Equitable (NYSE:EQH) Hits New 1-Year High Following Analyst Upgrade

Equitable Holdings, Inc. (NYSE:EQH)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $41.00 to $43.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Equitable traded as high as $39.63 and last traded at $39.51, with a volume of 100878 shares traded. The stock had previously closed at $39.16.

A number of other equities analysts have also recently issued reports on EQH. Evercore ISI upped their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their price target on shares of Equitable from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group boosted their price objective on shares of Equitable from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Truist Financial lifted their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, UBS Group upped their price target on shares of Equitable from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.30.

Insider Buying and Selling

In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the transaction, the insider now owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the transaction, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bertram L. Scott sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $35.29, for a total transaction of $247,030.00. Following the completion of the sale, the director now directly owns 20,902 shares of the company’s stock, valued at $737,631.58. The disclosure for this sale can be found here. Insiders have sold 314,380 shares of company stock valued at $11,518,571 over the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EQH. Lindbrook Capital LLC increased its stake in shares of Equitable by 143.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after purchasing an additional 591 shares in the last quarter. Blue Trust Inc. increased its position in Equitable by 126.2% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after buying an additional 704 shares in the last quarter. GAMMA Investing LLC purchased a new position in Equitable during the fourth quarter valued at $50,000. Harvest Fund Management Co. Ltd bought a new stake in Equitable in the fourth quarter worth $64,000. Finally, Rise Advisors LLC grew its stake in shares of Equitable by 1,421.4% in the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after acquiring an additional 1,592 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Up 0.0 %

The firm has a fifty day moving average price of $36.56 and a two-hundred day moving average price of $33.24. The stock has a market capitalization of $12.83 billion, a P/E ratio of 12.21 and a beta of 1.40.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.12. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.59 billion. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.06 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 26th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.88 annualized dividend and a yield of 2.23%. Equitable’s dividend payout ratio (DPR) is presently 27.24%.

Equitable Company Profile

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.