Shares of Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $53.28 and traded as high as $56.00. Equitable shares last traded at $55.4750, with a volume of 1,989,208 shares traded.
Wall Street Analyst Weigh In
EQH has been the topic of several research reports. Evercore restated an “outperform” rating and issued a $66.00 price target on shares of Equitable in a research note on Thursday, August 20th. Truist Financial lifted their price objective on shares of Equitable from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Barclays boosted their price objective on shares of Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Wells Fargo & Company increased their target price on shares of Equitable from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Finally, Weiss Ratings raised shares of Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Equitable has an average rating of “Moderate Buy” and a consensus price target of $63.33.
Read Our Latest Stock Report on EQH
Equitable Trading Up 5.3%
The business has a 50-day moving average price of $53.28 and a two-hundred day moving average price of $46.14. The stock has a market capitalization of $15.15 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.55 and a beta of 1.06. The company has a current ratio of 0.12, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75.
Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.27. Equitable had a negative return on equity of 3,089.96% and a net margin of 11.53%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the firm posted $1.48 EPS. Equitable’s quarterly revenue was up 167.7% on a year-over-year basis. On average, analysts expect that Equitable Holdings, Inc. will post 7.20 EPS for the current fiscal year.
Insider Activity
In other news, insider Nick Lane sold 14,923 shares of Equitable stock in a transaction on Friday, September 4th. The stock was sold at an average price of $53.24, for a total value of $794,500.52. Following the transaction, the insider owned 110,007 shares in the company, valued at approximately $5,856,772.68. This trade represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bertram L. Scott sold 2,780 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $54.35, for a total value of $151,093.00. Following the transaction, the director directly owned 23,685 shares of the company’s stock, valued at approximately $1,287,279.75. The trade was a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 20,703 shares of company stock worth $1,106,964. 1.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Equitable
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Equitable during the 2nd quarter worth approximately $1,136,305,000. Canada Pension Plan Investment Board acquired a new stake in Equitable in the second quarter valued at approximately $399,576,000. Wellington Management Group LLP boosted its position in Equitable by 6.3% in the second quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company’s stock valued at $385,485,000 after buying an additional 523,638 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Equitable by 1.0% during the third quarter. Pzena Investment Management LLC now owns 5,618,993 shares of the company’s stock worth $288,086,000 after buying an additional 57,189 shares during the last quarter. Finally, Thornburg Investment Management Inc. grew its stake in shares of Equitable by 3.0% during the second quarter. Thornburg Investment Management Inc. now owns 5,142,337 shares of the company’s stock worth $225,646,000 after buying an additional 148,132 shares during the last quarter. 92.70% of the stock is owned by institutional investors.
About Equitable
Equitable Holdings, Inc is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions.
The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable’s insurance and retirement businesses primarily serve customers in the United States.
Equitable traces its history to the Equitable Life Assurance Society of the United States, founded in 1859.
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