Zacks Investment Research upgraded shares of AXA Equitable (NYSE:EQH) from a hold rating to a buy rating in a report released on Tuesday. They currently have $23.00 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. “
A number of other research firms have also commented on EQH. Keefe, Bruyette & Woods reissued a buy rating and issued a $28.00 target price on shares of AXA Equitable in a report on Friday, August 17th. Morgan Stanley reduced their target price on AXA Equitable from $26.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, July 11th. Barclays reduced their target price on AXA Equitable from $24.00 to $23.00 and set an equal weight rating for the company in a report on Monday, July 9th. Finally, Evercore ISI started coverage on AXA Equitable in a report on Friday, June 29th. They issued an outperform rating and a $26.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. AXA Equitable presently has a consensus rating of Buy and an average target price of $25.25.
AXA Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 14th. The company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.04. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.07 billion. AXA Equitable’s revenue for the quarter was down 23.7% on a year-over-year basis. Equities research analysts predict that AXA Equitable will post 3.55 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of EQH. Cambiar Investors LLC bought a new stake in shares of AXA Equitable in the second quarter worth $8,094,000. Amalgamated Bank bought a new stake in shares of AXA Equitable in the second quarter worth $321,000. BNP Paribas Arbitrage SA bought a new stake in shares of AXA Equitable in the second quarter worth $606,000. Tdam USA Inc. bought a new stake in shares of AXA Equitable in the second quarter worth $3,079,000. Finally, TD Asset Management Inc. bought a new stake in shares of AXA Equitable in the second quarter worth $8,008,000. 28.74% 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.
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