AXA Equitable (NYSE:EQH) has been assigned a $26.00 price objective by stock analysts at Royal Bank of Canada in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 27.39% from the stock’s previous close.
A number of other analysts have also recently weighed in on EQH. Wells Fargo & Co reiterated a “hold” rating and set a $22.00 price target on shares of AXA Equitable in a research note on Thursday. Citigroup raised their target price on shares of AXA Equitable from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Zacks Investment Research upgraded shares of AXA Equitable from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, July 23rd. ValuEngine cut shares of AXA Equitable from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Evercore ISI set a $28.00 target price on shares of AXA Equitable and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. AXA Equitable presently has an average rating of “Hold” and an average target price of $24.25.
Shares of NYSE:EQH traded down $0.59 during trading hours on Friday, reaching $20.41. The stock had a trading volume of 2,133,100 shares, compared to its average volume of 3,207,192. AXA Equitable has a 1 year low of $14.72 and a 1 year high of $23.21. The business’s 50 day moving average is $21.58. The stock has a market cap of $10.27 billion, a PE ratio of 5.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33.
In other AXA Equitable news, major shareholder Axa sold 40,000,000 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Pearson bought 49,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were acquired at an average price of $20.34 per share, with a total value of $996,660.00. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.
A number of large investors have recently bought and sold shares of EQH. BlackRock Inc. boosted its stake in shares of AXA Equitable by 40.4% during the 1st quarter. BlackRock Inc. now owns 26,272,619 shares of the company’s stock worth $529,130,000 after purchasing an additional 7,558,072 shares during the last quarter. First Trust Advisors LP boosted its position in shares of AXA Equitable by 302.1% in the second quarter. First Trust Advisors LP now owns 2,928,909 shares of the company’s stock worth $61,214,000 after acquiring an additional 2,200,584 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of AXA Equitable by 11.2% in the first quarter. Pzena Investment Management LLC now owns 15,899,582 shares of the company’s stock worth $320,218,000 after acquiring an additional 1,607,184 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of AXA Equitable by 2,148.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,210,360 shares of the company’s stock worth $24,376,000 after acquiring an additional 1,156,522 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of AXA Equitable by 750.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,089,688 shares of the company’s stock worth $22,774,000 after acquiring an additional 961,589 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.
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.
Further Reading: Hedge Funds Explained
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