Equitable (NYSE:EQH) had its target price raised by Morgan Stanley from $27.00 to $30.00 in a research report sent to investors on Wednesday, Anlyst Ratings reports. Morgan Stanley currently has an overweight rating on the stock.
Other equities analysts have also issued research reports about the stock. Credit Suisse Group raised their price objective on shares of Equitable from $29.00 to $30.00 and gave the stock an outperform rating in a research note on Monday, October 26th. Royal Bank of Canada raised shares of Equitable from a sector perform rating to an outperform rating and raised their price objective for the stock from $21.00 to $28.00 in a research note on Wednesday, September 2nd. ValuEngine lowered shares of Equitable from a sell rating to a strong sell rating in a research note on Monday, November 2nd. TheStreet raised shares of Equitable from a d+ rating to a c- rating in a research note on Tuesday, August 11th. Finally, Zacks Investment Research downgraded shares of Equitable from a buy rating to a hold rating in a research report on Thursday, November 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $26.78.
Shares of NYSE:EQH opened at $24.74 on Wednesday. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of -23.56 and a beta of 1.64. Equitable has a 1-year low of $9.89 and a 1-year high of $27.30. The company has a 50 day moving average price of $21.48 and a 200 day moving average price of $20.14.
Equitable (NYSE:EQH) last issued its earnings results on Wednesday, November 4th. The company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.06. During the same quarter in the prior year, the firm earned $1.38 EPS. As a group, research analysts predict that Equitable will post 4.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.75%. Equitable’s dividend payout ratio is currently 14.02%.
Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Equitable by 34.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 205,404 shares of the company’s stock valued at $3,747,000 after purchasing an additional 53,021 shares in the last quarter. Twinbeech Capital LP bought a new position in shares of Equitable during the 3rd quarter valued at $1,591,000. California State Teachers Retirement System raised its holdings in shares of Equitable by 1.1% during the 3rd quarter. California State Teachers Retirement System now owns 881,542 shares of the company’s stock valued at $16,079,000 after purchasing an additional 9,521 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Equitable by 1.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 413,019 shares of the company’s stock valued at $7,532,000 after purchasing an additional 7,290 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Equitable during the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 88.09% of the company’s stock.
Equitable Company Profile
Equitable Holdings, Inc operates as a diversified financial services company worldwide. The company 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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