Equitable (NYSE:EQH) Given New $43.00 Price Target at Wells Fargo & Company

Equitable (NYSE:EQH) had its price objective cut by Wells Fargo & Company from $45.00 to $43.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on EQH. Jefferies Financial Group raised their price objective on Equitable from $46.00 to $51.00 and gave the stock a buy rating in a report on Friday, June 28th. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $43.00 to $44.00 and gave the company a market perform rating in a research note on Monday, July 8th. Truist Financial raised their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Morgan Stanley upped their price target on shares of Equitable from $44.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equitable from $36.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Four 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 stock currently has an average rating of Moderate Buy and an average target price of $44.09.

Equitable Price Performance

NYSE EQH opened at $39.97 on Monday. The business has a 50 day moving average price of $40.82 and a 200 day moving average price of $38.17. The company has a market capitalization of $13.00 billion, a P/E ratio of 12.37 and a beta of 1.43. Equitable has a 1-year low of $24.65 and a 1-year high of $44.50.

Equitable (NYSE:EQH) last announced its quarterly earnings results 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 firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business earned $1.17 EPS. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, research analysts expect that Equitable will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Tuesday, August 6th. Equitable’s 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 sale, the chief operating officer now directly owns 111,552 shares in the company, valued at approximately $4,806,775.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New Covenant Trust Company N.A. acquired a new position in Equitable in the 1st quarter worth $28,000. Lindbrook Capital LLC lifted its stake in shares of Equitable by 143.1% in the fourth 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. LRI Investments LLC purchased a new position in Equitable in the first quarter valued at about $45,000. GAMMA Investing LLC acquired a new stake in Equitable during the 4th quarter valued at approximately $50,000. Finally, Rise Advisors LLC increased its holdings in Equitable by 1,421.4% during the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after purchasing an additional 1,592 shares during the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

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.