Equitable Holdings, Inc. (NYSE:EQH) Receives $48.70 Average Target Price from Brokerages

Equitable Holdings, Inc. (NYSE:EQH) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $48.70.

A number of research firms recently commented on EQH. Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup increased their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley lowered their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Truist Financial raised their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their target price on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. This trade represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.53, for a total value of $316,834.98. Following the completion of the transaction, the chief operating officer now owns 105,246 shares of the company’s stock, valued at $5,002,342.38. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,166 shares of company stock valued at $4,286,705 over the last quarter. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equitable

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its position in shares of Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 246 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Equitable during the 1st quarter worth approximately $28,000. LRI Investments LLC acquired a new position in shares of Equitable during the 1st quarter worth approximately $45,000. Carolina Wealth Advisors LLC acquired a new position in shares of Equitable during the 3rd quarter worth approximately $48,000. Finally, UMB Bank n.a. raised its holdings in Equitable by 86.3% in the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after acquiring an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

Shares of EQH opened at $47.44 on Friday. Equitable has a 12-month low of $27.74 and a 12-month high of $50.51. The business’s fifty day moving average is $43.97 and its 200 day moving average is $41.81. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock has a market cap of $14.86 billion, a P/E ratio of -43.52 and a beta of 1.40.

Equitable (NYSE:EQH) last issued its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.53. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. Equitable’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Sell-side analysts anticipate that Equitable will post 6.03 earnings per share for the current fiscal year.

Equitable Company Profile

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.