Equitable (NYSE:EQH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Equitable (NYSE:EQH) had its target price raised by equities researchers at Wells Fargo & Company from $53.00 to $61.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 9.90% from the company’s current price.

Several other equities analysts also recently commented on EQH. Truist Financial upped their price target on shares of Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. BMO Capital Markets began coverage on Equitable in a report on Thursday, January 23rd. They issued an “outperform” rating and a $70.00 price target on the stock. Barclays boosted their price objective on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their target price on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.58.

Equitable Price Performance

NYSE:EQH opened at $55.50 on Wednesday. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 14.53 and a beta of 1.39. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12. The business has a 50 day simple moving average of $50.52 and a 200-day simple moving average of $46.03. Equitable has a 1 year low of $32.96 and a 1 year high of $55.79.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) 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%. Equities analysts forecast that Equitable will post 7.33 EPS for the current year.

Insiders Place Their Bets

In other Equitable news, insider Nick Lane sold 25,000 shares of Equitable stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total value of $1,146,000.00. Following the transaction, the insider now directly owns 141,629 shares of the company’s stock, valued at approximately $6,492,273.36. The trade was a 15.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $54.65, for a total value of $364,296.90. Following the sale, the chief operating officer now owns 92,209 shares of the company’s stock, valued at approximately $5,039,221.85. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,032 shares of company stock worth $6,165,071. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Equitable

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. raised its holdings in shares of Equitable by 33.2% in the fourth quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after buying an additional 199 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Equitable by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 6,577 shares of the company’s stock valued at $310,000 after buying an additional 209 shares during the last quarter. Covestor Ltd increased its holdings in Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after buying an additional 246 shares during the period. Truist Financial Corp boosted its holdings in shares of Equitable by 2.8% in the 4th quarter. Truist Financial Corp now owns 9,554 shares of the company’s stock valued at $451,000 after acquiring an additional 257 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Equitable by 10.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company’s stock worth $131,000 after acquiring an additional 266 shares during the period. 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.