Zacks Investment Research Lowers AXA Equitable (EQH) to Hold
Zacks Investment Research downgraded shares of AXA Equitable (NYSE:EQH) from a buy rating to a hold rating in a research 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 reiterated a buy rating and issued a $28.00 price target on shares of AXA Equitable in a research note on Friday, August 17th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. AXA Equitable currently has an average rating of Buy and a consensus target price of $25.00.
AXA Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, November 13th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.32. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. As a group, equities research analysts forecast that AXA Equitable will post 3.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 26th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 23rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.00%.
In other news, major shareholder Axa sold 60,000,000 shares of AXA Equitable stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $19.74, for a total value of $1,184,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. grew its position in AXA Equitable by 35.9% during the third quarter. Marshall Wace North America L.P. now owns 192,110 shares of the company’s stock valued at $4,120,000 after buying an additional 50,782 shares during the period. Marshall Wace LLP grew its position in AXA Equitable by 471.0% during the third quarter. Marshall Wace LLP now owns 836,005 shares of the company’s stock valued at $17,932,000 after buying an additional 689,588 shares during the period. Vanguard Group Inc. grew its position in AXA Equitable by 1.8% during the third quarter. Vanguard Group Inc. now owns 12,848,848 shares of the company’s stock valued at $275,608,000 after buying an additional 233,204 shares during the period. Morgan Stanley grew its position in AXA Equitable by 308.0% during the third quarter. Morgan Stanley now owns 357,482 shares of the company’s stock valued at $7,668,000 after buying an additional 269,869 shares during the period. Finally, Legal & General Group Plc grew its position in AXA Equitable by 45.0% during the third quarter. Legal & General Group Plc now owns 186,756 shares of the company’s stock valued at $4,005,000 after buying an additional 57,956 shares during the period. Institutional investors 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.
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