Equitable (NYSE:EQH) Posts Earnings Results

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

Equitable Stock Performance

EQH traded down $0.46 during trading hours on Tuesday, hitting $44.54. The stock had a trading volume of 1,177,491 shares, compared to its average volume of 2,475,577. Equitable has a 1 year low of $25.88 and a 1 year high of $46.48. The company’s fifty day simple moving average is $42.81 and its 200 day simple moving average is $41.20. The stock has a market cap of $14.12 billion, a PE ratio of 18.57 and a beta of 1.40. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EQH shares. Keefe, Bruyette & Woods raised their target price on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Wells Fargo & Company increased their target price on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley cut their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. 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 research report on Thursday, August 1st. Finally, Citigroup increased their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

Insider Buying and Selling at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at $27,263,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the sale, the chief accounting officer now directly owns 19,321 shares in the company, valued at $819,596.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the completion of the transaction, the chief executive officer now owns 668,555 shares of the company’s stock, valued at $27,263,672.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,500 shares of company stock valued at $3,969,870 over the last three months. 1.10% of the stock is currently owned by insiders.

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.