Wells Fargo & Company Issues Positive Forecast for Equitable (NYSE:EQH) Stock Price

by · The Markets Daily

Equitable (NYSE:EQH – Free Report) had its target price lifted by Wells Fargo & Company from $64.00 to $65.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

EQH has been the topic of a number of other research reports. Jefferies Financial Group raised their price target on shares of Equitable from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $62.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. UBS Group increased their target price on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Wolfe Research cut Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.18.

Check Out Our Latest Stock Report on Equitable

Equitable Stock Up 0.9%

Shares of Equitable stock opened at $53.41 on Monday. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. Equitable has a 52-week low of $35.19 and a 52-week high of $55.22. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of -16.14, a P/E/G ratio of 0.52 and a beta of 1.10. The company’s 50 day moving average price is $51.98 and its 200-day moving average price is $46.21.

Equitable (NYSE:EQH – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.65 by $0.05. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The firm’s revenue for the quarter was down 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 earnings per share. Equities research analysts forecast that Equitable will post 7.20 EPS for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.2%. Equitable’s dividend payout ratio (DPR) is -36.25%.

Insider Buying and Selling at Equitable

In other Equitable news, insider Nick Lane sold 14,923 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $53.24, for a total transaction of $794,500.52. Following the transaction, the insider owned 110,007 shares in the company, valued at approximately $5,856,772.68. This represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig MacKay sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $54.27, for a total value of $108,540.00. Following the transaction, the director owned 16,999 shares in the company, valued at $922,535.73. This trade represents a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 72,516 shares of company stock worth $3,658,629. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Equitable

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in Equitable by 64.1% in the first quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock worth $33,000 after buying an additional 347 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Equitable during the second quarter valued at approximately $33,000. Essential Partners LLC grew its holdings in shares of Equitable by 245.2% during the first 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 last quarter. Allworth Financial LP purchased a new stake in shares of Equitable during the second quarter valued at approximately $55,000. Finally, CX Institutional increased its position in shares of Equitable by 30.2% during the second quarter. CX Institutional now owns 1,282 shares of the company’s stock valued at $56,000 after acquiring an additional 297 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

About Equitable

(Get Free Report)

Equitable Holdings, Inc is a financial services company that provides retirement, protection and investment management solutions to individuals, businesses and institutions. Its businesses operate primarily in the United States and serve clients through financial professionals, employer-sponsored retirement plans and institutional relationships.

Through its Equitable business, the company offers life insurance, annuities, individual retirement products and employee benefits. Its offerings are designed to help customers accumulate and protect assets, generate retirement income and address long-term financial planning needs.

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