Equitable (NYSE:EQH) Rating Increased to Buy at UBS Group

Equitable (NYSE:EQH) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $77.00 price target on the stock, up from their previous price target of $49.00. UBS Group’s price target indicates a potential upside of 47.41% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Truist Financial boosted their price target on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods raised their price target on shares of Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a “hold” rating to a “buy” rating and upped their price objective for the company from $47.00 to $58.00 in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their target price on shares of Equitable from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.58.

Equitable Stock Performance

NYSE:EQH opened at $52.23 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. The company has a market capitalization of $16.03 billion, a P/E ratio of 13.67 and a beta of 1.39. The firm has a 50-day moving average price of $53.01 and a two-hundred day moving average price of $48.65. Equitable has a twelve month low of $35.49 and a twelve month high of $56.00.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, research analysts expect that Equitable will post 7.33 earnings per share for the current fiscal year.

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,549,500.00. Following the transaction, the chief executive officer now directly owns 629,939 shares in the company, valued at approximately $32,536,349.35. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nick Lane sold 25,000 shares of Equitable stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total transaction of $1,291,250.00. Following the completion of the transaction, the insider now directly owns 121,629 shares of the company’s stock, valued at $6,282,137.85. This trade represents a 17.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,332 shares of company stock valued at $5,364,610 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of Equitable by 195.6% during the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Bessemer Group Inc. boosted its position in Equitable by 111.2% during the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company’s stock valued at $32,000 after purchasing an additional 357 shares during the period. Assetmark Inc. grew its stake in Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after buying an additional 199 shares during the last quarter. Mizuho Bank Ltd. increased its position in Equitable by 61.4% in the fourth quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company’s stock worth $53,000 after buying an additional 430 shares during the period. Finally, McIlrath & Eck LLC lifted its stake in Equitable by 154.3% in the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company’s stock valued at $65,000 after buying an additional 841 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

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.