Equitable (NYSE:EQH) Upgraded by UBS Group to “Buy” Rating

Equitable (NYSE:EQH) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Wednesday,Benzinga reports. The firm currently has a $77.00 price objective on the stock, up from their prior price objective of $49.00. UBS Group’s target price indicates a potential upside of 47.41% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Barclays lifted their price target on shares of Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on Equitable from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their price target on Equitable from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, Truist Financial increased their price objective on Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.58.

Equitable Trading Up 0.3 %

EQH opened at $52.23 on Wednesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. Equitable has a one year low of $35.49 and a one year high of $56.00. The company has a market cap of $16.03 billion, a P/E ratio of 13.67 and a beta of 1.39. The business’s 50-day simple moving average is $53.01 and its 200-day simple moving average is $48.65.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. As a group, equities research analysts expect that Equitable will post 7.33 EPS for the current fiscal year.

Insider Activity at Equitable

In related news, insider Nick Lane sold 25,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,282,137.85. This trade represents a 17.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total value of $364,296.90. Following the transaction, the chief operating officer now owns 92,209 shares in the company, valued at $5,039,221.85. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,332 shares of company stock worth $5,364,610 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Equitable during the 4th quarter worth $668,250,000. Wellington Management Group LLP grew its position in Equitable by 59.9% during the fourth quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company’s stock worth $415,899,000 after buying an additional 3,303,449 shares during the period. Nordea Investment Management AB increased its holdings in Equitable by 700.3% in the fourth quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company’s stock valued at $74,126,000 after buying an additional 1,367,837 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Equitable by 608.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,468,912 shares of the company’s stock valued at $69,289,000 after acquiring an additional 1,261,466 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Equitable by 237.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company’s stock worth $82,955,000 after acquiring an additional 1,236,799 shares in the last quarter. Institutional investors and hedge funds 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.