Equitable (NYSE:EQH) Posts Quarterly Earnings Results, Hits Expectations

Equitable (NYSE:EQH) posted its quarterly earnings data on Monday. The company reported $1.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.53, Zacks reports. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year.

Equitable Stock Performance

Shares of EQH stock traded up $5.91 during trading hours on Wednesday, reaching $50.40. The company had a trading volume of 4,962,969 shares, compared to its average volume of 2,503,199. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. The business has a fifty day moving average price of $42.86 and a 200-day moving average price of $41.26. Equitable has a one year low of $25.88 and a one year high of $50.51. The firm has a market cap of $15.97 billion, a PE ratio of -40.82 and a beta of 1.40.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley lowered their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Truist Financial increased their target price on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup lifted their price target on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.70.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the sale, the chief executive officer now directly owns 678,555 shares in the company, valued at approximately $28,635,021. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total value of $148,470.00. Following the transaction, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,500 shares of company stock worth $3,969,870. 1.10% of the stock is owned by insiders.

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.