AXA Equitable (EQH) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of AXA Equitable (NYSE:EQH) from a hold rating to a sell rating in a report issued on Thursday.
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. “
Other equities analysts have also issued research reports about the stock. ValuEngine raised shares of AXA Equitable from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Wells Fargo & Co started coverage on shares of AXA Equitable in a research report on Tuesday, January 8th. They set a market perform rating and a $20.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. AXA Equitable presently has a consensus rating of Hold and an average price target of $24.62.
AXA Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, November 13th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.91 by $0.32. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $3.16 billion. On average, sell-side analysts expect that AXA Equitable will post 3.87 earnings per share for the current fiscal year.
In other news, major shareholder Axa sold 60,000,000 shares of the stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $19.74, for a total value of $1,184,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQH. Canada Pension Plan Investment Board grew its holdings in AXA Equitable by 41.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 16,555,432 shares of the company’s stock valued at $275,294,000 after purchasing an additional 4,868,432 shares in the last quarter. Pzena Investment Management LLC grew its holdings in AXA Equitable by 20.0% during the 3rd quarter. Pzena Investment Management LLC now owns 14,103,921 shares of the company’s stock valued at $302,529,000 after purchasing an additional 2,353,431 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in AXA Equitable by 18.8% during the 4th quarter. Thornburg Investment Management Inc. now owns 11,459,384 shares of the company’s stock valued at $190,570,000 after purchasing an additional 1,812,607 shares in the last quarter. Poplar Forest Capital LLC acquired a new stake in AXA Equitable during the 4th quarter valued at $29,459,000. Finally, Epoch Investment Partners Inc. grew its holdings in AXA Equitable by 42.2% during the 3rd quarter. Epoch Investment Partners Inc. now owns 4,715,152 shares of the company’s stock valued at $101,140,000 after purchasing an additional 1,399,300 shares in the last quarter. 28.51% of the stock is owned by institutional investors and hedge funds.
AXA Equitable Company Profile
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.
Recommended Story: Why is the LIBOR significant?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AXA Equitable Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXA Equitable and related companies with MarketBeat.com's FREE daily email newsletter.