UBS Group Upgrades Equitable (NYSE:EQH) to “Buy”

UBS Group upgraded shares of Equitable (NYSE:EQH) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $77.00 price target on the stock, up from their prior price target of $49.00.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. BMO Capital Markets boosted their price objective on Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Barclays lifted their price target on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial upped their price objective on shares of Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equitable from a “hold” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $58.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $60.75.

Equitable Stock Performance

EQH stock opened at $45.00 on Wednesday. The firm has a market cap of $13.81 billion, a PE ratio of 11.78 and a beta of 1.23. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. The stock has a 50-day moving average price of $52.83 and a 200-day moving average price of $48.73. Equitable has a 1-year low of $35.49 and a 1-year high of $56.00.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, equities research analysts expect that Equitable will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Wednesday, March 5th. Equitable’s payout ratio is 25.13%.

Insider Buying and Selling

In related news, insider Nick Lane sold 25,000 shares of Equitable stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,291,250.00. Following the completion of the transaction, the insider now directly owns 121,629 shares in the company, valued at approximately $6,282,137.85. The trade was a 17.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.16, for a total value of $1,534,800.00. Following the completion of the transaction, the chief executive officer now directly owns 753,206 shares of the company’s stock, valued at $38,534,018.96. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,332 shares of company stock valued at $5,364,610. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equitable

A number of large investors have recently modified their holdings of EQH. Versant Capital Management Inc increased its stake in Equitable by 195.6% in the 4th quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock worth $25,000 after acquiring an additional 352 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Equitable by 111.2% in the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company’s stock worth $32,000 after purchasing an additional 357 shares during the last quarter. Assetmark Inc. raised its stake in Equitable by 33.2% in the fourth quarter. Assetmark Inc. now owns 799 shares of the company’s stock valued at $38,000 after purchasing an additional 199 shares in the last quarter. Mizuho Bank Ltd. lifted its position in Equitable by 61.4% during the fourth quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company’s stock valued at $53,000 after purchasing an additional 430 shares during the last quarter. Finally, McIlrath & Eck LLC grew its stake in Equitable by 154.3% in the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company’s stock worth $65,000 after buying an additional 841 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

About Equitable

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.