Tyers Asset Management LLC grew its holdings in AXA Equitable Holdings Inc (NYSE:EQH) by 3.4% during the first quarter, HoldingsChannel reports. The firm owned 70,848 shares of the company’s stock after acquiring an additional 2,320 shares during the period. Tyers Asset Management LLC’s holdings in AXA Equitable were worth $1,427,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in AXA Equitable by 40.4% in 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 in the last quarter. Norges Bank purchased a new position in AXA Equitable in the 4th quarter worth approximately $357,696,000. Canada Pension Plan Investment Board lifted its stake in AXA Equitable by 41.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 16,555,432 shares of the company’s stock worth $275,294,000 after purchasing an additional 4,868,432 shares in the last quarter. Pzena Investment Management LLC lifted its stake in AXA Equitable by 11.2% in the 1st quarter. Pzena Investment Management LLC now owns 15,899,582 shares of the company’s stock worth $320,218,000 after purchasing an additional 1,607,184 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its stake in AXA Equitable by 18.8% in the 4th quarter. Thornburg Investment Management Inc. now owns 11,459,384 shares of the company’s stock worth $190,570,000 after purchasing an additional 1,812,607 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Axa sold 40,000,000 shares of AXA Equitable stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $20.85, for a total value of $834,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.
AXA Equitable (NYSE:EQH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $3.15 billion. As a group, equities research analysts forecast that AXA Equitable Holdings Inc will post 4.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.84%. This is an increase from AXA Equitable’s previous quarterly dividend of $0.13. AXA Equitable’s dividend payout ratio (DPR) is currently 15.42%.
A number of brokerages have 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 for the company in a report on Friday, May 17th. Citigroup raised their price target on shares of AXA Equitable from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Credit Suisse Group cut their price target on shares of AXA Equitable from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Barclays raised their price target on shares of AXA Equitable from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, April 1st. Finally, Wells Fargo & Co restated a “hold” rating and set a $20.00 price target on shares of AXA Equitable in a report on Thursday, February 28th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. AXA Equitable presently has an average rating of “Hold” and a consensus price target of $23.50.
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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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