Wells Fargo & Company Issues Pessimistic Forecast for Equitable (NYSE:EQH) Stock Price

Equitable (NYSE:EQH) had its target price lowered by stock analysts at Wells Fargo & Company from $60.00 to $57.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 36.04% from the company’s current price.

Several other research firms also recently weighed in on EQH. The Goldman Sachs Group set a $60.00 price objective on shares of Equitable in a report on Monday, January 5th. UBS Group reduced their price target on shares of Equitable from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Raymond James Financial set a $60.00 price objective on shares of Equitable in a report on Monday, January 5th. BMO Capital Markets reissued an “outperform” rating on shares of Equitable in a report on Wednesday, December 17th. Finally, Zacks Research downgraded Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.27.

Equitable Stock Up 1.9%

Shares of Equitable stock opened at $41.90 on Wednesday. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.10 and a quick ratio of 0.13. Equitable has a 1-year low of $39.53 and a 1-year high of $56.61. The business’s fifty day moving average price is $46.15 and its two-hundred day moving average price is $48.42. The company has a market capitalization of $12.01 billion, a P/E ratio of -8.69, a PEG ratio of 0.32 and a beta of 1.12.

Equitable declared that its board has initiated a stock buyback plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the transaction, the chief operating officer directly owned 55,023 shares in the company, valued at $2,621,845.95. The trade was a 10.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nick Lane sold 30,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $1,429,500.00. Following the sale, the insider directly owned 99,958 shares in the company, valued at $4,762,998.70. This trade represents a 23.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 157,280 shares of company stock valued at $7,455,677. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Equitable by 15.3% during the fourth quarter. Pacer Advisors Inc. now owns 46,021 shares of the company’s stock valued at $2,193,000 after acquiring an additional 6,123 shares during the period. Smith Asset Management Co. LLC grew its position in Equitable by 14.0% during the 4th quarter. Smith Asset Management Co. LLC now owns 82,004 shares of the company’s stock worth $3,907,000 after purchasing an additional 10,055 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Equitable by 4.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 111,134 shares of the company’s stock worth $5,296,000 after purchasing an additional 5,166 shares in the last quarter. Vident Advisory LLC raised its stake in Equitable by 16.0% during the 4th quarter. Vident Advisory LLC now owns 120,655 shares of the company’s stock valued at $5,749,000 after purchasing an additional 16,655 shares during the period. Finally, XTX Topco Ltd lifted its holdings in shares of Equitable by 2.9% in the fourth quarter. XTX Topco Ltd now owns 22,247 shares of the company’s stock valued at $1,060,000 after purchasing an additional 631 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.