Equitable (NYSE:EQH) Given New $47.00 Price Target at Wells Fargo & Company

Equitable (NYSE:EQH) had its price target lifted by stock analysts at Wells Fargo & Company from $43.00 to $47.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.06% from the company’s previous close.

Several other research analysts have also recently issued reports on EQH. UBS Group cut Equitable from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. Citigroup increased their price target on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Truist Financial boosted their price objective on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays increased their target price on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley decreased their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

Equitable Stock Up 2.0 %

Shares of NYSE:EQH opened at $43.90 on Thursday. Equitable has a fifty-two week low of $24.65 and a fifty-two week high of $44.50. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. The firm’s 50-day simple moving average is $40.93 and its 200-day simple moving average is $40.23. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 18.29 and a beta of 1.41.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, equities research analysts predict that Equitable will post 6.03 earnings per share for the current year.

Insider Activity at Equitable

In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO William James Iv Eckert sold 3,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the completion of the sale, the chief executive officer now directly owns 668,555 shares in the company, valued at $27,263,672.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,469 shares of company stock valued at $3,067,434. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Equitable

Institutional investors and hedge funds have recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in Equitable during the first quarter valued at about $28,000. LRI Investments LLC acquired a new stake in Equitable during the 1st quarter worth approximately $45,000. Rise Advisors LLC raised its holdings in Equitable by 1,421.4% in the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares during the period. UMB Bank n.a. lifted its position in 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 buying an additional 718 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after buying an additional 405 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

About Equitable

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.