AXA Equitable (NYSE:EQH) PT Set at $26.00 by Royal Bank of Canada

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.

AXA Equitable (NYSE:EQH) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.11. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, research analysts predict that AXA Equitable will post 4.18 EPS for the current year.

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

Analyst Recommendations for AXA Equitable (NYSE:EQH)

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