Equitable (NYSE:EQH) PT Raised to $51.00

Equitable (NYSE:EQH) had its target price increased by investment analysts at Jefferies Financial Group from $46.00 to $51.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 24.82% from the stock’s previous close.

Several other equities research analysts have also issued reports on EQH. UBS Group lowered shares of Equitable from a “buy” rating to a “neutral” rating and increased their target price for the stock from $40.00 to $43.00 in a report on Tuesday, June 18th. Keefe, Bruyette & Woods increased their target price on shares of Equitable from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. Morgan Stanley increased their target price on shares of Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company reduced their target price on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Truist Financial increased their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Equitable Stock Up 0.9 %

Shares of NYSE:EQH opened at $40.86 on Friday. The firm’s 50 day moving average price is $39.91 and its 200-day moving average price is $36.36. Equitable has a twelve month low of $24.65 and a twelve month high of $41.95. The stock has a market capitalization of $13.29 billion, a PE ratio of 12.65 and a beta of 1.41.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company earned $0.96 EPS. Equitable’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that Equitable will post 6.12 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the completion of the transaction, the chief operating officer now directly owns 121,521 shares in the company, valued at approximately $4,814,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the completion of the transaction, the chief operating officer now directly owns 121,521 shares in the company, valued at approximately $4,814,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total value of $5,803,122.38. Following the transaction, the insider now owns 88,660 shares of the company’s stock, valued at $3,374,399.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,411 shares of company stock worth $8,776,371. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Equitable

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Equitable by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after buying an additional 446,752 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Equitable by 3.5% during the first quarter. Canada Pension Plan Investment Board now owns 18,804,685 shares of the company’s stock worth $714,766,000 after purchasing an additional 637,916 shares during the last quarter. Norges Bank bought a new stake in shares of Equitable during the fourth quarter worth $606,630,000. Hsbc Holdings PLC lifted its position in shares of Equitable by 1,161.7% during the fourth quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock worth $262,692,000 after purchasing an additional 7,227,568 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Equitable by 0.3% during the fourth quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock worth $207,553,000 after purchasing an additional 18,475 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

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.