Equitable (NYSE:EQH) Hits New 12-Month High – Here’s Why

Shares of Equitable Holdings, Inc. (NYSE:EQH) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.90 and last traded at $47.65, with a volume of 16727 shares. The stock had previously closed at $44.49.

Wall Street Analysts Forecast Growth

EQH has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial boosted their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays boosted their target price on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup raised their price target on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley decreased their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Equitable Price Performance

The business’s fifty day simple moving average is $42.86 and its 200 day simple moving average is $41.26. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $15.84 billion, a price-to-earnings ratio of -40.82 and a beta of 1.40.

Equitable (NYSE:EQH) last released its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The company’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS. Research analysts predict that Equitable Holdings, Inc. will post 6.04 EPS for the current fiscal year.

Insider Activity

In other Equitable news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the transaction, the chief executive officer now owns 668,555 shares of the company’s stock, valued at $27,263,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Mark Pearson sold 30,000 shares of the firm’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 of the company’s stock, valued at approximately $27,263,672.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,500 shares of company stock worth $3,969,870. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EQH. Covestor Ltd boosted its position in shares of Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after buying an additional 246 shares during the period. New Covenant Trust Company N.A. bought a new position in Equitable in the 1st quarter valued at about $28,000. LRI Investments LLC acquired a new stake in shares of Equitable in the 1st quarter worth approximately $45,000. Carolina Wealth Advisors LLC bought a new position in shares of Equitable in the third quarter valued at approximately $48,000. Finally, UMB Bank n.a. increased its stake in shares of Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after acquiring an additional 718 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

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.