Equitable (NYSE:EQH) Given New $60.00 Price Target at Barclays

Equitable (NYSE:EQH) had its price target raised by Barclays from $59.00 to $60.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 39.99% from the stock’s current price.

EQH has been the subject of a number of other research reports. Citigroup increased their target price on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group increased their target price on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised their target price on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. UBS Group cut Equitable from a “buy” rating to a “neutral” rating and raised their target price for the stock from $40.00 to $43.00 in a report on Tuesday, June 18th. Finally, Truist Financial lifted their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.30.

Equitable Trading Up 0.3 %

Equitable stock traded up $0.11 during midday trading on Tuesday, hitting $42.86. 1,548,138 shares of the stock were exchanged, compared to its average volume of 2,497,112. Equitable has a fifty-two week low of $24.65 and a fifty-two week high of $44.50. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 13.26 and a beta of 1.41. The stock’s 50-day simple moving average is $40.83 and its 200 day simple moving average is $40.10.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The business’s revenue was up 47.7% on a year-over-year basis. On average, equities analysts anticipate that Equitable will post 6.01 EPS for the current year.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the transaction, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $40.78, for a total value of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.09, for a total value of $429,564.21. Following the transaction, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,469 shares of company stock worth $3,067,434. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Equitable

Several institutional investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP increased its stake in Equitable by 53.0% during the 3rd quarter. Artemis Investment Management LLP now owns 910,729 shares of the company’s stock worth $38,278,000 after buying an additional 315,638 shares during the period. Diversified Trust Co increased its holdings in shares of Equitable by 168.4% during the third quarter. Diversified Trust Co now owns 21,560 shares of the company’s stock valued at $906,000 after purchasing an additional 13,526 shares during the period. GAMMA Investing LLC grew its holdings in Equitable by 12.0% during the third quarter. GAMMA Investing LLC now owns 7,453 shares of the company’s stock worth $313,000 after acquiring an additional 796 shares during the period. Handelsbanken Fonder AB increased its stake in Equitable by 11.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 76,300 shares of the company’s stock worth $3,207,000 after purchasing an additional 8,100 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Equitable by 6.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 213,700 shares of the company’s stock worth $8,732,000 after buying an additional 13,700 shares during the period. Institutional investors and hedge funds 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.