Equitable (NYSE:EQH) Sets New 1-Year High - Here's Why

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $46.17 and last traded at $46.04, with a volume of 700814 shares. The stock had previously closed at $45.85.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQH. Keefe, Bruyette & Woods boosted their price target on Equitable from $43.00 to $44.00 and gave the company a "market perform" rating in a research note on Monday, July 8th. Truist Financial raised their price target on shares of Equitable from $44.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Citigroup increased their target price on shares of Equitable from $41.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Barclays boosted their price target on Equitable from $59.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on Equitable from $36.00 to $45.00 and gave the company a "neutral" rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $48.70.

Equitable Trading Up 0.4 %

The company has a market capitalization of $14.98 billion, a P/E ratio of 14.20 and a beta of 1.41. The company has a 50-day simple moving average of $41.79 and a 200 day simple moving average of $40.58. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.03. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. Equitable's revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Sell-side analysts expect that Equitable Holdings, Inc. will post 6.03 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 annualized dividend and a yield of 2.08%. Equitable's dividend payout ratio is 29.72%.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the sale, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO William James Iv Eckert sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the sale, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total value of $1,332,000.00. Following the transaction, the chief executive officer now owns 658,555 shares of the company's stock, valued at $29,239,842. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,500 shares of company stock worth $3,969,870. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equitable

Several institutional investors have recently bought and sold shares of the business. &PARTNERS lifted its position in shares of Equitable by 0.7% during the second quarter. &PARTNERS now owns 34,328 shares of the company's stock worth $1,403,000 after purchasing an additional 254 shares in the last quarter. iA Global Asset Management Inc. boosted its position in Equitable by 4.8% in the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company's stock valued at $233,000 after buying an additional 280 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Equitable by 5.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company's stock valued at $288,000 after buying an additional 332 shares during the period. GAMMA Investing LLC raised its position in shares of Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company's stock worth $74,000 after acquiring an additional 405 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Equitable by 4.4% during the 1st quarter. US Bancorp DE now owns 10,068 shares of the company's stock worth $383,000 after buying an additional 423 shares during the period. Institutional investors 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.

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