Equitable Holdings, Inc. (NYSE:EQH) Receives $61.82 Average PT from Analysts

Shares of Equitable Holdings, Inc. (NYSE:EQH) have been given an average rating of “Moderate Buy” by the fourteen analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $61.8182.

EQH has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Mizuho set a $68.00 price objective on Equitable in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on shares of Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Jefferies Financial Group lifted their target price on Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, July 10th.

Equitable Trading Up 0.0%

Shares of Equitable stock opened at $53.96 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. The company has a fifty day simple moving average of $50.66 and a 200-day simple moving average of $44.68. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of -16.30, a PEG ratio of 0.53 and a beta of 1.10. Equitable has a 12-month low of $35.19 and a 12-month high of $55.15.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business’s revenue was down 29.8% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share. On average, equities analysts forecast that Equitable will post 7.18 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. Equitable’s payout ratio is -36.25%.

Insiders Place Their Bets

In other news, Director Arlene Isaacs-Lowe sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $52.83, for a total value of $52,830.00. Following the sale, the director directly owned 19,763 shares of the company’s stock, valued at approximately $1,044,079.29. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig C. Mackay sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $54.27, for a total transaction of $108,540.00. Following the transaction, the director directly owned 16,999 shares of the company’s stock, valued at $922,535.73. This represents a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 72,516 shares of company stock worth $3,658,629 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its stake in shares of Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Equitable in the second quarter valued at about $33,000. Root Financial Partners LLC increased its stake in Equitable by 64.1% in the first quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock valued at $33,000 after purchasing an additional 347 shares in the last quarter. Essential Partners LLC grew its holdings in shares of Equitable by 245.2% in the 1st quarter. Essential Partners LLC now owns 1,084 shares of the company’s stock valued at $40,000 after buying an additional 770 shares during the period. Finally, Allworth Financial LP acquired a new stake in Equitable during the 2nd quarter worth $55,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Company Profile

Equitable Holdings, Inc is a financial services company that provides retirement, life insurance and wealth management solutions. Its businesses serve individuals, families, employers and institutions through financial professionals and advisory channels.

The company’s principal operations include Equitable, which offers individual life insurance, annuities, retirement plans and employee benefits, and Equitable Advisors, which provides financial planning and investment advice. Equitable Holdings also owns a majority interest in AllianceBernstein, a global investment management firm serving institutional and retail clients.

The company traces its history to 1859, when the Equitable Life Assurance Society of the United States was founded.