Zacks Investment Research upgraded shares of AXA Equitable (NYSE:EQH) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $20.00 price objective 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 reissued a buy rating and set a $28.00 price objective on shares of AXA Equitable in a research note on Friday, August 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $25.00.
Shares of EQH traded down $0.46 on Friday, hitting $17.36. 5,511,959 shares of the stock traded hands, compared to its average volume of 5,263,728. AXA Equitable has a 1 year low of $17.23 and a 1 year high of $23.21.
AXA Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, November 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.32. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. On average, equities analysts predict that AXA Equitable will post 3.83 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 26th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.00%. The ex-dividend date was Friday, November 23rd.
In related news, major shareholder Axa sold 60,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $1,184,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.
A number of hedge funds have recently modified their holdings of EQH. Citadel Advisors LLC acquired a new position in AXA Equitable during the second quarter worth approximately $329,944,000. Canada Pension Plan Investment Board acquired a new position in AXA Equitable during the second quarter worth approximately $288,540,000. BlackRock Inc. acquired a new position in AXA Equitable during the second quarter worth approximately $218,703,000. OppenheimerFunds Inc. acquired a new position in AXA Equitable during the second quarter worth approximately $174,506,000. Finally, Epoch Investment Partners Inc. acquired a new position in AXA Equitable during the second quarter worth approximately $68,340,000. 27.99% of the stock is owned by hedge funds and other institutional investors.
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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