AXA Equitable (NYSE:EQH) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of AXA Equitable (NYSE:EQH) from a buy rating to a hold rating in a research report released on Wednesday morning, 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. “

Several other analysts have also recently issued reports on EQH. Credit Suisse Group lowered their price objective on shares of HollyFrontier from $63.00 to $61.00 and set a neutral rating for the company in a research note on Wednesday, April 3rd. Barclays restated a sell rating on shares of easyJet in a report on Monday, April 1st. Finally, Citigroup lifted their target price on shares of Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $22.83.

Shares of NYSE EQH opened at $22.46 on Wednesday. AXA Equitable has a 52-week low of $14.72 and a 52-week high of $23.21. The company’s fifty day moving average is $21.12. The stock has a market cap of $11.03 billion, a PE ratio of 5.77, a PEG ratio of 0.66 and a beta of 1.32.

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

In related news, major shareholder Axa sold 40,000,000 shares of AXA Equitable stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.85, for a total transaction of $834,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Pearson bought 49,000 shares of AXA Equitable stock in a transaction that occurred on Thursday, June 27th. The shares were acquired at an average price of $20.34 per share, for a total transaction 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 hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of AXA Equitable by 64.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,416 shares of the company’s stock worth $123,000 after purchasing an additional 2,895 shares in the last quarter. California Public Employees Retirement System grew its position in shares of AXA Equitable by 16.1% during the fourth quarter. California Public Employees Retirement System now owns 94,837 shares of the company’s stock worth $1,577,000 after purchasing an additional 13,127 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of AXA Equitable by 30.2% during the fourth quarter. New York State Common Retirement Fund now owns 350,900 shares of the company’s stock worth $5,835,000 after purchasing an additional 81,300 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of AXA Equitable by 262.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,176,992 shares of the company’s stock worth $19,574,000 after purchasing an additional 852,358 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of AXA Equitable during the fourth quarter worth about $471,000. Hedge funds and other institutional investors own 50.90% of the company’s stock.

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.

Further Reading: Can individual investors take part in an IPO?

Get a free copy of the Zacks research report on AXA Equitable (EQH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for AXA Equitable (NYSE:EQH)

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.