Meadow Creek Investment Management LLC Purchases 82,068 Shares of AXA Equitable Holdings Inc (NYSE:EQH)
Meadow Creek Investment Management LLC increased its position in shares of AXA Equitable Holdings Inc (NYSE:EQH) by 66.2% during the second quarter, Holdings Channel reports. The institutional investor owned 206,052 shares of the company’s stock after purchasing an additional 82,068 shares during the period. Meadow Creek Investment Management LLC’s holdings in AXA Equitable were worth $4,306,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC increased its holdings in shares of AXA Equitable by 77.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,242 shares of the company’s stock valued at $26,000 after acquiring an additional 544 shares in the last quarter. Advisor Group Inc. increased its stake in AXA Equitable by 38.4% during the 2nd quarter. Advisor Group Inc. now owns 2,104 shares of the company’s stock valued at $44,000 after purchasing an additional 584 shares in the last quarter. Strs Ohio acquired a new position in AXA Equitable during the first quarter worth $61,000. Metropolitan Life Insurance Co NY raised its holdings in AXA Equitable by 18.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 5,765 shares of the company’s stock worth $116,000 after buying an additional 898 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in AXA Equitable by 118.2% during the second quarter. Signaturefd LLC now owns 6,501 shares of the company’s stock worth $136,000 after buying an additional 3,521 shares during the last quarter. Institutional investors and hedge funds own 60.90% of the company’s stock.
In other AXA Equitable news, major shareholder Axa sold 6,000,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $20.85, for a total value of $125,100,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Pearson bought 49,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were acquired at an average cost of $20.34 per share, with a total value of $996,660.00. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by insiders.
AXA Equitable (NYSE:EQH) last posted its earnings results on Thursday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.11. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. On average, analysts forecast that AXA Equitable Holdings Inc will post 4.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 22nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, August 21st. AXA Equitable’s payout ratio is currently 15.42%.
A number of research analysts have recently issued reports on EQH shares. Zacks Investment Research upgraded shares of AXA Equitable from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Wednesday, August 14th. Evercore ISI set a $28.00 target price on shares of AXA Equitable and gave the stock a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Co restated a “hold” rating and issued a $22.00 target price on shares of AXA Equitable in a report on Thursday, August 8th. ValuEngine cut shares of AXA Equitable from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley cut their price target on AXA Equitable from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.88.
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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