Equitable (NYSE:EQH) Announces Earnings Results, Hits Expectations

Equitable (NYSE:EQH) issued its quarterly earnings data on Monday. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53, Zacks reports. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year.

Equitable Trading Down 1.1 %

EQH opened at $44.49 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. Equitable has a twelve month low of $25.88 and a twelve month high of $46.48. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of -40.82 and a beta of 1.40. The company has a 50-day simple moving average of $42.86 and a 200 day simple moving average of $41.26.

Insider Buying and Selling at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares in the company, valued at $28,635,021. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the sale, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,500 shares of company stock valued at $3,969,870. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EQH shares. Wells Fargo & Company lifted their target price on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup boosted their price objective on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Truist Financial raised their target price on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Finally, Barclays raised their price objective on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and a consensus target price of $48.70.

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.