Mizuho Cuts Equitable (NYSE:EQH) Price Target to $66.00

Equitable (NYSE:EQH) had its target price dropped by investment analysts at Mizuho from $67.00 to $66.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 24.05% from the company’s previous close.

A number of other research firms also recently issued reports on EQH. Wells Fargo & Company boosted their target price on shares of Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Wolfe Research downgraded shares of Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Barclays upped their price objective on shares of Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore reissued an “outperform” rating and set a $66.00 price objective on shares of Equitable in a research report on Thursday, August 20th. Finally, Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.45.

Equitable Trading Down 2.4%

NYSE EQH traded down $1.29 on Wednesday, hitting $53.20. The company’s stock had a trading volume of 794,069 shares, compared to its average volume of 3,543,307. The company’s 50-day moving average is $51.58 and its 200 day moving average is $45.77. The firm has a market cap of $14.53 billion, a PE ratio of -16.02, a PEG ratio of 0.53 and a beta of 1.10. Equitable has a 1-year low of $35.19 and a 1-year high of $55.22. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75.

Equitable (NYSE:EQH) last announced its earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.65 by $0.05. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The firm’s revenue was down 29.8% on a year-over-year basis. As a group, analysts predict that Equitable will post 7.18 earnings per share for the current fiscal year.

Insider Activity at Equitable

In other Equitable news, CAO William Eckert, IV sold 947 shares of Equitable stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $52.88, for a total value of $50,077.36. Following the sale, the chief accounting officer owned 8,419 shares of the company’s stock, valued at approximately $445,196.72. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bertram Scott sold 2,780 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $54.35, for a total value of $151,093.00. Following the completion of the transaction, the director owned 23,685 shares in the company, valued at approximately $1,287,279.75. The trade was a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 72,516 shares of company stock worth $3,658,629. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equitable

A number of institutional investors and hedge funds have recently modified their holdings of EQH. Eleva Capital SAS bought a new stake in shares of Equitable in the 3rd quarter worth approximately $825,000. Tidal Investments LLC grew its holdings in shares of Equitable by 2.3% during the 2nd quarter. Tidal Investments LLC now owns 31,661 shares of the company’s stock valued at $1,389,000 after purchasing an additional 709 shares during the last quarter. Squarepoint Ops LLC raised its position in Equitable by 91.6% in the 2nd quarter. Squarepoint Ops LLC now owns 205,053 shares of the company’s stock worth $8,998,000 after purchasing an additional 98,023 shares during the period. Nykredit A S bought a new stake in Equitable in the second quarter worth $376,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Equitable during the second quarter valued at about $2,606,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Company Profile

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.