Equitable (NYSE:EQH) Price Target Raised to $61.00

Equitable (NYSE:EQH) had its price objective increased by equities research 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 target indicates a potential upside of 22.05% from the stock’s current price.

EQH has been the subject of several other research reports. Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $54.00 to $58.00 in a research report on Monday, December 9th. Wells Fargo & Company raised their price target on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.20.

Equitable Trading Up 2.9 %

EQH stock traded up $1.43 during midday trading on Monday, hitting $49.98. The stock had a trading volume of 753,200 shares, compared to its average volume of 1,853,502. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. The firm has a market cap of $15.66 billion, a P/E ratio of -45.85 and a beta of 1.39. The business has a fifty day moving average price of $47.16 and a two-hundred day moving average price of $43.59. Equitable has a 1-year low of $31.76 and a 1-year high of $50.51.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $1.15 EPS. The firm’s revenue was down 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Equitable will post 6.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 658,555 shares of the company’s stock, valued at approximately $29,239,842. The trade was a 4.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.68, for a total transaction of $79,356.00. Following the transaction, the chief accounting officer now owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,032 shares of company stock worth $6,031,759. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurich Insurance Group Ltd FI purchased a new stake in Equitable during the second quarter valued at about $110,176,000. Samlyn Capital LLC purchased a new stake in shares of Equitable during the 2nd quarter valued at approximately $63,334,000. Nordea Investment Management AB boosted its holdings in Equitable by 700.3% in the 4th quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company’s stock worth $74,126,000 after buying an additional 1,367,837 shares during the period. Federated Hermes Inc. grew its stake in Equitable by 1,095.9% in the 2nd quarter. Federated Hermes Inc. now owns 600,662 shares of the company’s stock valued at $24,543,000 after buying an additional 550,436 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Equitable by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock valued at $166,855,000 after acquiring an additional 539,904 shares during the period. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

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.