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

Key Points

• Wells Fargo raised Equitable’s price target to $67 from $65 and maintained an “overweight” rating, implying about 19.9% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat lists an average “Moderate Buy” rating and a $63.50 average price target.
• Equitable topped quarterly earnings and revenue 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 hoisted by stock analysts at Wells Fargo & Company from $65.00 to $67.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 19.90% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Evercore restated an "outperform" rating and set a $66.00 price objective on shares of Equitable in a research report on Thursday, August 20th. Raymond James Financial reiterated a "strong-buy" rating and issued a $65.00 target price on shares of Equitable in a research report on Friday, October 9th. Truist Financial lifted their price target on Equitable from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, November 4th. Mizuho cut their price target on Equitable from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Equitable from $62.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. One 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $63.50.

Equitable Stock Performance

NYSE EQH opened at $55.88 on Thursday. The firm's fifty day moving average price is $53.52 and its two-hundred day moving average price is $46.24. The stock has a market cap of $14.90 billion, a PE ratio of 10.73, a PEG ratio of 0.54 and a beta of 1.06. Equitable has a fifty-two week low of $35.19 and a fifty-two week high of $56.83. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15.

Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.27. Equitable had a net margin of 11.53% and a negative return on equity of 3,089.96%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business earned $1.48 earnings per share. The company's revenue for the quarter was up 167.7% compared to the same quarter last year. On average, equities analysts expect that Equitable will post 7.20 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bertram L. Scott sold 2,780 shares of the business's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $54.35, for a total transaction of $151,093.00. Following the transaction, the director owned 23,685 shares in the company, valued at $1,287,279.75. The trade was a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig C. Mackay sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $922,535.73. This represents a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,703 shares of company stock valued at $1,106,964 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Equitable

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Wealth Asset Management LLC acquired a new position in shares of Equitable during the third quarter valued at about $333,000. Ieq Capital LLC acquired a new stake in shares of Equitable in the 3rd quarter valued at about $4,880,000. Focus Advisor Solutions LLC bought a new stake in Equitable in the 3rd quarter valued at about $744,000. Independent Advisor Alliance bought a new stake in Equitable in the 3rd quarter valued at about $220,000. Finally, Global Retirement Partners LLC increased its position in Equitable by 485.0% in the 3rd quarter. Global Retirement Partners LLC now owns 9,167 shares of the company's stock valued at $470,000 after buying an additional 7,600 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Equitable Company Profile

Equitable Holdings, Inc. is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions. The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable's insurance and retirement businesses primarily serve customers in the United States.

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