AXA Equitable (NYSE:EQH) Price Target Cut to $27.00

AXA Equitable (NYSE:EQH) had its price target reduced by equities researchers at Morgan Stanley from $28.00 to $27.00 in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 32.42% from the stock’s previous close.

Several other brokerages have also recently issued reports on EQH. Wells Fargo & Co reissued a “hold” rating and issued a $22.00 price objective on shares of AXA Equitable in a research note on Thursday, August 8th. Zacks Investment Research raised shares of AXA Equitable from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, August 14th. Evercore ISI set a $28.00 price objective on shares of AXA Equitable and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada set a $26.00 price objective on shares of AXA Equitable and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, ValuEngine cut shares of AXA Equitable from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.88.

Shares of EQH opened at $20.39 on Tuesday. The stock has a market capitalization of $9.94 billion, a P/E ratio of 5.24, a P/E/G ratio of 0.62 and a beta of 1.33. The company’s fifty day moving average is $21.54 and its two-hundred day moving average is $20.98. AXA Equitable has a 1 year low of $14.72 and a 1 year high of $23.21.

AXA Equitable (NYSE:EQH) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.11. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that AXA Equitable will post 4.25 EPS for the current fiscal year.

In other news, major shareholder Axa sold 6,000,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $20.85, for a total transaction of $125,100,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Pearson purchased 49,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were bought at an average cost of $20.34 per share, for a total transaction of $996,660.00. The disclosure for this purchase can be found here. Corporate insiders own 0.16% of the company’s stock.

Large investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its position in shares of AXA Equitable by 77.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,242 shares of the company’s stock worth $26,000 after buying an additional 544 shares in the last quarter. CENTRAL TRUST Co purchased a new stake in shares of AXA Equitable in the 1st quarter worth about $42,000. Advisor Group Inc. boosted its position in shares of AXA Equitable by 38.4% in the 2nd quarter. Advisor Group Inc. now owns 2,104 shares of the company’s stock worth $44,000 after buying an additional 584 shares in the last quarter. Strs Ohio purchased a new stake in shares of AXA Equitable in the 1st quarter worth about $61,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of AXA Equitable by 44.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,867 shares of the company’s stock worth $81,000 after buying an additional 1,507 shares in the last quarter. 53.65% of the stock is currently owned by institutional investors and hedge funds.

AXA Equitable Company Profile

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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