Truist Financial Raises Equitable (NYSE:EQH) Price Target to $60.00

Equitable (NYSE:EQH) had its target price increased by analysts at Truist Financial from $52.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 11.59% from the company’s previous close.

EQH has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on shares of Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a “hold” rating to a “buy” rating and increased their target price for the stock from $47.00 to $58.00 in a research report on Friday, January 10th. BMO Capital Markets assumed coverage on Equitable in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $70.00 price target for the company. Keefe, Bruyette & Woods raised Equitable from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $54.00 to $58.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company reduced their target price on Equitable from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equitable has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Equitable Price Performance

EQH opened at $53.77 on Monday. The stock has a fifty day moving average price of $49.76 and a 200 day moving average price of $45.59. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. Equitable has a 1 year low of $32.72 and a 1 year high of $54.82. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 14.08 and a beta of 1.39.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (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 7.24 EPS for the current fiscal year.

Insider Buying and Selling at Equitable

In related news, insider Nick Lane sold 25,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the transaction, the insider now directly owns 141,629 shares in the company, valued at approximately $6,492,273.36. This represents a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction on Monday, December 16th. The stock was sold at an average price of $47.31, for a total transaction of $315,368.46. Following the sale, the chief operating officer now owns 98,875 shares in the company, valued at $4,677,776.25. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,032 shares of company stock valued at $7,587,971 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

A number of hedge funds and other institutional investors have recently made changes to their positions in EQH. MQS Management LLC bought a new stake in Equitable in the third quarter valued at about $587,000. JPMorgan Chase & Co. grew its stake in shares of Equitable by 20.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company’s stock valued at $38,191,000 after purchasing an additional 153,457 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of Equitable during the 4th quarter worth approximately $295,000. Principal Financial Group Inc. boosted its stake in Equitable by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock valued at $89,001,000 after buying an additional 148,180 shares in the last quarter. Finally, Qsemble Capital Management LP raised its stake in Equitable by 902.4% during the third quarter. Qsemble Capital Management LP now owns 78,456 shares of the company’s stock worth $3,298,000 after acquiring an additional 70,629 shares in the last quarter. 92.70% of the stock is owned by 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.