Equitable (NYSE:EQH) Price Target Raised to $52.00 at Truist Financial

Equitable (NYSE:EQH) had its price target upped by Truist Financial from $44.00 to $52.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Evercore ISI lifted their target price on shares of Equitable from $42.00 to $46.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Wells Fargo & Company cut their price objective on shares of Equitable from $46.00 to $44.00 and set an overweight rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Equitable from $36.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Morgan Stanley boosted their price objective on shares of Equitable from $44.00 to $46.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Finally, Citigroup boosted their price objective on shares of Equitable from $41.00 to $53.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $44.18.

Equitable Trading Down 6.6 %

Shares of Equitable stock traded down $2.78 during trading on Thursday, hitting $39.22. 789,027 shares of the stock were exchanged, compared to its average volume of 2,638,770. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 13.00 and a beta of 1.43. The company has a fifty day moving average price of $41.27 and a 200-day moving average price of $37.75. Equitable has a 1-year low of $24.65 and a 1-year high of $44.50.

Equitable (NYSE:EQH) last announced its earnings results on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. The business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. Equities research analysts forecast that Equitable will post 6.04 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is currently 29.72%.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $39.62, for a total value of $394,971.78. Following the completion of the transaction, the chief operating officer now directly owns 121,521 shares in the company, valued at approximately $4,814,662.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

A number of institutional investors have recently modified their holdings of EQH. Raymond James Financial Services Advisors Inc. boosted its stake in Equitable by 3.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 22,154 shares of the company’s stock worth $738,000 after acquiring an additional 761 shares in the last quarter. Blue Trust Inc. boosted its stake in 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 in the last quarter. State of Alaska Department of Revenue bought a new position in Equitable during the fourth quarter worth $1,144,000. Pinnacle Associates Ltd. bought a new position in Equitable during the fourth quarter worth $413,000. Finally, Fifth Third Bancorp boosted its stake in Equitable by 35.7% during the fourth quarter. Fifth Third Bancorp now owns 4,219 shares of the company’s stock worth $140,000 after acquiring an additional 1,109 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

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.