Equitable (NYSE:EQH) Price Target Raised to $60.00

Equitable (NYSE:EQH) had its target price increased by Truist Financial from $52.00 to $60.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Equitable from a “hold” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $58.00 in a research note on Friday, January 10th. BMO Capital Markets assumed coverage on Equitable in a research note on Thursday, January 23rd. They set an “outperform” rating and a $70.00 price target for the company. Wells Fargo & Company cut their price target on Equitable from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Barclays raised their price target on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised Equitable from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $54.00 to $58.00 in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.67.

Equitable Stock Down 0.1 %

Shares of Equitable stock opened at $53.66 on Monday. The stock has a 50-day moving average price of $49.88 and a 200 day moving average price of $45.64. The company has a market cap of $16.81 billion, a P/E ratio of 14.05 and a beta of 1.39. 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.

Equitable (NYSE:EQH) last announced its quarterly earnings data 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 return on equity of 85.70% and a net margin of 10.51%. As a group, analysts expect that Equitable will post 7.24 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, November 26th. Equitable’s payout ratio is 25.13%.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $47.43, for a total value of $1,422,900.00. Following the sale, the chief executive officer now owns 648,555 shares of the company’s stock, valued at $30,760,963.65. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO William James Iv Eckert sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the sale, the chief accounting officer now directly owns 17,677 shares in the company, valued at $825,162.36. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,032 shares of company stock valued at $7,587,971. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Equitable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in Equitable by 33.2% in the 4th quarter. Assetmark Inc. now owns 799 shares of the company’s stock valued at $38,000 after buying an additional 199 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in Equitable by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 6,577 shares of the company’s stock valued at $310,000 after buying an additional 209 shares during the last quarter. Covestor Ltd grew its holdings in Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 246 shares during the last quarter. Truist Financial Corp grew its holdings in Equitable by 2.8% in the 4th quarter. Truist Financial Corp now owns 9,554 shares of the company’s stock valued at $451,000 after buying an additional 257 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Equitable by 10.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company’s stock valued at $131,000 after buying an additional 266 shares during the last quarter. Institutional investors and hedge funds own 92.70% 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 six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.