Equitable (NYSE:EQH – Free Report) had its price target hoisted by Barclays from $60.00 to $61.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.
EQH has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Wells Fargo & Company increased their target price on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and an average target price of $51.00.
Get Our Latest Research Report on EQH
Equitable Price Performance
Equitable (NYSE:EQH – Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.53. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. Research analysts expect that Equitable will post 6.05 EPS for the current fiscal year.
Equitable Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, November 26th. Equitable’s dividend payout ratio is presently -88.07%.
Insider Buying and Selling at Equitable
In related news, CEO Mark Pearson sold 30,000 shares of the 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 sale, the chief executive officer now directly owns 658,555 shares of the company’s stock, valued at $29,239,842. This represents a 4.36 % decrease in their position. The transaction 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 stock in a transaction that occurred on 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 sale, the insider now owns 141,629 shares in the company, valued at approximately $6,492,273.36. The trade was a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,032 shares of company stock worth $6,031,759 over the last 90 days. 1.10% of the stock is owned by insiders.
Institutional Trading of Equitable
Several institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in Equitable by 195.6% in the 4th quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock worth $25,000 after buying an additional 352 shares during the period. 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 worth $27,000 after acquiring an additional 246 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in shares of Equitable during the third quarter worth approximately $48,000. UMB Bank n.a. raised its stake in shares of Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after acquiring an additional 718 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Equitable by 623.5% in the second quarter. Quarry LP now owns 2,366 shares of the company’s stock valued at $97,000 after purchasing an additional 2,039 shares during the period. 92.70% of the stock is currently 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.
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