Equitable (NYSE:EQH) Reaches New 1-Year High – Time to Buy?

Equitable Holdings, Inc. (NYSE:EQH)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $47.90 and last traded at $47.65, with a volume of 16727 shares changing hands. The stock had previously closed at $44.49.

Wall Street Analyst Weigh In

EQH has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company raised their target price on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays increased their price objective on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Truist Financial upped their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup upped their price target on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

Equitable Trading Up 12.4 %

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 company has a 50-day moving average price of $42.86 and a 200-day moving average price of $41.26. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of -40.82 and a beta of 1.40.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the business earned $1.15 earnings per share. Equitable’s revenue for the quarter was down 15.1% compared to the same quarter last year. Research analysts predict that Equitable Holdings, Inc. will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the sale, the chief executive officer now owns 658,555 shares of the company’s stock, valued at approximately $29,239,842. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the completion of the transaction, the chief executive officer now directly owns 658,555 shares of the company’s stock, valued at $29,239,842. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This trade represents 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. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Equitable

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its stake in shares of Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 246 shares in the last quarter. &PARTNERS raised its stake in Equitable by 0.7% in the 2nd quarter. &PARTNERS now owns 34,328 shares of the company’s stock valued at $1,403,000 after acquiring an additional 254 shares during the period. iA Global Asset Management Inc. lifted its holdings in Equitable by 4.8% during the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock valued at $233,000 after purchasing an additional 280 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Equitable by 5.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock valued at $288,000 after buying an additional 332 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Equitable by 4.4% in the 1st quarter. US Bancorp DE now owns 10,068 shares of the company’s stock valued at $383,000 after buying an additional 423 shares in the last quarter. Institutional investors and hedge funds 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.