JPMorgan Chase & Co. Increases Equitable (NYSE:EQH) Price Target to $53.00

Equitable (NYSE:EQH) had its price target hoisted by JPMorgan Chase & Co. from $45.00 to $53.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 8.05% from the company’s previous close.

Other research analysts have also issued research reports about the company. Wells Fargo & Company lifted their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of Equitable from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $54.00 to $58.00 in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Equitable Trading Down 0.1 %

Shares of Equitable stock opened at $49.05 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $47.36 and a 200-day simple moving average of $43.75. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of -45.00 and a beta of 1.39. Equitable has a 12-month low of $31.76 and a 12-month high of $50.51.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Equitable’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, equities analysts forecast that Equitable will post 6.05 EPS for the current fiscal year.

Insider Buying and Selling at Equitable

In other news, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the transaction, the chief accounting officer now owns 17,677 shares in the company, valued at $825,162.36. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nick Lane sold 25,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $45.84, for a total transaction of $1,146,000.00. Following the sale, the insider now directly owns 141,629 shares in the company, valued at approximately $6,492,273.36. This represents a 15.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,032 shares of company stock valued at $6,031,759. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equitable

Several hedge funds have recently bought and sold shares of EQH. Versant Capital Management Inc grew its holdings in Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Covestor Ltd grew its stake in Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after acquiring an additional 246 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new position in Equitable during the 3rd quarter valued at about $48,000. UMB Bank n.a. raised its position in Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after acquiring an additional 718 shares during the last quarter. Finally, Quarry LP raised its position in Equitable by 623.5% during the second quarter. Quarry LP now owns 2,366 shares of the company’s stock worth $97,000 after acquiring an additional 2,039 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

About Equitable

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.