Equitable (NYSE:EQH) Price Target Raised to $65.00

Equitable (NYSE:EQH) had its price objective boosted by Truist Financial from $60.00 to $65.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the company. Mizuho reduced their price objective on Equitable from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Wolfe Research cut Equitable from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Raymond James Financial restated a “strong-buy” rating and issued a $65.00 target price on shares of Equitable in a research report on Friday, October 9th. Jefferies Financial Group lifted their target price on Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, UBS Group increased their price target on Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Equitable has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Equitable Stock Performance

Shares of EQH stock traded down $0.21 during trading hours on Wednesday, reaching $52.70. The stock had a trading volume of 2,283,877 shares, compared to its average volume of 2,571,833. The firm has a market capitalization of $14.39 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.53 and a beta of 1.06. The firm has a 50-day simple moving average of $53.17 and a 200-day simple moving average of $46.09. Equitable has a twelve month low of $35.19 and a twelve month high of $56.83. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.27. Equitable had a net margin of 11.53% and a return on equity of 636.12%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business posted $1.48 EPS. Equitable’s revenue was up 167.7% on a year-over-year basis. As a group, equities analysts forecast that Equitable will post 7.20 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO William Eckert, IV sold 947 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $52.88, for a total transaction of $50,077.36. Following the transaction, the chief accounting officer owned 8,419 shares in the company, valued at $445,196.72. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig MacKay sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $51.37, for a total transaction of $113,014.00. Following the transaction, the director owned 18,999 shares in the company, valued at $975,978.63. This represents a 10.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 23,850 shares of company stock valued at $1,270,055. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equitable

Several hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. acquired a new position in Equitable during the third quarter worth about $256,000. Russell Investments Group Ltd. boosted its position in shares of Equitable by 1.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 191,874 shares of the company’s stock valued at $9,840,000 after purchasing an additional 2,316 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Equitable by 8.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 15,951 shares of the company’s stock worth $818,000 after purchasing an additional 1,180 shares during the last quarter. Machina Capital S.A.S. grew its stake in shares of Equitable by 145.1% in the 3rd quarter. Machina Capital S.A.S. now owns 34,882 shares of the company’s stock worth $1,788,000 after purchasing an additional 20,648 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Equitable by 24.0% in the 3rd quarter. Lido Advisors LLC now owns 10,380 shares of the company’s stock worth $532,000 after purchasing an additional 2,012 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.

Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.