Truist Financial Raises Equitable (NYSE:EQH) Price Target to $44.00

Equitable (NYSE:EQH) had its target price lifted by Truist Financial from $40.00 to $44.00 in a report released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company lifted their price objective on Equitable from $43.00 to $46.00 and gave the company an overweight rating in a research report on Thursday, April 11th. UBS Group upped their price target on Equitable from $34.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods raised their price objective on Equitable from $39.00 to $41.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. downgraded shares of Equitable from an overweight rating to a neutral rating and upped their target price for the stock from $35.00 to $36.00 in a research report on Wednesday, January 3rd. Finally, Evercore ISI boosted their price objective on shares of Equitable from $42.00 to $46.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $40.10.

Equitable Stock Up 0.8 %

Shares of EQH stock opened at $38.54 on Thursday. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 11.93 and a beta of 1.40. The stock has a fifty day moving average of $36.26 and a 200 day moving average of $33.03. Equitable has a 52 week low of $21.89 and a 52 week high of $39.11.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, April 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $3.59 billion. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities research analysts anticipate that Equitable will post 6.06 earnings per share for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 26th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.88 annualized dividend and a yield of 2.28%. Equitable’s dividend payout ratio is 27.24%.

Insider Transactions at Equitable

In related news, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the completion of the sale, the insider now directly owns 88,660 shares in the company, valued at approximately $3,374,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total value of $5,803,122.38. Following the completion of the sale, the insider now owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles G.T. Stonehill sold 5,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $34.02, for a total value of $170,100.00. Following the transaction, the director now directly owns 29,758 shares in the company, valued at $1,012,367.16. The disclosure for this sale can be found here. Insiders sold 334,380 shares of company stock worth $12,198,971 over the last quarter. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equitable

Institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its position in Equitable by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock worth $2,949,000 after acquiring an additional 329 shares during the period. TCW Group Inc. increased its stake in shares of Equitable by 0.5% in the 4th quarter. TCW Group Inc. now owns 71,986 shares of the company’s stock worth $2,397,000 after purchasing an additional 371 shares in the last quarter. GAMMA Investing LLC raised its holdings in Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after purchasing an additional 405 shares during the period. Teacher Retirement System of Texas lifted its position in Equitable by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 27,566 shares of the company’s stock valued at $783,000 after purchasing an additional 418 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in Equitable by 4.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,097 shares of the company’s stock valued at $498,000 after purchasing an additional 528 shares during the period. Institutional investors own 92.70% of the company’s stock.

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.