Equitable (NYSE:EQH) Price Target Lowered to $53.00 at Wells Fargo & Company

Equitable (NYSE:EQH) had its price objective decreased by investment analysts at Wells Fargo & Company from $54.00 to $53.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 6.02% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Barclays lifted their price objective on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $54.00 to $58.00 in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $58.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Equitable Price Performance

EQH stock traded up $0.97 during midday trading on Tuesday, reaching $49.99. The company had a trading volume of 494,035 shares, compared to its average volume of 2,227,576. The firm has a 50-day moving average price of $47.49 and a 200-day moving average price of $43.87. Equitable has a 1 year low of $31.76 and a 1 year high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $15.66 billion, a P/E ratio of -45.86 and a beta of 1.39.

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

Insider Buying and Selling

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the sale, the chief operating officer now owns 105,246 shares in the company, valued at approximately $5,002,342.38. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the transaction, the chief accounting officer now directly owns 17,677 shares in the company, valued at approximately $825,162.36. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,032 shares of company stock worth $4,699,759 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQH. MQS Management LLC bought a new position in Equitable in the 3rd quarter valued at about $587,000. JPMorgan Chase & Co. raised its position in Equitable by 20.3% during the third quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company’s stock valued at $38,191,000 after purchasing an additional 153,457 shares in the last quarter. Maverick Capital Ltd. boosted its position in Equitable by 230.0% during the second quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock valued at $1,505,000 after buying an additional 25,678 shares during the period. Principal Financial Group Inc. boosted its position in Equitable by 7.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock valued at $89,001,000 after buying an additional 148,180 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Equitable by 55.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock worth $2,564,000 after acquiring an additional 22,346 shares during the period. 92.70% of the stock is owned by institutional investors.

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.