Equitable (NYSE:EQH) Rating Increased to Strong-Buy at Wolfe Research

Key Points

• Equitable (NYSE:EQH) received a "strong-buy" rating from Wolfe Research, indicating growing confidence in the company's stock.
• The average price target for Equitable has been adjusted to $64.55, reflecting a positive outlook from various brokerages, although some firms have lowered their individual targets.
• Recent insider trading activity revealed significant share sales by both the CAO and CEO, indicating a 5.35% and 16.79% decrease in their ownership respectively.

Wolfe Research upgraded shares of Equitable (NYSE:EQH - Free Report) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. UBS Group decreased their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Wells Fargo & Company cut their price objective on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Keefe, Bruyette & Woods boosted their price objective on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley dropped their price target on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $64.55.

Equitable Stock Performance

EQH traded down $0.15 on Tuesday, reaching $54.26. 9,935,784 shares of the stock were exchanged, compared to its average volume of 2,565,813. The company's 50-day moving average price is $52.77 and its 200 day moving average price is $52.07. Equitable has a fifty-two week low of $40.81 and a fifty-two week high of $56.61. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $16.25 billion, a PE ratio of 43.76 and a beta of 1.16.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a $0.27 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Equitable's dividend payout ratio (DPR) is presently 87.10%.

Insider Activity

In other news, Director Bertram L. Scott sold 2,600 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the transaction, the director directly owned 26,001 shares in the company, valued at $1,348,411.86. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the transaction, the chief operating officer owned 88,678 shares of the company's stock, valued at $4,796,593.02. This trade represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,580 shares of company stock worth $8,258,518 over the last three months. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Equitable

A number of institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors Inc. raised its holdings in Equitable by 310.2% in the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company's stock worth $904,000 after acquiring an additional 13,120 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Equitable during the first quarter worth $252,000. Diversified Trust Co grew its position in Equitable by 51.5% in the first quarter. Diversified Trust Co now owns 42,276 shares of the company's stock valued at $2,202,000 after purchasing an additional 14,380 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Equitable during the 1st quarter worth about $255,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Equitable by 15.1% in the first quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock valued at $8,047,000 after buying an additional 20,317 shares during the last quarter. Institutional investors and hedge funds 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.