Equitable (NYSE:EQH) Price Target Raised to $45.00

Equitable (NYSE:EQH) had its price target raised by JPMorgan Chase & Co. from $36.00 to $45.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group upped their price target on shares of Equitable from $46.00 to $51.00 and gave the company a buy rating in a research note on Friday, June 28th. Morgan Stanley increased their price target on shares of Equitable from $39.00 to $41.00 and gave the company an overweight rating in a report on Monday, April 15th. Wells Fargo & Company reduced their price objective on Equitable from $46.00 to $44.00 and set an overweight rating on the stock in a research note on Friday, May 10th. Truist Financial raised their price objective on Equitable from $40.00 to $44.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, Evercore ISI boosted their target price on Equitable from $42.00 to $46.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $41.90.

Equitable Stock Down 0.7 %

EQH opened at $41.06 on Tuesday. Equitable has a 52 week low of $24.65 and a 52 week high of $41.95. The firm has a 50-day simple moving average of $40.20 and a two-hundred day simple moving average of $36.54. The company has a market capitalization of $13.35 billion, a PE ratio of 12.71 and a beta of 1.43.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.12. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.59 billion. Equitable’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts expect that Equitable will post 6.12 earnings per share for the current year.

Equitable Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from Equitable’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.34%. Equitable’s dividend payout ratio is presently 29.72%.

Insider Activity at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $36.24, for a total value of $361,276.56. Following the transaction, the chief operating officer now directly owns 141,062 shares in the company, valued at approximately $5,112,086.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the completion of the sale, the insider now directly owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $36.24, for a total transaction of $361,276.56. Following the transaction, the chief operating officer now owns 141,062 shares in the company, valued at $5,112,086.88. The disclosure for this sale can be found here. Insiders sold 202,411 shares of company stock worth $7,646,571 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equitable

Several hedge funds have recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new position in Equitable in the first quarter worth approximately $28,000. Lindbrook Capital LLC raised its position in shares of Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after acquiring an additional 591 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Equitable by 126.2% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock worth $42,000 after purchasing an additional 704 shares during the last quarter. LRI Investments LLC bought a new stake in Equitable during the first quarter valued at about $45,000. Finally, GAMMA Investing LLC purchased a new position in Equitable in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors 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.