Equitable (NYSE:EQH) Posts Quarterly Earnings Results, Hits Expectations

Equitable (NYSE:EQH) issued its quarterly earnings data on Monday. The company reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates of $1.53, Zacks reports. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis.

Equitable Price Performance

Shares of EQH stock traded down $0.60 during mid-day trading on Tuesday, reaching $44.40. The company’s stock had a trading volume of 1,412,830 shares, compared to its average volume of 2,476,676. The firm’s 50-day moving average is $42.81 and its two-hundred day moving average is $41.20. The company has a market cap of $14.07 billion, a P/E ratio of 18.57 and a beta of 1.40. Equitable has a 1-year low of $25.88 and a 1-year high of $46.48. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12.

Analyst Upgrades and Downgrades

Several brokerages have commented on EQH. Keefe, Bruyette & Woods increased their price target on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Truist Financial lifted their target price 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 upped their price target on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Insider Activity

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares in the company, valued at $28,635,021. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the sale, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at $28,635,021. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the sale, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,500 shares of company stock worth $3,969,870. Corporate insiders own 1.10% 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.