Equitable (NYSE:EQH) Shares Break Above Fifty Day Moving Average – Here’s Why

Shares of Equitable Holdings, Inc. (NYSE:EQH) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $53.28 and traded as high as $56.00. Equitable shares last traded at $55.4750, with a volume of 1,989,208 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Equitable from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Barclays increased their target price on shares of Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Weiss Ratings raised Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Mizuho lowered their price target on Equitable from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Equitable Stock Up 5.3%

The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.55 and a beta of 1.06. The firm has a fifty day moving average price of $53.28 and a 200 day moving average price of $46.14. The company has a current ratio of 0.12, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.27. Equitable had a negative return on equity of 3,089.96% and a net margin of 11.53%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The business’s revenue for the quarter was up 167.7% compared to the same quarter last year. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.20 EPS for the current fiscal year.

Insider Buying and Selling at Equitable

In other Equitable news, insider Nick Lane sold 14,923 shares of Equitable stock in a transaction on Friday, September 4th. The shares were sold at an average price of $53.24, for a total value of $794,500.52. Following the sale, the insider directly owned 110,007 shares in the company, valued at approximately $5,856,772.68. The trade was a 11.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig MacKay sold 2,000 shares of Equitable stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $54.27, for a total value of $108,540.00. Following the completion of the sale, the director directly owned 16,999 shares in the company, valued at approximately $922,535.73. This represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,703 shares of company stock worth $1,106,964 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Equitable

Several institutional investors and hedge funds have recently bought and sold shares of EQH. BlackRock Inc. bought a new position in shares of Equitable during the 2nd quarter worth approximately $1,136,305,000. Canada Pension Plan Investment Board bought a new stake in Equitable in the 2nd quarter valued at $399,576,000. Wellington Management Group LLP lifted its holdings in Equitable by 6.3% during the 2nd quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company’s stock valued at $385,485,000 after purchasing an additional 523,638 shares during the last quarter. Pzena Investment Management LLC boosted its position in Equitable by 1.0% during the third quarter. Pzena Investment Management LLC now owns 5,618,993 shares of the company’s stock worth $288,086,000 after purchasing an additional 57,189 shares during the period. Finally, Thornburg Investment Management Inc. grew its stake in Equitable by 3.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 5,142,337 shares of the company’s stock valued at $225,646,000 after buying an additional 148,132 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

About Equitable

Equitable Holdings, Inc is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions.

The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable’s insurance and retirement businesses primarily serve customers in the United States.

Equitable traces its history to the Equitable Life Assurance Society of the United States, founded in 1859.