Brokerages Set Equitable Holdings, Inc. (NYSE:EQH) Price Target at $60.64

Equitable Holdings, Inc. (NYSE:EQHGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $59.5455.

A number of equities analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Equitable from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Keefe, Bruyette & Woods initiated coverage on shares of Equitable in a report on Thursday. They set an “outperform” rating and a $53.00 price target for the company. Raymond James Financial set a $60.00 price objective on shares of Equitable in a research report on Monday, January 5th. Barclays decreased their price objective on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Finally, Morgan Stanley dropped their price objective on Equitable from $59.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd.

Get Our Latest Analysis on EQH

Key Headlines Impacting Equitable

Here are the key news stories impacting Equitable this week:

Insider Activity

In other news, CEO Mark Pearson sold 39,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $46.20, for a total transaction of $1,834,140.00. Following the transaction, the chief executive officer directly owned 652,945 shares in the company, valued at approximately $30,166,059. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nick Lane sold 30,000 shares of Equitable stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the completion of the transaction, the insider directly owned 99,958 shares in the company, valued at $4,762,998.70. The trade was a 23.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 76,490 shares of company stock valued at $3,587,184. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EQH. Johnson Financial Group Inc. purchased a new position in shares of Equitable during the 3rd quarter worth approximately $26,000. Covestor Ltd raised its position in Equitable by 124.7% in the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock worth $35,000 after acquiring an additional 404 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Equitable in the third quarter valued at $36,000. Hilltop National Bank acquired a new stake in Equitable in the third quarter valued at $37,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Equitable during the 3rd quarter worth $38,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Trading Up 0.9%

EQH opened at $38.53 on Tuesday. The business has a fifty day moving average price of $42.33 and a 200 day moving average price of $46.36. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.13 and a quick ratio of 0.13. Equitable has a 12 month low of $36.58 and a 12 month high of $56.61. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of -7.99, a PEG ratio of 0.34 and a beta of 1.12.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, March 4th. Equitable’s payout ratio is presently -22.41%.

Equitable announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Equitable Company Profile

(Get Free Report)

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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Analyst Recommendations for Equitable (NYSE:EQH)

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