Wells Fargo & Company MN trimmed its position in AXA Equitable Holdings Inc (NYSE:EQH) by 59.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,758 shares of the company’s stock after selling 296,014 shares during the period. Wells Fargo & Company MN’s holdings in AXA Equitable were worth $4,279,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of EQH. BlackRock Inc. grew its stake in AXA Equitable by 40.4% in the first 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 period. First Trust Advisors LP grew its stake in 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 purchasing an additional 2,200,584 shares during the period. Pzena Investment Management LLC grew its stake in AXA Equitable by 8.7% in the second quarter. Pzena Investment Management LLC now owns 17,286,040 shares of the company’s stock worth $361,278,000 after purchasing an additional 1,386,458 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in 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 purchasing an additional 1,156,522 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in 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 in the last quarter. 58.26% of the stock is currently owned by institutional investors.
In other news, insider Mark Pearson bought 49,000 shares of the stock in a transaction on Thursday, June 27th. The shares were bought at an average price of $20.34 per share, with a total value of $996,660.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Axa sold 6,000,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $20.85, for a total value of $125,100,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
AXA Equitable (NYSE:EQH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.11. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.22 billion. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 earnings per share. Equities research analysts anticipate that AXA Equitable Holdings Inc will post 4.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, August 21st. AXA Equitable’s payout ratio is currently 15.42%.
EQH has been the topic of several analyst reports. ValuEngine downgraded AXA Equitable from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised AXA Equitable from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, August 14th. Wells Fargo & Co reissued a “hold” rating and issued a $22.00 target price on shares of AXA Equitable in a report on Thursday, August 8th. Morgan Stanley dropped their target price on AXA Equitable from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Finally, Royal Bank of Canada set a $26.00 target price on AXA Equitable and gave the stock a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $23.88.
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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