AXA Equitable (NYSE:EQH) Cut to “Strong Sell” at ValuEngine

ValuEngine cut shares of AXA Equitable (NYSE:EQH) from a sell rating to a strong sell rating in a research note published on Tuesday, ValuEngine reports.

A number of other research analysts have also weighed in on EQH. Evercore ISI set a $28.00 price objective on AXA Equitable and gave the company a buy rating in a research report on Friday, August 9th. Royal Bank of Canada set a $26.00 target price on AXA Equitable and gave the stock a buy rating in a report on Friday, August 9th. Zacks Investment Research raised AXA Equitable from a hold rating to a strong-buy rating and set a $27.00 target price on the stock in a report on Monday, November 11th. Wells Fargo & Co reissued a hold rating and issued a $23.00 target price on shares of AXA Equitable in a research note on Monday, November 11th. Finally, Morgan Stanley reduced their price target on AXA Equitable from $28.00 to $27.00 and set an overweight rating for the company in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. AXA Equitable presently has a consensus rating of Hold and a consensus target price of $24.50.

Shares of NYSE EQH traded up $0.42 on Tuesday, reaching $24.75. 196,482 shares of the company’s stock traded hands, compared to its average volume of 3,479,081. AXA Equitable has a 12 month low of $14.72 and a 12 month high of $25.17. The business’s 50 day simple moving average is $23.14 and its two-hundred day simple moving average is $21.76. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 0.73 and a beta of 1.43.

AXA Equitable (NYSE:EQH) last released its earnings results on Wednesday, November 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. AXA Equitable’s revenue for the quarter was up 179.6% on a year-over-year basis. Analysts expect that AXA Equitable will post 4.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.15 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.42%. AXA Equitable’s dividend payout ratio is presently 15.42%.

In other news, major shareholder Axa sold 144,000,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $21.80, for a total transaction of $3,139,200,000.00. Following the sale, the insider now owns 47,162,500 shares in the company, valued at $1,028,142,500. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Several hedge funds have recently bought and sold shares of EQH. Catalyst Capital Advisors LLC boosted its position in shares of AXA Equitable by 55.1% during the third quarter. Catalyst Capital Advisors LLC now owns 1,334 shares of the company’s stock valued at $30,000 after buying an additional 474 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of AXA Equitable by 38.4% during the second quarter. Advisor Group Inc. now owns 2,104 shares of the company’s stock valued at $44,000 after purchasing an additional 584 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of AXA Equitable by 18.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 5,765 shares of the company’s stock valued at $116,000 after purchasing an additional 898 shares during the period. Signaturefd LLC lifted its holdings in shares of AXA Equitable by 118.2% in the 2nd quarter. Signaturefd LLC now owns 6,501 shares of the company’s stock valued at $136,000 after acquiring an additional 3,521 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of AXA Equitable by 1,837.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 8,990 shares of the company’s stock worth $188,000 after buying an additional 8,526 shares in the last quarter. Hedge funds and other institutional investors own 63.02% 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.

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Analyst Recommendations for AXA Equitable (NYSE:EQH)

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