Equitable (NYSE:EQH) Given New $61.00 Price Target at Barclays

Equitable (NYSE:EQH) had its price objective raised by investment analysts at Barclays from $60.00 to $61.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 24.03% from the company’s current price.

A number of other brokerages have also issued reports on EQH. Wells Fargo & Company boosted their target price on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods upgraded shares of Equitable from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $54.00 to $58.00 in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.00.

Equitable Price Performance

EQH stock opened at $49.18 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable has a 12 month low of $31.76 and a 12 month high of $50.51. The stock has a market cap of $15.41 billion, a PE ratio of -45.12 and a beta of 1.39. The company has a 50-day moving average price of $47.30 and a 200 day moving average price of $43.71.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. Equities research analysts anticipate that Equitable will post 6.05 earnings per share for the current year.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.68, for a total transaction 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 approximately $825,162.36. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nick Lane sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total transaction of $1,146,000.00. Following the completion of the sale, the insider now owns 141,629 shares in the company, valued at $6,492,273.36. This represents a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,032 shares of company stock worth $6,031,759 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Equitable

A number of institutional investors have recently made changes to their positions in EQH. Versant Capital Management Inc boosted its holdings in Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. Covestor Ltd raised its position in shares of Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in Equitable in the 3rd quarter worth approximately $48,000. UMB Bank n.a. grew its position in Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after purchasing an additional 718 shares during the last quarter. Finally, Quarry LP increased its stake in Equitable by 623.5% during the 2nd quarter. Quarry LP now owns 2,366 shares of the company’s stock valued at $97,000 after purchasing an additional 2,039 shares in the last quarter. Institutional investors and hedge funds 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.