Equitable (NYSE:EQH) PT Raised to $60.00

Equitable (NYSE:EQH) had its target price hoisted by Barclays from $59.00 to $60.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently issued reports on EQH. Wells Fargo & Company cut their price target on Equitable from $45.00 to $43.00 and set an overweight rating for the company in a research note on Monday, August 12th. Jefferies Financial Group lifted their target price on Equitable from $46.00 to $51.00 and gave the company a buy rating in a research report on Friday, June 28th. Truist Financial increased their price target on Equitable from $44.00 to $52.00 and gave the company a buy rating in a research report on Thursday, August 1st. UBS Group downgraded shares of Equitable from a buy rating to a neutral rating and lifted their price objective for the stock from $40.00 to $43.00 in a report on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Equitable from $43.00 to $44.00 and gave the stock a market perform rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Equitable has a consensus rating of Moderate Buy and an average target price of $48.70.

Equitable Price Performance

Shares of EQH opened at $43.06 on Tuesday. The business’s fifty day moving average is $40.83 and its 200 day moving average is $40.19. Equitable has a 12-month low of $24.65 and a 12-month high of $44.50. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. The stock has a market cap of $14.01 billion, a P/E ratio of 13.33 and a beta of 1.41.

Equitable (NYSE:EQH) last released its quarterly earnings data 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. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Sell-side analysts anticipate that Equitable will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s payout ratio is 29.72%.

Insider Activity at Equitable

In related news, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were 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 in the company, 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 filing with the SEC, which is accessible through this link. In other news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was 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 $28,635,021. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,469 shares of company stock worth $3,067,434. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equitable

Several institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new position in shares of Equitable in the first quarter worth about $28,000. LRI Investments LLC bought a new position in Equitable in the 1st quarter worth approximately $45,000. Rise Advisors LLC grew its stake in Equitable by 1,421.4% in the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares in the last quarter. UMB Bank n.a. raised its holdings in Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after acquiring an additional 718 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after acquiring an additional 405 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

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.