Equitable (NYSE:EQH – Get Free Report) had its target price boosted by research analysts at Wells Fargo & Company from $57.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 27.55% from the company’s current price.
Several other research analysts have also commented on the stock. Wolfe Research lowered shares of Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Barclays reduced their price objective on Equitable from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group boosted their price target on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Research raised Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Equitable in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and a consensus price target of $59.36.
Check Out Our Latest Research Report on Equitable
Equitable Stock Up 2.9%
Equitable (NYSE:EQH – Get Free Report) last released 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 during the quarter, compared to analysts’ expectations of $3.95 billion. Equitable had a positive return on equity of 232.29% and a negative net margin of 7.26%.The firm’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.35 earnings per share. Analysts predict that Equitable will post 7.07 EPS for the current fiscal year.
Insider Buying and Selling
In other Equitable news, COO Jeffrey J. Hurd sold 14,358 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.44, for a total transaction of $609,353.52. Following the sale, the chief operating officer owned 79,403 shares in the company, valued at $3,369,863.32. This represents a 15.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bertram L. Scott sold 2,470 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $41.08, for a total value of $101,467.60. Following the transaction, the director directly owned 27,931 shares of the company’s stock, valued at $1,147,405.48. This represents a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 154,248 shares of company stock worth $6,608,358 over the last quarter. Company insiders own 1.10% of the company’s stock.
Institutional Trading of Equitable
A number of hedge funds have recently made changes to their positions in EQH. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Equitable by 13.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,976 shares of the company’s stock worth $14,965,000 after acquiring an additional 36,135 shares in the last quarter. Prana Capital Management LP increased its position in Equitable by 80.7% in the 3rd quarter. Prana Capital Management LP now owns 209,769 shares of the company’s stock worth $10,652,000 after purchasing an additional 93,660 shares during the last quarter. Advent International L.P. acquired a new position in Equitable in the 3rd quarter worth about $26,893,000. Barclays PLC raised its stake in shares of Equitable by 25.1% during the 3rd quarter. Barclays PLC now owns 532,833 shares of the company’s stock worth $27,057,000 after purchasing an additional 106,967 shares in the last quarter. Finally, EFG Asset Management Americas Corp. acquired a new stake in shares of Equitable during the 3rd quarter valued at about $1,810,000. 92.70% of the stock is owned by hedge funds and other institutional investors.
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.
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