JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Equitable (NYSE:EQH) Stock

Equitable (NYSE:EQH) had its target price raised by research analysts at JPMorgan Chase & Co. from $45.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 7.11% from the company’s current price.

Several other research firms also recently weighed in on EQH. Barclays lifted their target price on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company increased their price objective on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $54.00 to $58.00 in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Equitable Trading Up 0.1 %

Shares of NYSE EQH traded up $0.07 during trading hours on Tuesday, reaching $49.48. The stock had a trading volume of 697,712 shares, compared to its average volume of 1,870,280. The business’s fifty day moving average price is $47.23 and its two-hundred day moving average price is $43.65. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of -45.39 and a beta of 1.39. Equitable has a 52-week low of $31.76 and a 52-week high of $50.51. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63.

Equitable (NYSE:EQH) last announced its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. Equitable’s revenue was down 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. Analysts expect that Equitable will post 6.05 EPS for the current fiscal year.

Insider Transactions at Equitable

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 sale, the chief executive officer now owns 658,555 shares in the company, valued at approximately $29,239,842. This represents a 4.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.68, for a total value of $79,356.00. Following the transaction, the chief accounting officer now owns 17,677 shares in the company, valued at approximately $825,162.36. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,032 shares of company stock valued at $6,031,759 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equitable

Several large investors have recently modified their holdings of EQH. Zurich Insurance Group Ltd FI bought a new stake in Equitable during the 2nd quarter worth about $110,176,000. Samlyn Capital LLC bought a new position in Equitable during the second quarter worth $63,334,000. Nordea Investment Management AB raised its position in shares of Equitable by 700.3% in the fourth quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company’s stock valued at $74,126,000 after purchasing an additional 1,367,837 shares during the period. Federated Hermes Inc. boosted its stake in shares of Equitable by 1,095.9% in the second quarter. Federated Hermes Inc. now owns 600,662 shares of the company’s stock valued at $24,543,000 after buying an additional 550,436 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Equitable by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock worth $166,855,000 after acquiring an additional 539,904 shares during the period. 92.70% of the stock is currently owned by institutional investors.

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.