United Services Automobile Association acquired a new stake in AXA Equitable Holdings Inc (NYSE:EQH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,035 shares of the company’s stock, valued at approximately $454,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $329,944,000. Canada Pension Plan Investment Board purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $288,540,000. Pzena Investment Management LLC purchased a new position in shares of AXA Equitable in the 2nd quarter valued at about $242,178,000. BlackRock Inc. purchased a new stake in shares of AXA Equitable in the second quarter valued at approximately $218,703,000. Finally, OppenheimerFunds Inc. purchased a new stake in shares of AXA Equitable in the second quarter valued at approximately $174,506,000. 28.74% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded AXA Equitable from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, October 16th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $28.00 price objective on shares of AXA Equitable in a research report on Friday, August 17th. Morgan Stanley cut their price target on shares of AXA Equitable from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, July 11th. Barclays cut their price target on shares of AXA Equitable from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, July 9th. Finally, Evercore ISI assumed coverage on shares of AXA Equitable in a report on Friday, June 29th. They issued an “outperform” rating and a $26.00 price target for the company. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.25.
AXA Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, August 14th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.07 billion. The company’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, equities research analysts predict that AXA Equitable Holdings Inc will post 3.56 earnings per share for the current fiscal year.
AXA Equitable Profile
AXA Equitable Holdings, Inc provides various financial services 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, which are primarily sold to affluent and high net worth individuals.
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