Equitable (NYSE:EQH) Price Target Cut to $58.00 by Analysts at JPMorgan Chase & Co.

Equitable (NYSE:EQH) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $60.00 to $58.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 33.83% from the company’s current price.

Other analysts have also issued reports about the stock. UBS Group reduced their price objective on shares of Equitable from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday. Evercore ISI upped their price target on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Raymond James Financial set a $60.00 price objective on Equitable in a report on Monday, January 5th. Mizuho set a $65.00 price target on Equitable in a research note on Wednesday, January 14th. Finally, Zacks Research cut shares of Equitable from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and a consensus price target of $62.23.

Equitable Stock Performance

Shares of NYSE:EQH traded down $1.46 during mid-day trading on Thursday, reaching $43.34. 5,014,925 shares of the company traded hands, compared to its average volume of 3,017,647. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.13 and a quick ratio of 0.13. Equitable has a 52 week low of $41.39 and a 52 week high of $56.61. The company’s 50 day moving average price is $47.16 and its 200-day moving average price is $49.26. The firm has a market cap of $12.42 billion, a PE ratio of -15.70, a PEG ratio of 0.34 and a beta of 1.12.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.11). Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the firm posted $1.58 EPS. Equitable’s quarterly revenue was down 52.8% compared to the same quarter last year. On average, equities analysts expect that Equitable will post 7.33 EPS for the current fiscal year.

Insider Activity at Equitable

In other news, insider Nick Lane sold 30,000 shares of Equitable stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $1,429,500.00. Following the transaction, the insider directly owned 99,958 shares of the company’s stock, valued at $4,762,998.70. The trade was a 23.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO William James Iv Eckert sold 4,300 shares of Equitable stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $47.27, for a total transaction of $203,261.00. Following the transaction, the chief accounting officer owned 15,625 shares in the company, valued at $738,593.75. The trade was a 21.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 203,770 shares of company stock worth $9,462,206. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. bought a new stake in Equitable during the third quarter worth approximately $26,000. True Wealth Design LLC raised its holdings in shares of Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after acquiring an additional 480 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Equitable during the 3rd quarter worth $36,000. Hilltop National Bank acquired a new stake in Equitable in the 3rd quarter worth approximately $37,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Equitable during the 3rd quarter worth about $38,000. 92.70% of the stock is owned by institutional investors.

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.