Equitable (NYSE:EQH) Stock Price Target Cut by Mizuho

Key Points

• Mizuho lowered Equitable’s price target from $67 to $66 while maintaining an “outperform” rating, implying roughly 24% upside from the prior close.
• Analyst sentiment remains positive, with Equitable holding a consensus “Moderate Buy” rating and an average price target of $62.45.
• Equitable’s latest quarterly earnings beat expectations, reporting $1.70 in EPS versus the $1.65 consensus, although revenue fell 29.8% year over year; insiders have also sold shares in recent months.

Equitable (NYSE:EQH - Get Free Report) had its target price cut by investment analysts at Mizuho from $67.00 to $66.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's target price suggests a potential upside of 24.05% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company raised their target price on Equitable from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Barclays increased their price target on shares of Equitable from $52.00 to $61.00 and gave the company an "overweight" rating in a research report on Wednesday. Zacks Research upgraded shares of Equitable from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Evercore reaffirmed an "outperform" rating and issued a $66.00 target price on shares of Equitable in a research note on Thursday, August 20th. Finally, Jefferies Financial Group increased their target price on shares of Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.45.

Equitable Price Performance

Shares of NYSE EQH traded down $1.29 during midday trading on Wednesday, reaching $53.20. 794,069 shares of the company traded hands, compared to its average volume of 3,543,307. Equitable has a 12 month low of $35.19 and a 12 month high of $55.22. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. The stock's 50-day simple moving average is $51.58 and its 200-day simple moving average is $45.77. The firm has a market cap of $14.53 billion, a PE ratio of -16.02, a PEG ratio of 0.53 and a beta of 1.10.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.65 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business's revenue was down 29.8% on a year-over-year basis. During the same period last year, the firm posted $1.10 EPS. As a group, equities analysts anticipate that Equitable will post 7.18 earnings per share for the current fiscal year.

Insider Transactions at Equitable

In related news, Director Craig MacKay sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $54.27, for a total transaction of $108,540.00. Following the transaction, the director directly owned 16,999 shares of the company's stock, valued at approximately $922,535.73. The trade was a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nick Lane sold 14,923 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $53.24, for a total transaction of $794,500.52. Following the sale, the insider owned 110,007 shares of the company's stock, valued at approximately $5,856,772.68. This represents a 11.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 72,516 shares of company stock valued at $3,658,629. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Equitable

Institutional investors and hedge funds have recently bought and sold shares of the company. Eleva Capital SAS bought a new position in shares of Equitable in the 3rd quarter valued at $825,000. Tidal Investments LLC grew its position in Equitable by 2.3% in the second quarter. Tidal Investments LLC now owns 31,661 shares of the company's stock valued at $1,389,000 after acquiring an additional 709 shares during the last quarter. Squarepoint Ops LLC raised its stake in Equitable by 91.6% during the second quarter. Squarepoint Ops LLC now owns 205,053 shares of the company's stock worth $8,998,000 after acquiring an additional 98,023 shares in the last quarter. Nykredit A S bought a new position in shares of Equitable in the second quarter worth about $376,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Equitable in the 2nd quarter valued at approximately $2,606,000. Institutional investors own 92.70% of the company's stock.

About Equitable

Equitable Holdings, Inc is a financial services company that provides retirement, protection and investment management solutions to individuals, businesses and institutions. Its businesses operate primarily in the United States and serve clients through financial professionals, employer-sponsored retirement plans and institutional relationships.

Through its Equitable business, the company offers life insurance, annuities, individual retirement products and employee benefits. Its offerings are designed to help customers accumulate and protect assets, generate retirement income and address long-term financial planning needs.

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