AXA Equitable (NYSE:EQH) Stock Price Down 6%

Shares of AXA Equitable Holdings Inc (NYSE:EQH) dropped 6% during mid-day trading on Thursday . The stock traded as low as $21.02 and last traded at $21.12, approximately 2,696,954 shares changed hands during trading. A decline of 17% from the average daily volume of 3,251,710 shares. The stock had previously closed at $22.48.

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. Zacks Investment Research upgraded AXA Equitable from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, July 23rd. Finally, Citigroup lifted their price objective on AXA Equitable from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

The stock has a market cap of $11.04 billion, a P/E ratio of 5.32, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a 50-day moving average of $21.67.

AXA Equitable (NYSE:EQH) last issued its earnings results on Thursday, May 9th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $3.15 billion. Analysts expect that AXA Equitable Holdings Inc will post 4.16 earnings per share for the current fiscal year.

In other news, insider Mark Pearson bought 49,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was bought at an average price of $20.34 per share, for a total transaction of $996,660.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Axa sold 40,000,000 shares of AXA Equitable stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.85, for a total value of $834,000,000.00. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC grew its position in shares of AXA Equitable by 77.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,242 shares of the company’s stock worth $26,000 after acquiring an additional 544 shares in the last quarter. CENTRAL TRUST Co acquired a new position in AXA Equitable during the 1st quarter valued at approximately $42,000. Advisor Group Inc. boosted its position in AXA Equitable by 38.4% during the 2nd quarter. Advisor Group Inc. now owns 2,104 shares of the company’s stock valued at $44,000 after purchasing an additional 584 shares during the period. American International Group Inc. boosted its position in AXA Equitable by 44.6% during 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 during the period. Finally, Strs Ohio acquired a new position in AXA Equitable during the 1st quarter valued at approximately $61,000. Institutional investors own 50.94% of the company’s stock.

AXA Equitable Company Profile (NYSE:EQH)

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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