Equitable (NYSE:EQH) Price Target Raised to $47.00

Equitable (NYSE:EQH) had its price objective lifted by Wells Fargo & Company from $43.00 to $47.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

EQH has been the topic of several other research reports. Keefe, Bruyette & Woods upped their price target on Equitable from $43.00 to $44.00 and gave the company a market perform rating in a report on Monday, July 8th. Truist Financial boosted their target price on Equitable from $44.00 to $52.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the company an overweight rating in a research report on Tuesday, October 8th. Morgan Stanley cut their price objective on Equitable from $48.00 to $46.00 and set an overweight rating on the stock in a report on Monday, August 19th. Finally, Citigroup raised their target price on shares of Equitable from $41.00 to $53.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $48.70.

Equitable Stock Up 2.0 %

EQH stock opened at $43.91 on Thursday. Equitable has a 52 week low of $24.65 and a 52 week high of $44.50. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 13.59 and a beta of 1.41. The firm’s 50-day moving average is $40.93 and its two-hundred day moving average is $40.27.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the company earned $1.17 EPS. Equitable’s revenue was up 47.7% on a year-over-year basis. On average, analysts forecast that Equitable will post 6.03 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.24 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a yield of 2.19%. Equitable’s payout ratio is 29.72%.

Insider Activity

In related news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the sale, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the transaction, the chief executive officer now owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the sale, the chief accounting officer now directly owns 19,321 shares of the company’s stock, valued at $819,596.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,500 shares of company stock worth $2,637,870 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

Institutional investors and hedge funds have recently modified their holdings of the business. &PARTNERS raised its holdings in Equitable by 0.7% during the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock valued at $1,403,000 after buying an additional 254 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Equitable by 4.8% during the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock valued at $233,000 after acquiring an additional 280 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after acquiring an additional 405 shares in the last quarter. US Bancorp DE lifted its holdings in Equitable by 4.4% in the 1st quarter. US Bancorp DE now owns 10,068 shares of the company’s stock worth $383,000 after purchasing an additional 423 shares during the last quarter. Finally, Capital Insight Partners LLC boosted its position in Equitable by 2.6% during the second quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock worth $720,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.