Equitable (NYSE:EQH) Releases Earnings Results, Hits Expectations

Equitable (NYSE:EQH - Get Free Report) released its quarterly earnings results on Monday. The company reported $1.53 earnings per share for the quarter, hitting analysts' consensus estimates of $1.53, Zacks reports. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The company had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. Equitable's quarterly revenue was down 15.1% compared to the same quarter last year.

Equitable Stock Performance

Shares of EQH traded down $0.51 during mid-day trading on Tuesday, reaching $44.49. 4,627,117 shares of the company's stock traded hands, compared to its average volume of 2,491,696. Equitable has a 12 month low of $25.88 and a 12 month high of $46.48. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $14.10 billion, a P/E ratio of 18.57 and a beta of 1.40. The business's 50-day moving average price is $42.81 and its 200-day moving average price is $41.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EQH shares. Morgan Stanley dropped their price target on Equitable from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, August 19th. Barclays lifted their target price on Equitable from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Equitable from $43.00 to $44.00 and gave the stock a "market perform" rating in a report on Monday, July 8th. Truist Financial lifted their price target on Equitable from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their target price on Equitable from $43.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.70.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the transaction, the chief executive officer now owns 668,555 shares of the company's stock, valued at approximately $27,263,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 value of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the transaction, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,500 shares of company stock worth $3,969,870 over the last quarter. 1.10% of the stock is currently owned by company insiders.

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.