Equitable (NYSE:EQH) Price Target Increased to $52.00 by Analysts at Truist Financial

Equitable (NYSE:EQH) had its target price boosted by equities researchers at Truist Financial from $44.00 to $52.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 19.24% from the stock’s current price.

A number of other brokerages also recently commented on EQH. Citigroup boosted their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group downgraded shares of Equitable from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $43.00 in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods lifted their price target on shares of Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company cut their price target on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.18.

Equitable Stock Performance

Equitable stock opened at $43.61 on Thursday. The company has a 50 day moving average price of $41.21 and a 200-day moving average price of $37.71. Equitable has a fifty-two week low of $24.65 and a fifty-two week high of $44.50. The company has a market capitalization of $14.18 billion, a PE ratio of 13.50 and a beta of 1.43.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.71 billion. The business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. On average, analysts forecast that Equitable will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the transaction, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Equitable by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after purchasing an additional 446,752 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Equitable by 3.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 18,804,685 shares of the company’s stock worth $714,766,000 after purchasing an additional 637,916 shares during the last quarter. Norges Bank acquired a new stake in Equitable in the 4th quarter valued at about $606,630,000. Hsbc Holdings PLC raised its holdings in Equitable by 1,161.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after acquiring an additional 7,227,568 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Equitable by 0.3% in the 4th quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock valued at $207,553,000 after acquiring an additional 18,475 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

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.