Wells Fargo & Company Has Lowered Expectations for Equitable (NYSE:EQH) Stock Price

Equitable (NYSE:EQH) had its target price lowered by Wells Fargo & Company from $65.00 to $62.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 36.92% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley decreased their price target on Equitable from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Evercore ISI upped their target price on Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Wolfe Research upgraded Equitable to a “strong-buy” rating in a report on Tuesday, September 16th. Barclays reissued an “overweight” rating and issued a $63.00 price target on shares of Equitable in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Equitable in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.18.

Equitable Stock Performance

NYSE:EQH opened at $45.28 on Friday. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.14 and a current ratio of 0.10. Equitable has a fifty-two week low of $41.39 and a fifty-two week high of $56.61. The company has a 50 day simple moving average of $50.58 and a two-hundred day simple moving average of $52.02. The company has a market capitalization of $13.56 billion, a PE ratio of -16.41 and a beta of 1.17.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The company’s revenue for the quarter was down 52.8% compared to the same quarter last year. Research analysts anticipate that Equitable will post 7.33 earnings per share for the current year.

Insider Transactions at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $48.99, for a total value of $332,642.10. Following the completion of the sale, the chief operating officer owned 75,098 shares of the company’s stock, valued at approximately $3,679,051.02. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the sale, the director owned 26,001 shares of the company’s stock, valued at approximately $1,348,411.86. This represents a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 178,958 shares of company stock worth $9,362,262 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors Inc. lifted its position in shares of Equitable by 310.2% during the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company’s stock valued at $904,000 after buying an additional 13,120 shares during the last quarter. Nordea Investment Management AB increased its holdings in Equitable by 18.3% in the 2nd quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock worth $223,168,000 after acquiring an additional 615,314 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Equitable by 53.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock valued at $971,000 after acquiring an additional 6,065 shares during the period. OneDigital Investment Advisors LLC bought a new stake in Equitable in the 1st quarter valued at about $255,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Equitable during the second quarter valued at about $73,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

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.