Barclays Boosts Equitable (NYSE:EQH) Price Target to $61.00

Equitable (NYSE:EQH) had its price objective raised by investment analysts at Barclays from $60.00 to $61.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 24.03% from the company’s previous close.

A number of other analysts have also recently commented on EQH. Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and upped their target price for the company from $54.00 to $58.00 in a report on Monday, December 9th. Wells Fargo & Company raised their target price on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Equitable Price Performance

Shares of EQH opened at $49.18 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable has a 1-year low of $31.76 and a 1-year high of $50.51. The firm has a market cap of $15.41 billion, a PE ratio of -45.12 and a beta of 1.39. The firm has a fifty day simple moving average of $47.30 and a two-hundred day simple moving average of $43.71.

Equitable (NYSE:EQH) last announced its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.53. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. On average, equities analysts anticipate that Equitable will post 6.05 EPS for the current year.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total value of $1,332,000.00. Following the sale, the chief executive officer now directly owns 658,555 shares in the company, valued at approximately $29,239,842. The trade was a 4.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total transaction of $316,834.98. Following the transaction, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,032 shares of company stock valued at $6,031,759. 1.10% of the stock is owned by company insiders.

Institutional Trading of Equitable

A number of large investors have recently added to or reduced their stakes in EQH. State Street Corp boosted its position in shares of Equitable by 2.7% during the 3rd quarter. State Street Corp now owns 12,976,870 shares of the company’s stock valued at $545,418,000 after acquiring an additional 338,205 shares during the last quarter. Wellington Management Group LLP lifted its position in Equitable by 3.0% during the third quarter. Wellington Management Group LLP now owns 5,513,571 shares of the company’s stock valued at $231,735,000 after purchasing an additional 161,376 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Equitable by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock worth $166,855,000 after buying an additional 539,904 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Equitable during the 2nd quarter valued at about $110,176,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equitable by 2.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,220,356 shares of the company’s stock valued at $93,322,000 after acquiring an additional 54,380 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

About Equitable

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.