JPMorgan Chase & Co. Boosts Equitable (NYSE:EQH) Price Target to $53.00

Equitable (NYSE:EQH) had its price target lifted by JPMorgan Chase & Co. from $45.00 to $53.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.05% from the stock’s current price.

A number of other analysts also recently commented on the stock. Barclays increased their price objective on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $54.00 to $58.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company upped their target price on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.00.

Equitable Stock Performance

NYSE EQH opened at $49.05 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. Equitable has a 1-year low of $31.76 and a 1-year high of $50.51. The company has a market cap of $15.37 billion, a PE ratio of -45.00 and a beta of 1.39. The stock’s 50 day simple moving average is $47.36 and its 200-day simple moving average is $43.75.

Equitable (NYSE:EQH) last announced its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.53. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. As a group, equities research analysts anticipate that Equitable will post 6.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.68, for a total transaction of $79,356.00. Following the sale, the chief accounting officer now owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the completion of the transaction, the chief executive officer now owns 658,555 shares of the company’s stock, valued at $29,239,842. This trade represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,032 shares of company stock valued at $6,031,759 over the last 90 days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equitable

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of Equitable by 195.6% during the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock worth $25,000 after buying an additional 352 shares during the period. Covestor Ltd increased its position in shares of Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of Equitable in the 3rd quarter valued at $48,000. UMB Bank n.a. lifted its position in shares of Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after purchasing an additional 718 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Equitable by 623.5% during the second quarter. Quarry LP now owns 2,366 shares of the company’s stock worth $97,000 after purchasing an additional 2,039 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

About Equitable

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.