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

Zacks Investment Research cut 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. “

A number of other brokerages have also issued reports on EQH. Credit Suisse Group lowered their price target on HollyFrontier from $63.00 to $61.00 and set a neutral rating for the company in a report on Wednesday, April 3rd. Barclays reiterated a sell rating on shares of easyJet in a report on Monday, April 1st. Finally, Citigroup boosted their price target on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. AXA Equitable has a consensus rating of Hold and a consensus price target of $22.83.

Shares of NYSE EQH opened at $22.46 on Wednesday. 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 company has a 50 day moving average price of $21.12. AXA Equitable has a 52-week low of $14.72 and a 52-week high of $23.21.

AXA Equitable (NYSE:EQH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $3.15 billion. As a group, equities research analysts predict that AXA Equitable will post 4.15 EPS for the current year.

In related news, major shareholder Axa sold 6,000,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were 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 accessible through the SEC website. Also, insider Mark Pearson acquired 49,000 shares of AXA Equitable stock in a transaction that occurred on Thursday, June 27th. The stock was 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. Insiders own 0.16% of the company’s stock.

A number of large investors have recently modified their holdings of EQH. CENTRAL TRUST Co bought a new position in AXA Equitable in the first quarter worth approximately $42,000. American International Group Inc. increased its position in shares of AXA Equitable by 44.6% during the fourth quarter. American International Group Inc. now owns 3,610 shares of the company’s stock worth $60,000 after purchasing an additional 1,114 shares in the last quarter. Strs Ohio acquired a new position in shares of AXA Equitable during the first quarter worth $61,000. Metropolitan Life Insurance Co. NY increased its position in shares of AXA Equitable by 44.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,867 shares of the company’s stock worth $81,000 after purchasing an additional 1,507 shares in the last quarter. Finally, Quantamental Technologies LLC increased its position in shares of AXA Equitable by 840.0% during the first quarter. Quantamental Technologies LLC now owns 4,700 shares of the company’s stock worth $95,000 after purchasing an additional 4,200 shares in the last quarter. 50.90% of the stock is owned by 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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