Equitable (NYSE:EQH) Price Target Cut to $36.00

Equitable (NYSE:EQHGet Rating) had its target price cut by equities research analysts at Wells Fargo & Company from $39.00 to $36.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 21.50% from the stock’s previous close.

Several other equities research analysts have also commented on EQH. Jefferies Financial Group lowered shares of Equitable from a “buy” rating to a “hold” rating and decreased their price objective for the company from $36.00 to $34.00 in a research note on Friday, December 9th. Royal Bank of Canada lowered shares of Equitable from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $34.00 to $33.00 in a research note on Tuesday, December 6th. Citigroup raised their price target on shares of Equitable from $37.00 to $38.00 in a research note on Wednesday, November 16th. Truist Financial decreased their price target on shares of Equitable from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Finally, Morgan Stanley raised their price target on shares of Equitable from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

Equitable Stock Performance

NYSE:EQH opened at $29.63 on Wednesday. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 4.14 and a beta of 1.43. Equitable has a 52 week low of $24.61 and a 52 week high of $37.13. The firm has a 50-day moving average price of $30.04 and a two-hundred day moving average price of $29.11.

Equitable (NYSE:EQHGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.21 billion. As a group, sell-side analysts forecast that Equitable will post 5.28 earnings per share for the current year.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $30.19, for a total value of $905,700.00. Following the completion of the transaction, the chief executive officer now directly owns 425,307 shares of the company’s stock, valued at approximately $12,840,018.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. American International Group Inc. boosted its holdings in Equitable by 9.3% in the 2nd quarter. American International Group Inc. now owns 4,007 shares of the company’s stock valued at $104,000 after purchasing an additional 342 shares during the period. CWM LLC lifted its holdings in shares of Equitable by 29.6% during the 3rd quarter. CWM LLC now owns 1,501 shares of the company’s stock worth $40,000 after acquiring an additional 343 shares during the last quarter. Ethic Inc. lifted its holdings in shares of Equitable by 3.9% during the 1st quarter. Ethic Inc. now owns 10,458 shares of the company’s stock worth $323,000 after acquiring an additional 396 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Equitable by 4.2% during the 2nd quarter. US Bancorp DE now owns 10,730 shares of the company’s stock worth $279,000 after acquiring an additional 437 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Equitable by 3.8% during the 3rd quarter. M&T Bank Corp now owns 14,184 shares of the company’s stock worth $372,000 after acquiring an additional 514 shares during the last quarter. 93.17% of the stock is owned by institutional investors.

About Equitable

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Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.

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Analyst Recommendations for Equitable (NYSE:EQH)

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