Equitable (NYSE:EQH) Hits New 1-Year High – Here’s What Happened

Shares of Equitable Holdings, Inc. (NYSE:EQH) hit a new 52-week high during trading on Wednesday . The stock traded as high as $46.48 and last traded at $46.17, with a volume of 262974 shares trading hands. The stock had previously closed at $45.81.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays increased their target price on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Citigroup boosted their price target on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Finally, Truist Financial boosted their target price on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Equitable Stock Down 1.9 %

The firm’s 50-day moving average is $42.58 and its two-hundred day moving average is $40.97. 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 cap of $14.36 billion, a P/E ratio of 18.89 and a beta of 1.41.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 earnings per share. On average, equities research analysts anticipate that Equitable Holdings, Inc. will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the sale, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 approximately $819,596.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,500 shares of company stock valued at $3,969,870. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Equitable

A number of hedge funds have recently modified their holdings of the company. &PARTNERS increased its stake in Equitable by 0.7% in the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock valued at $1,403,000 after purchasing an additional 254 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in shares of 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 period. Allspring Global Investments Holdings LLC increased its position 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 in the last quarter. US Bancorp DE raised its stake in 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. Finally, Capital Insight Partners LLC lifted its holdings in Equitable by 2.6% during the second quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock worth $720,000 after acquiring an additional 440 shares in the last quarter. 92.70% of the stock is currently 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.