Equitable (NYSE:EQH) Given New $66.00 Price Target at Wells Fargo & Company

Equitable (NYSE:EQH - Get Free Report) had its price objective lifted by research analysts at Wells Fargo & Company from $61.00 to $66.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 22.79% from the company's previous close.

A number of other research analysts have also commented on EQH. JPMorgan Chase & Co. raised their price objective on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday. Morgan Stanley upped their price target on shares of Equitable from $58.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods raised their price objective on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday. Evercore ISI lowered their price target on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group dropped their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.09.

Equitable Stock Performance

EQH stock traded up $0.57 during midday trading on Thursday, reaching $53.75. The company had a trading volume of 2,221,459 shares, compared to its average volume of 2,568,449. Equitable has a fifty-two week low of $36.46 and a fifty-two week high of $56.61. The firm has a market capitalization of $16.33 billion, a PE ratio of 14.61 and a beta of 1.15. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39. The stock has a 50 day moving average price of $53.41 and a 200 day moving average price of $51.74.

Equitable (NYSE:EQH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.14). Equitable had a return on equity of 79.05% and a net margin of 8.50%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the company posted $1.43 EPS. Equitable's revenue for the quarter was up 105.2% on a year-over-year basis. Analysts anticipate that Equitable will post 7.33 earnings per share for the current year.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $352,698.06. Following the sale, the chief operating officer owned 94,980 shares of the company's stock, valued at $5,025,391.80. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William James Iv Eckert sold 4,000 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the sale, the chief accounting officer owned 19,827 shares of the company's stock, valued at $1,052,615.43. This trade represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,332 shares of company stock valued at $5,993,760 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Equitable

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. bought a new stake in Equitable during the 1st quarter worth about $26,000. WPG Advisers LLC bought a new stake in shares of Equitable during the first quarter worth $27,000. Orion Capital Management LLC acquired a new stake in shares of Equitable in the 1st quarter valued at about $33,000. Bessemer Group Inc. raised its position in Equitable by 111.2% in the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after buying an additional 357 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Equitable by 33.2% in the fourth quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after purchasing an additional 199 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

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.