Equitable (NYSE:EQH) Issues Quarterly Earnings Results

Equitable (NYSE:EQH) issued its quarterly earnings results on Tuesday. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12, Briefing.com reports. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the business posted $0.96 EPS. Equitable’s revenue was down 5.4% compared to the same quarter last year.

Equitable Stock Performance

Shares of NYSE:EQH traded up $0.62 during trading on Wednesday, reaching $37.53. The stock had a trading volume of 2,451,772 shares, compared to its average volume of 2,602,506. The business has a fifty day moving average price of $36.02 and a 200-day moving average price of $32.82. The stock has a market cap of $12.30 billion, a PE ratio of 11.01 and a beta of 1.42. Equitable has a 1-year low of $21.89 and a 1-year high of $38.44.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, February 23rd. Equitable’s dividend payout ratio is presently 26.04%.

Analyst Ratings Changes

Several research analysts have recently issued reports on EQH shares. Jefferies Financial Group raised their price objective on Equitable from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut Equitable from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $36.00 in a research note on Wednesday, January 3rd. Evercore ISI raised their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. UBS Group raised their price objective on Equitable from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Morgan Stanley lifted their price target on Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Insiders Place Their Bets

In other Equitable news, insider Nick Lane sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total transaction of $680,400.00. Following the transaction, the insider now owns 144,132 shares of the company’s stock, valued at $4,903,370.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Charles G.T. Stonehill sold 5,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $34.02, for a total transaction of $170,100.00. Following the transaction, the director now owns 29,758 shares of the company’s stock, valued at approximately $1,012,367.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nick Lane sold 20,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total value of $680,400.00. Following the transaction, the insider now directly owns 144,132 shares in the company, valued at approximately $4,903,370.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,907 shares of company stock valued at $8,338,649. Insiders own 1.10% of the company’s stock.

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.