Equitable (NYSE:EQH) Given New $60.00 Price Target at Truist Financial

Equitable (NYSE:EQH) had its price target raised by equities researchers at Truist Financial from $52.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 11.73% from the company’s current price.

Several other research firms have also issued reports on EQH. Barclays increased their target price on shares of Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a “hold” rating to a “buy” rating and lifted their target price for the company from $47.00 to $58.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price target on Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. BMO Capital Markets started coverage on Equitable in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $54.00 to $58.00 in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.33.

Equitable Stock Performance

EQH opened at $53.70 on Monday. The company’s 50 day moving average is $49.51 and its 200 day moving average is $45.43. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 14.06 and a beta of 1.39. Equitable has a 12-month low of $32.72 and a 12-month high of $54.82.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. On average, equities research analysts predict that Equitable will post 7.24 EPS for the current year.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $47.31, for a total transaction of $315,368.46. Following the sale, the chief operating officer now directly owns 98,875 shares of the company’s stock, valued at $4,677,776.25. The trade was a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William James Iv Eckert sold 1,700 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at $825,162.36. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,032 shares of company stock worth $7,587,971. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

Several hedge funds and other institutional investors have recently made changes to their positions in EQH. Wealthfront Advisers LLC bought a new position in Equitable during the 4th quarter valued at about $566,000. Daiwa Securities Group Inc. grew its stake in shares of Equitable by 66.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 50,975 shares of the company’s stock valued at $2,404,000 after buying an additional 20,382 shares during the last quarter. Amundi grew its stake in shares of Equitable by 56.3% during the fourth quarter. Amundi now owns 2,659,691 shares of the company’s stock valued at $130,351,000 after buying an additional 957,828 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Equitable by 1.1% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 58,365 shares of the company’s stock worth $2,753,000 after buying an additional 663 shares during the period. Finally, Candriam S.C.A. boosted its holdings in Equitable by 66.1% during the 4th quarter. Candriam S.C.A. now owns 44,283 shares of the company’s stock valued at $2,089,000 after acquiring an additional 17,617 shares during the period. Hedge funds and other institutional investors 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.