Equitable (NYSE:EQH) Releases Quarterly Earnings Results, Hits Expectations

Equitable (NYSE:EQH) announced its earnings results on Monday. The company reported $1.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.53, Zacks reports. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. Equitable’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 earnings per share.

Equitable Stock Performance

Shares of EQH opened at $43.72 on Tuesday. The firm has a market capitalization of $13.86 billion, a P/E ratio of 18.75 and a beta of 1.40. Equitable has a 52 week low of $25.88 and a 52 week high of $46.48. The stock has a 50 day moving average price of $42.81 and a two-hundred day moving average price of $41.20. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12.

Insider Activity

In related news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total value of $1,332,000.00. Following the completion of the sale, the chief executive officer now directly owns 658,555 shares of the company’s stock, valued at approximately $29,239,842. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total value of $1,332,000.00. Following the completion of the sale, the chief executive officer now directly owns 658,555 shares of the company’s stock, valued at approximately $29,239,842. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the transaction, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,500 shares of company stock worth $3,969,870 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQH. Wells Fargo & Company lifted their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Keefe, Bruyette & Woods raised their price objective on shares of Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Citigroup boosted their target price on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial raised their price target on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

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.