According to Zacks, “Equitable Holdings, Inc. is a financial services holding company comprised of two franchises, Equitable and AllianceBernstein. Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. “
A number of other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their target price on shares of Equitable from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Royal Bank of Canada raised shares of Equitable from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $28.00 in a research note on Wednesday, September 2nd. Credit Suisse Group reissued a “buy” rating and set a $29.00 target price on shares of Equitable in a research note on Thursday, September 3rd. Finally, TheStreet raised shares of Equitable from a “d+” rating to a “c-” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
Equitable stock opened at $19.07 on Tuesday. The company has a 50 day moving average price of $20.89 and a 200 day moving average price of $18.58. Equitable has a 52 week low of $9.89 and a 52 week high of $27.30. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of -317.78 and a beta of 1.71.
Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13. The firm had revenue of ($2,530.00) million during the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the business posted $1.14 EPS. The company’s revenue for the quarter was down 180.1% on a year-over-year basis. Equities analysts expect that Equitable will post 4.35 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in EQH. Wellington Management Group LLP raised its holdings in shares of Equitable by 23.0% during the 1st quarter. Wellington Management Group LLP now owns 19,938,101 shares of the company’s stock valued at $288,105,000 after purchasing an additional 3,730,353 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Equitable by 1,476.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,716,192 shares of the company’s stock valued at $53,700,000 after purchasing an additional 3,480,529 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Equitable by 78.9% during the 1st quarter. Clearbridge Investments LLC now owns 3,995,212 shares of the company’s stock valued at $57,731,000 after purchasing an additional 1,762,508 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Equitable by 145.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 2,839,274 shares of the company’s stock valued at $54,769,000 after purchasing an additional 1,682,223 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Equitable by 25.7% during the 1st quarter. Nuveen Asset Management LLC now owns 7,837,468 shares of the company’s stock valued at $113,252,000 after purchasing an additional 1,601,064 shares in the last quarter. Institutional investors and hedge funds own 88.09% of the company’s stock.
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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