JPMorgan Chase & Co. Raises Equitable (NYSE:EQH) Price Target to $45.00

Equitable (NYSE:EQH) had its target price boosted by JPMorgan Chase & Co. from $36.00 to $45.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 9.12% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their price objective on Equitable from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Truist Financial increased their price objective on shares of Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Evercore ISI lifted their target price on shares of Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. UBS Group cut shares of Equitable from a “buy” rating to a “neutral” rating and increased their price target for the company from $40.00 to $43.00 in a report on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.90.

Equitable Stock Performance

Shares of EQH traded up $0.42 on Tuesday, reaching $41.24. The stock had a trading volume of 395,848 shares, compared to its average volume of 2,664,247. Equitable has a 12-month low of $24.65 and a 12-month high of $41.95. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of 12.78 and a beta of 1.43. The company has a 50-day simple moving average of $39.98 and a 200-day simple moving average of $36.42.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. On average, analysts expect that Equitable will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Monday, April 15th. The shares were sold at an average price of $36.24, for a total transaction of $1,087,200.00. Following the transaction, the chief executive officer now owns 685,025 shares in the company, valued at approximately $24,825,306. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $39.62, for a total value of $394,971.78. Following the transaction, the chief operating officer now owns 121,521 shares of the company’s stock, valued at $4,814,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $36.24, for a total value of $1,087,200.00. Following the transaction, the chief executive officer now directly owns 685,025 shares in the company, valued at $24,825,306. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,411 shares of company stock valued at $7,646,571. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Equitable by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after buying an additional 446,752 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Equitable in the fourth quarter worth about $4,425,000. Pacer Advisors Inc. purchased a new position in Equitable during the 4th quarter valued at $1,573,000. Louisiana State Employees Retirement System bought a new position in shares of Equitable in the fourth quarter worth about $2,977,000. Finally, Yousif Capital Management LLC grew its stake in Equitable by 1,739.8% in the 4th quarter. Yousif Capital Management LLC now owns 153,314 shares of the company’s stock worth $5,105,000 after acquiring an additional 144,981 shares in the last quarter. Institutional investors 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.