Equitable (NYSE:EQH – Get Rating) had its target price reduced by equities research analysts at Truist Financial from $42.00 to $38.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s price objective suggests a potential upside of 32.04% from the company’s current price.
A number of other research analysts also recently commented on the stock. Evercore ISI cut their target price on shares of Equitable from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. Morgan Stanley raised their price objective on Equitable from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. Barclays boosted their target price on shares of Equitable from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 18th. Wells Fargo & Company reduced their price objective on shares of Equitable from $41.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Equitable from $36.00 to $34.00 in a research note on Monday, July 11th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Equitable has an average rating of “Buy” and an average target price of $40.89.
Equitable Trading Up 2.2 %
Shares of NYSE EQH opened at $28.78 on Wednesday. Equitable has a 12-month low of $24.61 and a 12-month high of $37.13. The firm’s 50-day moving average price is $29.24 and its 200-day moving average price is $28.63. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 3.58 and a beta of 1.41.
Equitable (NYSE:EQH – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.31. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities analysts predict that Equitable will post 5.25 EPS for the current fiscal year.
Insider Transactions at Equitable
In related news, CEO Mark Pearson sold 60,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $30.02, for a total value of $1,801,200.00. Following the transaction, the chief executive officer now owns 463,780 shares in the company, valued at approximately $13,922,675.60. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mark Pearson sold 60,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $30.02, for a total value of $1,801,200.00. Following the sale, the chief executive officer now directly owns 463,780 shares of the company’s stock, valued at approximately $13,922,675.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bertram L. Scott sold 7,300 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $29.87, for a total transaction of $218,051.00. Following the transaction, the director now directly owns 21,429 shares of the company’s stock, valued at approximately $640,084.23. The disclosure for this sale can be found here. Insiders sold a total of 190,472 shares of company stock worth $5,738,065 over the last three months. 0.98% of the stock is currently owned by insiders.
Institutional Trading of Equitable
A number of hedge funds have recently modified their holdings of EQH. American International Group Inc. grew its stake in Equitable by 9.3% in the 2nd quarter. American International Group Inc. now owns 4,007 shares of the company’s stock valued at $104,000 after acquiring an additional 342 shares during the period. Arizona State Retirement System increased its stake in shares of Equitable by 0.4% during the first quarter. Arizona State Retirement System now owns 101,403 shares of the company’s stock worth $3,134,000 after purchasing an additional 368 shares in the last quarter. Ethic Inc. raised its position in shares of Equitable by 3.9% during the 1st quarter. Ethic Inc. now owns 10,458 shares of the company’s stock worth $323,000 after purchasing an additional 396 shares during the last quarter. US Bancorp DE lifted its stake in Equitable by 4.2% in the 2nd quarter. US Bancorp DE now owns 10,730 shares of the company’s stock valued at $279,000 after buying an additional 437 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Equitable by 32.2% in the 1st quarter. Quent Capital LLC now owns 2,399 shares of the company’s stock worth $74,000 after buying an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 91.87% 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 four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.