Analysts Set AXA Equitable Holdings Inc (NYSE:EQH) PT at $24.00

AXA Equitable Holdings Inc (NYSE:EQH) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.50.

A number of equities analysts have recently commented on the company. Morgan Stanley cut their price objective on AXA Equitable from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Evercore ISI set a $28.00 target price on AXA Equitable and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine lowered AXA Equitable from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded AXA Equitable from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Monday. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $23.00 target price on shares of AXA Equitable in a research note on Monday.

In other AXA Equitable news, major shareholder Axa sold 144,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $21.80, for a total transaction of $3,139,200,000.00. Following the completion of the sale, the insider now owns 47,162,500 shares in the company, valued at approximately $1,028,142,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EQH. Invesco Ltd. grew its stake in AXA Equitable by 160.9% during the 2nd quarter. Invesco Ltd. now owns 20,928,587 shares of the company’s stock valued at $437,408,000 after purchasing an additional 12,907,089 shares in the last quarter. Vanguard Group Inc. grew its stake in AXA Equitable by 42.2% during the 2nd quarter. Vanguard Group Inc. now owns 29,462,606 shares of the company’s stock valued at $615,769,000 after purchasing an additional 8,745,196 shares in the last quarter. Viking Global Investors LP grew its stake in AXA Equitable by 1,197.3% during the 2nd quarter. Viking Global Investors LP now owns 8,842,350 shares of the company’s stock valued at $184,805,000 after purchasing an additional 8,160,750 shares in the last quarter. BlackRock Inc. grew its stake in AXA Equitable by 14.3% during the 2nd quarter. BlackRock Inc. now owns 30,017,399 shares of the company’s stock valued at $627,362,000 after purchasing an additional 3,744,780 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in AXA Equitable during the 2nd quarter valued at approximately $67,908,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

NYSE EQH traded up $0.40 during trading hours on Monday, hitting $23.50. 8,479,371 shares of the company’s stock were exchanged, compared to its average volume of 3,377,631. The business’s 50 day moving average is $21.98 and its 200-day moving average is $21.54. AXA Equitable has a 12-month low of $14.72 and a 12-month high of $23.90. The firm has a market capitalization of $11.53 billion, a P/E ratio of 6.04, a price-to-earnings-growth ratio of 0.70 and a beta of 1.35.

AXA Equitable (NYSE:EQH) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.28 billion. The business’s revenue for the quarter was up 179.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 earnings per share. On average, research analysts anticipate that AXA Equitable will post 4.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.55%. AXA Equitable’s dividend payout ratio (DPR) is presently 15.42%.

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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Analyst Recommendations for AXA Equitable (NYSE:EQH)

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