Equitable Holdings, Inc. (NYSE:EQH – Get Free Report)’s share price fell 6.6% during mid-day trading on Friday. The stock traded as low as $51.40 and last traded at $51.4220. 1,749,316 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 3,485,348 shares. The stock had previously closed at $55.04.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on EQH shares. Keefe, Bruyette & Woods increased their target price on shares of Equitable from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on shares of Equitable from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Mizuho decreased their price objective on shares of Equitable from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Barclays raised their price objective on Equitable from $52.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $65.00 price objective on shares of Equitable in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.18.
View Our Latest Report on Equitable
Equitable Stock Performance
The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a 50 day simple moving average of $52.33 and a two-hundred day simple moving average of $47.18. The company has a market cap of $14.40 billion, a PE ratio of -15.94, a PEG ratio of 0.52 and a beta of 1.10.
Equitable (NYSE:EQH – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%. The company’s revenue was down 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. Equities analysts predict that Equitable Holdings, Inc. will post 7.17 EPS for the current year.
Insider Transactions at Equitable
In other Equitable news, Director Arlene Isaacs-Lowe sold 1,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $52.83, for a total transaction of $52,830.00. Following the transaction, the director directly owned 19,763 shares of the company’s stock, valued at approximately $1,044,079.29. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nick Lane sold 14,923 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $53.24, for a total transaction of $794,500.52. Following the transaction, the insider directly owned 110,007 shares in the company, valued at $5,856,772.68. The trade was a 11.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,816 shares of company stock worth $1,731,591 over the last 90 days. Company insiders own 1.00% of the company’s stock.
Institutional Investors Weigh In On Equitable
Several hedge funds have recently made changes to their positions in EQH. BlackRock Inc. purchased a new position in shares of Equitable during the second quarter worth about $1,136,305,000. Canada Pension Plan Investment Board purchased a new stake in Equitable during the 2nd quarter valued at approximately $399,576,000. Wellington Management Group LLP raised its stake in Equitable by 6.3% during the 2nd quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company’s stock valued at $385,485,000 after acquiring an additional 523,638 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in Equitable during the 2nd quarter worth approximately $244,052,000. Finally, Thornburg Investment Management Inc. lifted its position in Equitable by 3.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 5,142,337 shares of the company’s stock worth $225,646,000 after acquiring an additional 148,132 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.
Equitable Company Profile
Equitable Holdings, Inc (NYSE: EQH) is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.
Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.
Featured Articles
- Five stocks we like better than Equitable
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
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.
