Equitable (NYSE:EQH) Given New $52.00 Price Target at Truist Financial

Equitable (NYSE:EQH) had its price objective increased by Truist Financial from $44.00 to $52.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on EQH. Keefe, Bruyette & Woods upped their target price on Equitable from $43.00 to $44.00 and gave the company a market perform rating in a research report on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on Equitable from $36.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Jefferies Financial Group boosted their price target on Equitable from $46.00 to $51.00 and gave the company a buy rating in a report on Friday, June 28th. Morgan Stanley boosted their price target on Equitable from $44.00 to $46.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company decreased their price target on Equitable from $46.00 to $44.00 and set an overweight rating for the company in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $44.18.

Equitable Stock Performance

NYSE EQH traded down $2.78 during trading hours on Thursday, reaching $39.22. The stock had a trading volume of 789,027 shares, compared to its average volume of 2,638,770. The stock has a fifty day moving average of $41.27 and a 200 day moving average of $37.75. The stock has a market cap of $12.76 billion, a P/E ratio of 13.00 and a beta of 1.43. Equitable has a 52-week low of $24.65 and a 52-week high of $44.50.

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

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, August 6th. Equitable’s dividend payout ratio is currently 29.72%.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction on Monday, July 15th. The stock was 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 directly owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Equitable

Several large investors have recently added to or reduced their stakes in EQH. New Covenant Trust Company N.A. purchased a new stake in Equitable in the 1st quarter valued at $28,000. Lindbrook Capital LLC grew its holdings in Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after buying an additional 591 shares in the last quarter. Blue Trust Inc. grew its holdings 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 period. LRI Investments LLC purchased a new position in shares of Equitable during the 1st quarter worth $45,000. Finally, GAMMA Investing LLC purchased a new position in shares of Equitable during the 4th quarter worth $50,000. 92.70% of the stock is currently owned by hedge funds and other 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.