Equitable (NYSE:EQH) Stock Price Target Raised at Truist Financial

Equitable (NYSE:EQH) had its price objective lifted by Truist Financial from $60.00 to $65.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. Evercore restated an “outperform” rating and issued a $66.00 price objective on shares of Equitable in a report on Thursday, August 20th. Barclays lifted their target price on Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Wolfe Research lowered Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Jefferies Financial Group increased their price target on Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, UBS Group raised their price target on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Equitable Stock Performance

Shares of EQH opened at $56.17 on Wednesday. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.54 and a beta of 1.06. Equitable has a 12 month low of $35.19 and a 12 month high of $56.83. The firm has a fifty day simple moving average of $53.06 and a 200 day simple moving average of $46.03. The company has a current ratio of 0.12, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75.

Equitable (NYSE:EQH) last issued 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. Equitable had a net margin of 11.53% and a negative return on equity of 3,089.96%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business earned $1.48 EPS. The company’s revenue was up 167.7% compared to the same quarter last year. Research analysts forecast that Equitable will post 7.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Arlene Isaacs-Lowe sold 1,000 shares of Equitable stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $52.83, for a total transaction of $52,830.00. Following the completion of the transaction, the director directly owned 19,763 shares in the company, valued at approximately $1,044,079.29. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig C. Mackay sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total value of $113,014.00. Following the transaction, the director directly owned 18,999 shares in the company, valued at $975,978.63. The trade was a 10.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 23,850 shares of company stock valued at $1,270,055. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Equitable

Several hedge funds have recently added to or reduced their stakes in EQH. Lido Advisors LLC lifted its position in Equitable by 24.0% during the third quarter. Lido Advisors LLC now owns 10,380 shares of the company’s stock worth $532,000 after acquiring an additional 2,012 shares during the last quarter. D Orazio & Associates Inc. bought a new stake in shares of Equitable during the third quarter worth approximately $217,000. AlphaCore Capital LLC acquired a new position in shares of Equitable in the third quarter valued at approximately $248,000. Retirement Systems of Alabama grew its position in shares of Equitable by 26.6% in the third quarter. Retirement Systems of Alabama now owns 508,404 shares of the company’s stock valued at $26,066,000 after purchasing an additional 106,733 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Equitable in the third quarter valued at approximately $531,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

More Equitable News

Here are the key news stories impacting Equitable this week:

• Positive Sentiment: Truist raised its price target to $65 from $60 and reiterated a Buy rating. The new target implies about 15.7% upside from the cited $56.17 share price, adding to bullish analyst sentiment. Truist raises Equitable price target
• Positive Sentiment: Equitable reported third-quarter EPS of $2.13, ahead of estimates around $1.86–$1.87, and revenue of $3.88 billion versus expectations of $3.75 billion. EPS also rose from $1.48 a year earlier, supporting the case for improving results. Equitable Q3 earnings beat
• Positive Sentiment: The Q3 earnings-call coverage pointed to growth and progress on the company’s merger plans, which may provide investors with additional strategic upside; the supplied reports do not detail the transaction’s terms or expected financial impact. Earnings call highlights

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.

Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.