Wells Fargo & Company Lowers Equitable (NYSE:EQH) Price Target to $59.00

Equitable (NYSE:EQH) had its target price reduced by Wells Fargo & Company from $62.00 to $59.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also commented on EQH. Truist Financial boosted their price target on shares of Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. BMO Capital Markets increased their price target on Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. UBS Group raised Equitable from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $77.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, Barclays upped their price objective on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Equitable has an average rating of “Moderate Buy” and a consensus target price of $60.91.

Equitable Trading Up 1.4 %

EQH opened at $46.44 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The stock’s fifty day moving average is $51.77 and its two-hundred day moving average is $48.94. The company has a market capitalization of $14.25 billion, a P/E ratio of 12.16 and a beta of 1.23. Equitable has a 52 week low of $35.49 and a 52 week high of $56.00.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Analysts forecast that Equitable will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 5th. Equitable’s dividend payout ratio (DPR) is currently 25.13%.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total transaction of $369,163.08. Following the sale, the chief operating officer now owns 104,298 shares of the company’s stock, valued at approximately $5,776,023.24. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nick Lane sold 5,000 shares of Equitable stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.12, for a total transaction of $255,600.00. Following the completion of the transaction, the insider now owns 139,073 shares of the company’s stock, valued at $7,109,411.76. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,332 shares of company stock valued at $5,364,610 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock valued at $25,000 after acquiring an additional 352 shares in the last quarter. Bessemer Group Inc. increased its holdings in Equitable by 111.2% during the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company’s stock worth $32,000 after purchasing an additional 357 shares during the period. Assetmark Inc. increased its holdings in Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after purchasing an additional 199 shares during the period. Mizuho Bank Ltd. boosted its stake in shares of Equitable by 61.4% in the 4th quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company’s stock valued at $53,000 after buying an additional 430 shares during the period. Finally, McIlrath & Eck LLC boosted its stake in shares of Equitable by 154.3% in the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company’s stock valued at $65,000 after buying an additional 841 shares during the period. Hedge funds and other 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.