Seven Eight Capital LP bought a new stake in AXA Equitable Holdings Inc (NYSE:EQH) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 98,700 shares of the company’s stock, valued at approximately $2,117,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQH. BlackRock Inc. purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $218,703,000. OppenheimerFunds Inc. purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $174,506,000. Gabelli Funds LLC purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $2,061,000. First Trust Advisors LP purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $7,629,000. Finally, Millennium Management LLC purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $48,578,000. 28.74% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded AXA Equitable from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, October 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 price objective on shares of AXA Equitable in a research note on Friday, August 17th. Morgan Stanley decreased their price objective on AXA Equitable from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, July 11th. Barclays decreased their target price on AXA Equitable from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, July 9th. Finally, Evercore ISI began coverage on AXA Equitable in a research note on Friday, June 29th. They set an “outperform” rating and a $26.00 target price for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $25.25.
EQH stock opened at $20.66 on Tuesday. AXA Equitable Holdings Inc has a fifty-two week low of $19.50 and a fifty-two week high of $23.21.
AXA Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 14th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.07 billion. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, analysts anticipate that AXA Equitable Holdings Inc will post 3.55 earnings per share for the current fiscal year.
AXA Equitable 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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