AXA Equitable (NYSE:EQH) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of AXA Equitable (NYSE:EQH) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

EQH has been the topic of several other reports. Barclays reissued a sell rating on shares of easyJet in a research note on Monday, April 1st. Citigroup increased their target price on shares of Vistra Energy from $32.00 to $36.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Finally, Credit Suisse Group lowered their target price on shares of HollyFrontier from $63.00 to $61.00 and set a neutral rating on the stock in a research note on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $22.83.

NYSE:EQH opened at $22.46 on Wednesday. AXA Equitable has a one year low of $14.72 and a one year high of $23.21. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 0.67 and a beta of 1.32. The firm has a fifty day simple moving average of $21.12.

AXA Equitable (NYSE:EQH) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $3.15 billion. On average, equities research analysts anticipate that AXA Equitable will post 4.15 EPS for the current fiscal year.

In related news, insider Mark Pearson purchased 49,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were purchased at an average cost of $20.34 per share, with a total value of $996,660.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Axa sold 6,000,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were 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. Corporate insiders own 0.16% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Clark Capital Management Group Inc. purchased a new position in AXA Equitable in the 2nd quarter valued at about $1,521,000. Nisa Investment Advisors LLC lifted its stake in AXA Equitable by 672.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 67,392 shares of the company’s stock valued at $1,408,000 after buying an additional 58,664 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in AXA Equitable in the 2nd quarter valued at about $1,147,000. Dudley & Shanley Inc. purchased a new position in AXA Equitable in the 2nd quarter valued at about $279,000. Finally, Gulf International Bank UK Ltd lifted its stake in AXA Equitable by 3.1% in the 2nd quarter. Gulf International Bank UK Ltd now owns 51,973 shares of the company’s stock valued at $1,086,000 after buying an additional 1,573 shares in the last quarter. 50.90% of the stock is currently owned by hedge funds and other institutional investors.

AXA Equitable Company Profile

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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