Equitable (NYSE:EQH) Price Target Lowered to $59.00 at Wells Fargo & Company

Equitable (NYSE:EQH) had its target price dropped by Wells Fargo & Company from $62.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 28.70% from the stock’s current price.

A number of other research firms also recently commented on EQH. BMO Capital Markets raised their target price on Equitable from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Truist Financial raised their price objective on shares of Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 10th. UBS Group upgraded shares of Equitable from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $77.00 in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a “hold” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $58.00 in a research note on Friday, January 10th. Finally, Barclays raised their price objective on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Equitable Stock Down 7.6 %

Equitable stock traded down $3.76 during trading on Thursday, reaching $45.84. The stock had a trading volume of 1,967,209 shares, compared to its average volume of 3,105,732. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Equitable has a 52-week low of $35.49 and a 52-week high of $56.00. The stock has a market cap of $14.07 billion, a PE ratio of 12.00 and a beta of 1.23. The business has a 50 day moving average price of $52.06 and a 200 day moving average price of $48.88.

Equitable (NYSE:EQH) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. On average, analysts predict that Equitable will post 7.33 EPS for the current year.

Insider Activity at Equitable

In other Equitable news, insider Nick Lane sold 25,000 shares of Equitable stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $51.65, for a total value of $1,291,250.00. Following the sale, the insider now owns 121,629 shares of the company’s stock, valued at approximately $6,282,137.85. The trade was a 17.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total value of $364,296.90. Following the transaction, the chief operating officer now directly owns 92,209 shares of the company’s stock, valued at approximately $5,039,221.85. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,332 shares of company stock worth $5,364,610 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

Several institutional investors have recently made changes to their positions in the stock. Unigestion Holding SA boosted its holdings in Equitable by 69.0% during the first quarter. Unigestion Holding SA now owns 28,207 shares of the company’s stock worth $1,469,000 after buying an additional 11,513 shares in the last quarter. Merit Financial Group LLC purchased a new position in Equitable in the 1st quarter valued at approximately $338,000. NBC Securities Inc. boosted its position in Equitable by 113,245.5% during the first quarter. NBC Securities Inc. now owns 12,468 shares of the company’s stock worth $649,000 after purchasing an additional 12,457 shares in the last quarter. BTC Capital Management Inc. grew its holdings in Equitable by 20.4% in the first quarter. BTC Capital Management Inc. now owns 66,217 shares of the company’s stock valued at $3,449,000 after purchasing an additional 11,202 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Equitable by 6,323.6% in the first quarter. GAMMA Investing LLC now owns 540,225 shares of the company’s stock valued at $28,140,000 after buying an additional 531,815 shares in the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

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.