Equitable (NYSE:EQH) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist raised its price target on Equitable to $65 from $60 and maintained a Buy rating, implying 17.3% upside from the prior close.
• Analyst sentiment is broadly positive: Equitable has a consensus “Moderate Buy” rating and an average price target of $63.33.
• Equitable beat quarterly estimates, reporting EPS of $2.13 versus $1.86 expected and revenue of $3.88 billion versus $3.75 billion expected.

Equitable (NYSE:EQH - Get Free Report) had its target price lifted by equities research analysts at Truist Financial from $60.00 to $65.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target points to a potential upside of 17.30% from the company's previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Equitable from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Jefferies Financial Group lifted their target price on shares of Equitable from $64.00 to $66.00 and gave the company a "buy" rating in a report on Friday, July 10th. Barclays raised their price objective on Equitable from $52.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, October 7th. Mizuho lowered their price objective on Equitable from $67.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods upped their price target on Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

Equitable Stock Up 0.3%

NYSE EQH traded up $0.17 during midday trading on Wednesday, hitting $55.41. 677,263 shares of the company traded hands, compared to its average volume of 3,462,884. Equitable has a 52 week low of $35.19 and a 52 week high of $56.83. The company's 50-day simple moving average is $52.92 and its 200-day simple moving average is $45.98. The company has a market cap of $15.13 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.53 and a beta of 1.06. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15.

Equitable (NYSE:EQH - Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.27. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.75 billion. Equitable had a net margin of 11.53% and a return on equity of 636.12%. The firm's revenue was up 167.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. As a group, equities research analysts forecast that Equitable will post 7.16 earnings per share for the current year.

Insider Buying and Selling at Equitable

In other news, Director Arlene Isaacs-Lowe sold 1,000 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $52.83, for a total value of $52,830.00. Following the completion of the transaction, the director owned 19,763 shares in the company, valued at approximately $1,044,079.29. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO William Eckert, IV sold 947 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.88, for a total value of $50,077.36. Following the transaction, the chief accounting officer owned 8,419 shares in the company, valued at $445,196.72. This represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 32,816 shares of company stock worth $1,731,591. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Equitable

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Equitable during the 3rd quarter worth approximately $531,000. Parallel Advisors LLC boosted its stake in Equitable by 301.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,344 shares of the company's stock valued at $171,000 after purchasing an additional 2,511 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Equitable in the 3rd quarter worth approximately $330,000. Chicago Partners Investment Group LLC acquired a new position in shares of Equitable during the third quarter valued at $479,000. Finally, Pzena Investment Management LLC increased its stake in Equitable by 1.0% during the 3rd quarter. Pzena Investment Management LLC now owns 5,618,993 shares of the company's stock valued at $288,086,000 after buying an additional 57,189 shares during the period. Hedge funds and other institutional investors own 92.70% of the company's stock.

About Equitable

Equitable Holdings, Inc NYSE: EQH is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.

Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.

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