FIL Ltd bought a new stake in AXA Equitable Holdings Inc (NYSE:EQH) during the 1st quarter, Holdings Channel reports. The institutional investor bought 782,093 shares of the company’s stock, valued at approximately $15,751,000.
Several other large investors have also recently modified their holdings of EQH. CENTRAL TRUST Co acquired a new stake in shares of AXA Equitable in the 1st quarter valued at $42,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of AXA Equitable in the 4th quarter valued at $44,000. American International Group Inc. boosted its stake in shares of AXA Equitable by 44.6% in the 4th quarter. American International Group Inc. now owns 3,610 shares of the company’s stock valued at $60,000 after purchasing an additional 1,114 shares in the last quarter. Strs Ohio acquired a new stake in shares of AXA Equitable in the 1st quarter valued at $61,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in AXA Equitable by 44.9% during 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. Institutional investors own 50.92% of the company’s stock.
In other news, major shareholder Axa sold 40,000,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $20.85, for a total value of $834,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.
AXA Equitable (NYSE:EQH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $3.15 billion. On average, sell-side analysts predict that AXA Equitable Holdings Inc will post 4.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, June 3rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from AXA Equitable’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.81%. AXA Equitable’s dividend payout ratio is 15.42%.
Several brokerages recently issued reports on EQH. Zacks Investment Research upgraded shares of AXA Equitable from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, May 17th. Citigroup upped their price target on shares of AXA Equitable from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Credit Suisse Group reduced their price target on shares of AXA Equitable from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Barclays upped their price target on shares of AXA Equitable from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $20.00 price target on shares of AXA Equitable in a research report on Thursday, February 28th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. AXA Equitable currently has a consensus rating of “Hold” and an average price target of $23.50.
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AXA Equitable 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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