Equitable (NYSE:EQH) PT Lowered to $44.00

Equitable (NYSE:EQH) had its price target cut by investment analysts at Wells Fargo & Company from $46.00 to $44.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 11.17% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Evercore ISI upped their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective on Equitable from $41.00 to $43.00 and gave the stock a “market perform” rating in a research report on Tuesday. Morgan Stanley upped their price objective on Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Jefferies Financial Group upped their price objective on Equitable from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Truist Financial upped their price objective on Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and an average target price of $40.10.

Equitable Stock Down 0.2 %

NYSE:EQH traded down $0.06 on Friday, reaching $39.58. The company’s stock had a trading volume of 823,854 shares, compared to its average volume of 2,637,046. Equitable has a 12-month low of $22.46 and a 12-month high of $39.94. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 12.19 and a beta of 1.40. The stock has a 50 day moving average price of $36.67 and a 200 day moving average price of $33.29.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.12. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. Equitable’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts expect that Equitable will post 6.06 EPS for the current fiscal year.

Insider Buying and Selling at Equitable

In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the sale, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the transaction, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Pearson sold 60,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.77, for a total value of $2,026,200.00. Following the transaction, the chief executive officer now directly owns 703,254 shares of the company’s stock, valued at $23,748,887.58. The disclosure for this sale can be found here. Insiders sold a total of 314,380 shares of company stock valued at $11,518,571 in the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Equitable by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock valued at $1,265,815,000 after buying an additional 446,752 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Equitable by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company’s stock valued at $763,764,000 after buying an additional 2,450,484 shares during the last quarter. Norges Bank acquired a new stake in Equitable during the 4th quarter valued at $606,630,000. Hsbc Holdings PLC grew its holdings in Equitable by 1,161.7% during the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after buying an additional 7,227,568 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings 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 owned by hedge funds and other institutional investors.

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.