Keefe, Bruyette & Woods Raises Equitable (NYSE:EQH) Price Target to $62.00

Equitable (NYSE:EQH) had its price objective boosted by research analysts at Keefe, Bruyette & Woods from $58.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 15.31% from the stock’s current price.

A number of other brokerages have also recently issued reports on EQH. Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $58.00 in a research note on Friday, January 10th. BMO Capital Markets started coverage on shares of Equitable in a research report on Thursday, January 23rd. They set an “outperform” rating and a $70.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Equitable from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Barclays upped their target price on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial boosted their price target on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Equitable Stock Up 0.1 %

Shares of EQH stock opened at $53.77 on Wednesday. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 14.08 and a beta of 1.39. Equitable has a 12-month low of $32.72 and a 12-month high of $54.82. The firm has a fifty day moving average of $49.76 and a 200-day moving average of $45.59. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, equities research analysts predict that Equitable will post 7.24 earnings per share for the current fiscal year.

Insider Transactions at Equitable

In related news, 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 value of $1,146,000.00. Following the completion of the transaction, the insider now owns 141,629 shares of the company’s stock, valued at $6,492,273.36. The trade was a 15.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $51.65, for a total transaction of $1,549,500.00. Following the sale, the chief executive officer now directly owns 629,939 shares of the company’s stock, valued at $32,536,349.35. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,032 shares of company stock valued at $7,587,971. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equitable

Several hedge funds and other institutional investors have recently made changes to their positions in EQH. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Equitable by 2.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 436,216 shares of the company’s stock valued at $20,576,000 after buying an additional 9,416 shares in the last quarter. M.D. Sass LLC acquired a new stake in shares of Equitable in the 4th quarter valued at approximately $25,654,000. Prudential Financial Inc. grew its holdings in shares of Equitable by 319.7% during the 4th quarter. Prudential Financial Inc. now owns 258,215 shares of the company’s stock valued at $12,180,000 after purchasing an additional 196,689 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Equitable by 10.3% during the fourth quarter. LPL Financial LLC now owns 61,325 shares of the company’s stock worth $2,893,000 after buying an additional 5,724 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Equitable in the 4th quarter worth about $5,094,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

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.