Equitable (NYSE:EQH) Given New $62.00 Price Target at Keefe, Bruyette & Woods

Equitable (NYSE:EQH) had its target price hoisted by Keefe, Bruyette & Woods from $58.00 to $62.00 in a report issued on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets started coverage on Equitable in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $70.00 target price on the stock. Wells Fargo & Company cut their price objective on Equitable from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Barclays raised their target price on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Equitable from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $47.00 to $58.00 in a research report on Friday, January 10th. Finally, Truist Financial lifted their price objective on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Equitable Stock Down 0.1 %

NYSE:EQH opened at $53.66 on Wednesday. Equitable has a 12-month low of $32.72 and a 12-month high of $54.82. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $16.81 billion, a P/E ratio of 14.05 and a beta of 1.39. The stock’s fifty day simple moving average is $49.88 and its 200-day simple moving average is $45.64.

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

Equitable Dividend Announcement

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

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $47.43, for a total value of $1,422,900.00. Following the sale, the chief executive officer now directly owns 648,555 shares in the company, valued at $30,760,963.65. The trade was a 4.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William James Iv Eckert sold 1,700 shares of Equitable stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.68, for a total transaction of $79,356.00. Following the transaction, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,032 shares of company stock worth $7,587,971 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equitable

Several large investors have recently modified their holdings of the business. Norges Bank acquired a new position in Equitable during the 4th quarter valued at approximately $668,250,000. State Street Corp lifted its holdings in Equitable by 2.7% during the third quarter. State Street Corp now owns 12,976,870 shares of the company’s stock valued at $545,418,000 after purchasing an additional 338,205 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Equitable by 59.9% during the fourth quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company’s stock valued at $415,899,000 after purchasing an additional 3,303,449 shares in the last quarter. Amundi lifted its holdings in Equitable by 56.3% during the fourth quarter. Amundi now owns 2,659,691 shares of the company’s stock valued at $130,351,000 after purchasing an additional 957,828 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Equitable by 20.7% in the fourth quarter. Principal Financial Group Inc. now owns 2,554,890 shares of the company’s stock valued at $120,529,000 after buying an additional 437,322 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

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.