Equitable (NYSE:EQH) Price Target Lowered to $57.00 at Wells Fargo & Company

Equitable (NYSE:EQH) had its price target decreased by investment analysts at Wells Fargo & Company from $60.00 to $57.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 38.21% from the company’s current price.

Other analysts have also recently issued research reports about the company. Barclays lowered their price objective on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Equitable from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Equitable in a report on Monday, December 29th. Mizuho set a $65.00 target price on Equitable in a research report on Wednesday, January 14th. Finally, Raymond James Financial set a $60.00 price target on shares of Equitable in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and a consensus target price of $61.27.

Equitable Stock Up 0.3%

NYSE EQH traded up $0.13 during midday trading on Wednesday, hitting $41.24. 234,182 shares of the company traded hands, compared to its average volume of 2,989,918. Equitable has a 52 week low of $39.53 and a 52 week high of $56.61. The company’s 50-day simple moving average is $46.41 and its 200-day simple moving average is $48.52. The company has a market cap of $11.82 billion, a PE ratio of -8.57, a price-to-earnings-growth ratio of 0.31 and a beta of 1.12. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.10 and a quick ratio of 0.13.

Equitable declared that its board has authorized a share repurchase program on Wednesday, February 11th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $46.20, for a total value of $1,834,140.00. Following the completion of the sale, the chief executive officer owned 652,945 shares of the company’s stock, valued at approximately $30,166,059. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the transaction, the chief operating officer owned 55,023 shares in the company, valued at approximately $2,621,845.95. The trade was a 10.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,280 shares of company stock worth $7,455,677 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equitable

A number of hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Equitable in the 3rd quarter valued at approximately $26,000. True Wealth Design LLC grew its holdings in shares of Equitable by 592.6% during the 2nd quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 480 shares during the period. Covestor Ltd boosted its stake in Equitable by 124.7% during the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock worth $35,000 after buying an additional 404 shares during the period. Root Financial Partners LLC purchased a new position in shares of Equitable during the 3rd quarter worth approximately $36,000. Finally, Hilltop National Bank acquired a new stake in shares of Equitable in the third quarter valued at $37,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.