Zacks Investment Research Upgrades AXA Equitable (EQH) to Buy
Zacks Investment Research upgraded shares of AXA Equitable (NYSE:EQH) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $23.00 target price 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. “
Separately, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $28.00 price target on shares of AXA Equitable in a report on Friday, August 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $25.25.
AXA Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, November 13th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.32. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. As a group, analysts anticipate that AXA Equitable will post 3.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 26th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, November 23rd. This represents a $0.52 annualized dividend and a dividend yield of 2.62%.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of AXA Equitable during the 2nd quarter valued at about $218,703,000. OppenheimerFunds Inc. bought a new position in shares of AXA Equitable during the 2nd quarter valued at about $174,506,000. Voya Investment Management LLC bought a new position in shares of AXA Equitable during the 2nd quarter valued at about $598,000. Bank of America Corp DE bought a new position in shares of AXA Equitable during the 2nd quarter valued at about $3,319,000. Finally, Gabelli Funds LLC bought a new position in shares of AXA Equitable during the 2nd quarter valued at about $2,061,000. Hedge funds and other institutional investors own 28.13% of the company’s stock.
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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