Equitable (NYSE:EQH) Stock Gets Price Target Increase from Wells Fargo & Company

Equitable (NYSE:EQH) had its price objective raised by stock analysts at Wells Fargo & Company from $65.00 to $67.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 19.90% from the company’s previous close.

EQH has been the topic of several other research reports. Evercore restated an “outperform” rating and set a $66.00 price objective on shares of Equitable in a report on Thursday, August 20th. Mizuho reduced their price objective on shares of Equitable from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Raymond James Financial reissued a “strong-buy” rating and set a $65.00 target price on shares of Equitable in a research report on Friday, October 9th. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Truist Financial upped their target price on shares of Equitable from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Equitable Price Performance

Shares of EQH opened at $55.88 on Thursday. Equitable has a 12-month low of $35.19 and a 12-month high of $56.83. The business’s fifty day moving average is $53.52 and its 200 day moving average is $46.24. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The stock has a market cap of $14.90 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.54 and a beta of 1.06.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.27. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.75 billion. Equitable had a net margin of 11.53% and a negative return on equity of 3,089.96%. Equitable’s revenue was up 167.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Sell-side analysts anticipate that Equitable will post 7.20 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Equitable news, insider Nick Lane sold 14,923 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $53.24, for a total value of $794,500.52. Following the completion of the transaction, the insider owned 110,007 shares in the company, valued at $5,856,772.68. This trade represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arlene Isaacs-Lowe sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $52.83, for a total transaction of $52,830.00. Following the completion of the transaction, the director owned 19,763 shares of the company’s stock, valued at $1,044,079.29. This trade represents a 4.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,703 shares of company stock valued at $1,106,964 over the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Wealth Asset Management LLC purchased a new position in Equitable in the 3rd quarter worth $333,000. Ieq Capital LLC purchased a new stake in Equitable during the third quarter valued at about $4,880,000. Focus Advisor Solutions LLC purchased a new stake in Equitable during the third quarter valued at about $744,000. Independent Advisor Alliance purchased a new stake in Equitable during the third quarter valued at about $220,000. Finally, Global Retirement Partners LLC grew its stake in shares of Equitable by 485.0% during the third quarter. Global Retirement Partners LLC now owns 9,167 shares of the company’s stock valued at $470,000 after buying an additional 7,600 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Company Profile

Equitable Holdings, Inc. is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions. The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable’s insurance and retirement businesses primarily serve customers in the United States.