Equitable (NYSE:EQH) Price Target Lowered to $62.00 at Wells Fargo & Company

Equitable (NYSE:EQH) had its target price lowered by Wells Fargo & Company from $65.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Wolfe Research raised shares of Equitable to a “strong-buy” rating in a research report on Tuesday, September 16th. Barclays restated an “overweight” rating and set a $63.00 target price on shares of Equitable in a report on Wednesday, October 8th. Evercore ISI increased their price target on Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Equitable in a research report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.18.

Equitable Trading Up 0.9%

Equitable stock traded up $0.41 during trading on Friday, reaching $45.28. The company had a trading volume of 3,037,017 shares, compared to its average volume of 2,857,425. Equitable has a 12-month low of $41.39 and a 12-month high of $56.61. The stock’s 50 day moving average price is $50.58 and its two-hundred day moving average price is $51.99. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of -16.41 and a beta of 1.17. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.14 and a current ratio of 0.10.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.The business’s revenue for the quarter was down 52.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share. As a group, equities analysts expect that Equitable will post 7.33 earnings per share for the current fiscal year.

Insider Transactions at Equitable

In other Equitable news, CFO Robin M. Raju sold 36,888 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $54.00, for a total transaction of $1,991,952.00. Following the sale, the chief financial officer owned 140,258 shares in the company, valued at $7,573,932. This represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $48.17, for a total value of $1,912,349.00. Following the completion of the transaction, the chief executive officer owned 689,040 shares of the company’s stock, valued at approximately $33,191,056.80. The trade was a 5.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 178,958 shares of company stock worth $9,362,262. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equitable

Several institutional investors and hedge funds have recently bought and sold shares of the business. Groupe la Francaise boosted its stake in Equitable by 8.2% in the second quarter. Groupe la Francaise now owns 2,949 shares of the company’s stock valued at $165,000 after acquiring an additional 223 shares during the period. BSW Wealth Partners lifted its holdings in shares of Equitable by 5.9% in the 2nd quarter. BSW Wealth Partners now owns 4,259 shares of the company’s stock worth $239,000 after purchasing an additional 238 shares during the last quarter. ProShare Advisors LLC boosted its position in Equitable by 2.1% during the 2nd quarter. ProShare Advisors LLC now owns 13,473 shares of the company’s stock valued at $756,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB boosted its position in Equitable by 11.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,634 shares of the company’s stock valued at $134,000 after purchasing an additional 275 shares during the period. Finally, UMB Bank n.a. increased its position in Equitable by 6.6% in the second quarter. UMB Bank n.a. now owns 4,510 shares of the company’s stock worth $253,000 after buying an additional 281 shares during the period. 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.