Equitable (NYSE:EQH) Given New $44.00 Price Target at Truist Financial

Equitable (NYSE:EQH) had its price target increased by Truist Financial from $40.00 to $44.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on EQH. Keefe, Bruyette & Woods increased their target price on shares of Equitable from $39.00 to $41.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price objective on Equitable from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lowered Equitable from an overweight rating to a neutral rating and upped their target price for the company from $35.00 to $36.00 in a research report on Wednesday, January 3rd. UBS Group increased their price target on Equitable from $34.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Finally, Evercore ISI boosted their price target on Equitable from $42.00 to $46.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $40.10.

Equitable Trading Up 0.8 %

Shares of NYSE:EQH traded up $0.29 on Thursday, reaching $38.54. The company had a trading volume of 2,657,433 shares, compared to its average volume of 2,581,093. The firm has a market capitalization of $12.63 billion, a PE ratio of 11.93 and a beta of 1.40. Equitable has a 52-week low of $21.89 and a 52-week high of $39.11. The firm’s 50 day simple moving average is $36.26 and its 200-day simple moving average is $32.97.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.12. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.59 billion. Equitable’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. As a group, equities research analysts predict that Equitable will post 6.01 earnings per share for the current year.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 26th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. Equitable’s dividend payout ratio is presently 27.24%.

Insiders Place Their Bets

In other news, Director Bertram L. Scott sold 7,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $35.29, for a total value of $247,030.00. Following the completion of the transaction, the director now owns 20,902 shares of the company’s stock, valued at approximately $737,631.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Mark Pearson sold 60,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $33.77, for a total transaction of $2,026,200.00. Following the sale, the chief executive officer now owns 703,254 shares in the company, valued at $23,748,887.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bertram L. Scott sold 7,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $35.29, for a total transaction of $247,030.00. Following the completion of the transaction, the director now owns 20,902 shares of the company’s stock, valued at approximately $737,631.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 334,380 shares of company stock valued at $12,198,971. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

Several institutional investors and hedge funds have recently modified their holdings of EQH. Lindbrook Capital LLC increased its stake in shares of Equitable by 143.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after purchasing an additional 591 shares in the last quarter. Blue Trust Inc. increased its position in shares of Equitable by 126.2% during the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock worth $42,000 after purchasing an additional 704 shares in the last quarter. GAMMA Investing LLC acquired a new position in Equitable in the 4th quarter valued at $50,000. Harvest Fund Management Co. Ltd purchased a new position in Equitable in the 4th quarter valued at $64,000. Finally, Rise Advisors LLC boosted its stake in Equitable by 1,421.4% during the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after purchasing an additional 1,592 shares during the last quarter. 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.