA Equitable by 26.1% in the fourth quarter. Algebris UK Ltd now owns 502,810 shares of the company’s stock worth $8,362,000 after purchasing an additional 103,950 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of AXA Equitable by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 655,507 shares of the company’s stock worth $10,901,000 after purchasing an additional 6,347 shares in the last quarter. 50.90% of the stock is currently owned by institutional investors and hedge funds.

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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