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

Equitable (NYSE:EQH) had its target price lifted by Truist Financial from $52.00 to $60.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Equitable from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $54.00 to $58.00 in a report on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Equitable from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets started coverage on shares of Equitable in a research note on Thursday, January 23rd. They set an “outperform” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised Equitable from a “hold” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $58.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Equitable Price Performance

Shares of EQH opened at $53.72 on Monday. The company has a 50 day moving average of $49.64 and a two-hundred day moving average of $45.51. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Equitable has a twelve month low of $32.72 and a twelve month high of $54.82. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 14.06 and a beta of 1.39.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, analysts predict that Equitable will post 7.24 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.79%. The ex-dividend date was Tuesday, November 26th. Equitable’s dividend payout ratio (DPR) is 25.13%.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $47.43, for a total value of $1,422,900.00. Following the completion of the transaction, the chief executive officer now owns 648,555 shares of the company’s stock, valued at approximately $30,760,963.65. This represents a 4.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nick Lane sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,291,250.00. Following the completion of the sale, the insider now owns 121,629 shares of the company’s stock, valued at $6,282,137.85. This trade represents a 17.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,032 shares of company stock valued at $7,587,971. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equitable

A number of hedge funds have recently modified their holdings of EQH. MQS Management LLC acquired a new position in Equitable during the third quarter worth $587,000. JPMorgan Chase & Co. boosted its stake in Equitable by 20.3% during the third quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company’s stock worth $38,191,000 after buying an additional 153,457 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of Equitable during the fourth quarter valued at about $295,000. Principal Financial Group Inc. raised its stake in shares of Equitable by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock valued at $89,001,000 after acquiring an additional 148,180 shares during the period. Finally, Qsemble Capital Management LP lifted its holdings in shares of Equitable by 902.4% in the 3rd quarter. Qsemble Capital Management LP now owns 78,456 shares of the company’s stock worth $3,298,000 after acquiring an additional 70,629 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

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.