AXA Equitable Holdings Inc (EQH) Stake Boosted by Legal & General Group Plc

Legal & General Group Plc increased its holdings in AXA Equitable Holdings Inc (NYSE:EQH) by 45.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,756 shares of the company’s stock after acquiring an additional 57,956 shares during the period. Legal & General Group Plc’s holdings in AXA Equitable were worth $4,005,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EQH. Quantbot Technologies LP bought a new position in AXA Equitable during the third quarter valued at $131,000. Jane Street Group LLC bought a new position in AXA Equitable during the third quarter valued at $225,000. People s United Financial Inc. bought a new position in AXA Equitable during the third quarter valued at $251,000. Cadence Capital Management LLC bought a new position in AXA Equitable during the third quarter valued at $272,000. Finally, United Services Automobile Association bought a new position in AXA Equitable during the second quarter valued at $454,000. 28.11% of the stock is owned by institutional investors.

Several brokerages have weighed in on EQH. Zacks Investment Research raised AXA Equitable from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. ValuEngine raised AXA Equitable from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Wells Fargo & Co began coverage on AXA Equitable in a report on Tuesday, January 8th. They set a “market perform” rating and a $20.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.62.

In other AXA Equitable news, major shareholder Axa sold 60,000,000 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $1,184,400,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

NYSE:EQH opened at $18.63 on Wednesday. AXA Equitable Holdings Inc has a 1 year low of $14.72 and a 1 year high of $23.21.

AXA Equitable (NYSE:EQH) last posted its earnings results on Tuesday, November 13th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.32. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Sell-side analysts predict that AXA Equitable Holdings Inc will post 3.87 earnings per share for the current year.

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AXA Equitable Company 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.

Further Reading: Coverage Ratio

Institutional Ownership by Quarter for AXA Equitable (NYSE:EQH)

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