ValuEngine Lowers AXA Equitable (NYSE:EQH) to Sell

AXA Equitable (NYSE:EQH) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of AXA Equitable from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, July 23rd. Citigroup increased their price target on shares of AXA Equitable from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Credit Suisse Group dropped their price target on shares of AXA Equitable from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.00.

EQH traded down $0.43 during trading on Thursday, hitting $20.69. 1,726,544 shares of the stock traded hands, compared to its average volume of 2,888,832. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a 50-day moving average price of $21.67. AXA Equitable has a 12-month low of $14.72 and a 12-month high of $23.21.

AXA Equitable (NYSE:EQH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Research analysts expect that AXA Equitable will post 4.16 earnings per share for the current fiscal year.

In related news, insider Mark Pearson bought 49,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average cost of $20.34 per share, with a total value of $996,660.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Axa sold 6,000,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.85, for a total transaction of $125,100,000.00. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Several large investors have recently bought and sold shares of EQH. BlackRock Inc. lifted its position in shares of AXA Equitable by 40.4% in the 1st quarter. BlackRock Inc. now owns 26,272,619 shares of the company’s stock worth $529,130,000 after purchasing an additional 7,558,072 shares during the period. FMR LLC lifted its position in shares of AXA Equitable by 70.8% in the 4th quarter. FMR LLC now owns 5,924,648 shares of the company’s stock worth $98,527,000 after purchasing an additional 2,456,148 shares during the period. First Trust Advisors LP lifted its position in shares of AXA Equitable by 302.1% in the 2nd quarter. First Trust Advisors LP now owns 2,928,909 shares of the company’s stock worth $61,214,000 after purchasing an additional 2,200,584 shares during the period. Pzena Investment Management LLC lifted its position in shares of AXA Equitable by 11.2% in the 1st quarter. Pzena Investment Management LLC now owns 15,899,582 shares of the company’s stock worth $320,218,000 after purchasing an additional 1,607,184 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of AXA Equitable by 2,148.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,210,360 shares of the company’s stock worth $24,376,000 after purchasing an additional 1,156,522 shares during the period. 50.94% of the stock is owned by hedge funds and other institutional investors.

About AXA Equitable

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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