Equitable (NYSE:EQH) Given New $65.00 Price Target at JPMorgan Chase & Co.

Equitable (NYSE:EQH) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $55.00 to $65.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.15% from the company’s previous close.

EQH has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Equitable from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Morgan Stanley upped their target price on shares of Equitable from $58.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. UBS Group reduced their target price on shares of Equitable from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods upped their target price on shares of Equitable from $61.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Evercore ISI reduced their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.55.

Equitable Price Performance

Shares of Equitable stock traded up $0.33 during trading on Tuesday, hitting $55.02. 834,968 shares of the company’s stock traded hands, compared to its average volume of 2,808,505. The company has a market cap of $16.72 billion, a PE ratio of 14.95 and a beta of 1.15. Equitable has a twelve month low of $36.46 and a twelve month high of $56.61. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.10 and a quick ratio of 0.10. The firm’s fifty day moving average price is $53.17 and its 200 day moving average price is $51.66.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.14). The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.05 billion. Equitable had a net margin of 8.50% and a return on equity of 79.05%. Equitable’s quarterly revenue was up 105.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. Analysts forecast that Equitable will post 7.33 earnings per share for the current year.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the transaction, the chief executive officer owned 724,367 shares of the company’s stock, valued at approximately $38,521,837.06. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nick Lane sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.91, for a total transaction of $264,550.00. Following the completion of the transaction, the insider directly owned 139,073 shares of the company’s stock, valued at approximately $7,358,352.43. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,332 shares of company stock worth $5,993,760 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Equitable in the 4th quarter worth about $668,250,000. Wellington Management Group LLP raised its stake in Equitable by 59.9% in the 4th quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company’s stock worth $415,899,000 after purchasing an additional 3,303,449 shares in the last quarter. Boston Partners acquired a new stake in Equitable in the 1st quarter worth about $108,264,000. Allspring Global Investments Holdings LLC raised its stake in Equitable by 5,536.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company’s stock worth $110,286,000 after purchasing an additional 2,071,691 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Equitable in the 1st quarter worth about $99,319,000. Institutional investors own 92.70% of the company’s stock.

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.