Equitable (NYSE:EQH) Price Target Raised to $46.00 at Morgan Stanley

Equitable (NYSE:EQHFree Report) had its target price hoisted by Morgan Stanley from $44.00 to $46.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

EQH has been the topic of a number of other reports. Evercore ISI lifted their price target on shares of Equitable from $42.00 to $46.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Wells Fargo & Company reduced their target price on shares of Equitable from $46.00 to $44.00 and set an overweight rating on the stock in a research report on Friday, May 10th. Truist Financial boosted their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. UBS Group cut shares of Equitable from a buy rating to a neutral rating and boosted their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Equitable from $36.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $42.50.

Read Our Latest Stock Report on Equitable

Equitable Stock Performance

Equitable stock opened at $41.61 on Wednesday. Equitable has a 1 year low of $24.65 and a 1 year high of $41.95. The firm has a 50 day moving average price of $40.47 and a 200 day moving average price of $36.76. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 12.88 and a beta of 1.43.

Equitable (NYSE:EQHGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.59 billion. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. Sell-side analysts predict that Equitable will post 6.11 EPS for the current year.

Equitable Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from Equitable’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.31%. Equitable’s dividend payout ratio is currently 29.72%.

Insider Activity at Equitable

In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were 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 owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $36.24, for a total transaction of $361,276.56. Following the completion of the sale, the chief operating officer now owns 141,062 shares in the company, valued at $5,112,086.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the sale, the insider now owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The disclosure for this sale can be found here. Insiders have sold 202,411 shares of company stock valued at $7,646,571 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

Institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in shares of Equitable during the first quarter worth about $28,000. Lindbrook Capital LLC grew its position in shares of Equitable by 143.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after acquiring an additional 591 shares during the last quarter. LRI Investments LLC bought a new position in shares of Equitable during the first quarter worth about $45,000. Blue Trust Inc. grew its position in shares of Equitable by 126.2% during the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock worth $42,000 after acquiring an additional 704 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Equitable during the fourth quarter worth about $50,000. Institutional investors own 92.70% of the company’s stock.

Equitable Company Profile

(Get Free Report)

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.

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