Equitable (NYSE:EQH) Given New $53.00 Price Target at Wells Fargo & Company

Equitable (NYSE:EQH - Free Report) had its target price cut by Wells Fargo & Company from $54.00 to $53.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a "hold" rating to a "buy" rating and boosted their price target for the company from $47.00 to $58.00 in a report on Friday. JPMorgan Chase & Co. raised their price target on Equitable from $45.00 to $53.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Barclays increased their target price on Equitable from $60.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods upgraded shares of Equitable from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

Equitable Trading Up 1.8 %

NYSE EQH traded up $0.88 during trading hours on Tuesday, hitting $49.90. The company's stock had a trading volume of 2,856,666 shares, compared to its average volume of 2,538,708. Equitable has a twelve month low of $31.76 and a twelve month high of $50.51. The firm has a market capitalization of $15.64 billion, a P/E ratio of -45.78 and a beta of 1.39. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average of $47.57 and a 200 day moving average of $43.93.

Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting analysts' consensus estimates of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. The firm's quarterly revenue was down 15.1% compared to the same quarter last year. Equities research analysts forecast that Equitable will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 1.92%. Equitable's dividend payout ratio (DPR) is presently -88.07%.

Insiders Place Their Bets

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the transaction, the chief operating officer now directly owns 105,246 shares of the company's stock, valued at $5,002,342.38. This represents a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William James Iv Eckert sold 1,700 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the sale, the chief accounting officer now owns 17,677 shares of the company's stock, valued at approximately $825,162.36. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,032 shares of company stock valued at $4,699,759 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Equitable

Several hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Equitable by 195.6% during the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company's stock worth $25,000 after purchasing an additional 352 shares during the period. Covestor Ltd increased its stake in Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 246 shares during the period. Carolina Wealth Advisors LLC acquired a new position in Equitable in the 3rd quarter valued at $48,000. UMB Bank n.a. raised its holdings in Equitable by 86.3% in the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company's stock valued at $65,000 after acquiring an additional 718 shares in the last quarter. Finally, Quarry LP lifted its position in shares of 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 acquiring an additional 2,039 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

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.