Barclays Raises Equitable (NYSE:EQH) Price Target to $60.00

11 Oct 2024, 05:40 by Jessica Moore · The Cerbat Gem

Equitable (NYSE:EQH – Free Report) had its target price boosted by Barclays from $59.00 to $60.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also recently commented on EQH. Truist Financial lifted their price objective on shares of Equitable from $44.00 to $52.00 and gave the stock a buy rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Equitable from $36.00 to $45.00 and gave the company a neutral rating in a research note on Tuesday, July 2nd. Citigroup increased their price target on shares of Equitable from $41.00 to $53.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Wells Fargo & Company reduced their price objective on Equitable from $45.00 to $43.00 and set an overweight rating for the company in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods increased their target price on Equitable from $43.00 to $44.00 and gave the stock a market perform rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and seven have given 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 a consensus price target of $48.70.

View Our Latest Research Report on EQH

Equitable Stock Up 0.1 %

Equitable stock opened at $43.06 on Tuesday. Equitable has a fifty-two week low of $24.65 and a fifty-two week high of $44.50. The firm has a market capitalization of $14.01 billion, a PE ratio of 13.33 and a beta of 1.41. The company’s 50-day moving average is $40.83 and its 200-day moving average is $40.19. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12.

Equitable (NYSE:EQH – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. Sell-side analysts anticipate that Equitable will post 6.01 earnings per share for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. Equitable’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the completion of the transaction, the chief executive officer now owns 678,555 shares of the company’s stock, valued at $28,635,021. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the transaction, the chief executive officer now owns 678,555 shares in the company, valued at approximately $28,635,021. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 73,469 shares of company stock valued at $3,067,434 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equitable

Institutional investors and hedge funds have recently made changes to their positions in the stock. New Covenant Trust Company N.A. acquired a new stake in Equitable during the 1st quarter valued at approximately $28,000. LRI Investments LLC acquired a new stake in shares of Equitable during the first quarter worth $45,000. UMB Bank n.a. raised its stake in Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after buying an additional 718 shares during the last quarter. Rise Advisors LLC lifted its holdings in Equitable by 1,421.4% in the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares during the period. Finally, GAMMA Investing LLC boosted its position in Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after acquiring an additional 405 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Company Profile

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