Equitable (NYSE:EQH) Price Target Cut to $61.00 by Analysts at Morgan Stanley

Equitable (NYSE:EQH) had its price objective trimmed by Morgan Stanley from $67.00 to $61.00 in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their price target on shares of Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Wolfe Research upgraded shares of Equitable to a “strong-buy” rating in a research report on Tuesday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Equitable from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Equitable in a research report on Saturday, September 27th. Finally, Wells Fargo & Company decreased their target price on shares of Equitable from $66.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Equitable Stock Up 0.0%

Shares of EQH opened at $50.96 on Tuesday. Equitable has a 52 week low of $41.39 and a 52 week high of $56.61. The firm has a market cap of $15.26 billion, a P/E ratio of 41.09 and a beta of 1.10. The firm’s 50-day simple moving average is $52.61 and its 200 day simple moving average is $52.11. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Equitable’s dividend payout ratio (DPR) is currently 87.10%.

Insider Activity

In related news, CEO Mark Pearson sold 39,551 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $54.22, for a total transaction of $2,144,455.22. Following the sale, the chief executive officer owned 690,678 shares in the company, valued at approximately $37,448,561.16. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bertram L. Scott sold 2,600 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total transaction of $134,836.00. Following the sale, the director owned 26,001 shares in the company, valued at $1,348,411.86. This represents a 9.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,468 shares of company stock worth $10,250,470. Insiders own 1.10% of the company’s stock.

Institutional Trading of Equitable

Several large investors have recently made changes to their positions in the company. Groupe la Francaise boosted its position in shares of Equitable by 8.2% during the 2nd quarter. Groupe la Francaise now owns 2,949 shares of the company’s stock worth $165,000 after acquiring an additional 223 shares in the last quarter. BSW Wealth Partners lifted its stake in Equitable by 5.9% in the 2nd quarter. BSW Wealth Partners now owns 4,259 shares of the company’s stock valued at $239,000 after purchasing an additional 238 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Equitable by 0.3% in the 1st quarter. QRG Capital Management Inc. now owns 88,561 shares of the company’s stock valued at $4,613,000 after purchasing an additional 260 shares during the last quarter. ProShare Advisors LLC lifted its stake in Equitable by 2.1% in the 2nd quarter. ProShare Advisors LLC now owns 13,473 shares of the company’s stock valued at $756,000 after purchasing an additional 271 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Equitable by 6.6% in the 2nd quarter. UMB Bank n.a. now owns 4,510 shares of the company’s stock valued at $253,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

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.