Equitable (NYSE:EQH – Get Free Report) had its target price hoisted by investment analysts at Keefe, Bruyette & Woods from $60.00 to $62.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 31.98% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. Mizuho increased their target price on shares of Equitable from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday. Zacks Research raised shares of Equitable from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Evercore set a $63.00 price objective on shares of Equitable and gave the company an “outperform” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. reduced their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, UBS Group raised their price target on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.08.
Get Our Latest Analysis on EQH
Equitable Trading Down 0.1%
Equitable (NYSE:EQH – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. Equitable’s revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.35 EPS. As a group, research analysts forecast that Equitable will post 7.07 EPS for the current year.
Insider Activity
In related news, Director Bertram L. Scott sold 2,470 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $41.08, for a total value of $101,467.60. Following the sale, the director directly owned 27,931 shares of the company’s stock, valued at $1,147,405.48. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nick Lane sold 4,417 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.45, for a total value of $187,501.65. Following the transaction, the insider owned 124,218 shares in the company, valued at approximately $5,273,054.10. This represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 154,248 shares of company stock valued at $6,608,358. Corporate insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Equitable
A number of hedge funds and other institutional investors have recently made changes to their positions in EQH. Chesley Taft & Associates LLC bought a new stake in Equitable in the second quarter valued at $424,000. Community Trust & Investment Co. raised its holdings in Equitable by 22.8% in the 2nd quarter. Community Trust & Investment Co. now owns 476,885 shares of the company’s stock worth $20,926,000 after purchasing an additional 88,484 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Equitable by 30.8% in the 2nd quarter. GAMMA Investing LLC now owns 11,919 shares of the company’s stock worth $523,000 after purchasing an additional 2,805 shares during the period. Harbor Investment Advisory LLC boosted its stake in shares of Equitable by 557.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,545 shares of the company’s stock valued at $68,000 after purchasing an additional 1,310 shares in the last quarter. Finally, CX Institutional raised its stake in Equitable by 30.2% in the second quarter. CX Institutional now owns 1,282 shares of the company’s stock worth $56,000 after buying an additional 297 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.
About Equitable
Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.
The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.
Read More
- Five stocks we like better than Equitable
- 3 Dividend Stocks with Growth on Tap for the Second Half
- 3 Overlooked Stocks Positioned for the Next Market Rotation
- 3 Non-Tech Stocks Still Winning Big on AI
- Achieve Robust Diversification With These 3 Equal-Weight ETFs
Receive News & Ratings for Equitable Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equitable and related companies with MarketBeat.com's FREE daily email newsletter.
