Analysts Set Target Price of $63.36 for Equitable Holdings Shares

Shares of Equitable Holdings, Inc. (NYSE:EQH) have received an average rating of “Buy” from twelve investment firms currently covering the company. According to MarketBeat, one analyst has issued a hold rating, while ten analysts have recommended a buy, and one has given a strong buy rating. The average target price for the stock among these analysts is set at $62.77.

Several research firms have provided insights on Equitable’s stock. Raymond James Financial set a target price of $60.00 on January 5, 2024. Following suit, UBS Group lowered its price target from $77.00 to $67.00 while maintaining a buy rating. Wells Fargo & Company adjusted its target from $65.00 to $62.00 on November 7, 2023, also giving an “overweight” rating. Additionally, JPMorgan Chase & Co. upgraded its rating from neutral to overweight but decreased its target from $64.00 to $60.00 on the same January date. Lastly, Morgan Stanley reduced its price objective from $67.00 to $61.00 on October 7, 2023, while maintaining an overweight rating.

Equitable’s financial performance revealed mixed results. The company announced its quarterly earnings on November 4, 2023, reporting $1.48 earnings per share, which fell short of analysts’ consensus estimates of $1.59 by $0.11. Total revenue for the quarter was reported at $1.45 billion, significantly lower than the estimated $3.65 billion. Year-over-year, revenue declined by 52.8%, highlighting a challenging environment for the firm.

Recent Dividend and Insider Trading Activities

On December 1, 2023, Equitable declared a quarterly dividend of $0.27, which was distributed to stockholders of record as of November 24, 2023. This translates to an annualized dividend of $1.08 and a yield of 2.2%. Notably, the company’s dividend payout ratio stands at -39.13%.

Recent insider trading activities have also attracted attention. Jeffrey J. Hurd, Chief Operating Officer, sold 6,790 shares on November 17, 2023, at an average price of $43.28, amounting to a total value of $293,871.20. Following this transaction, Hurd holds 68,308 shares, valued at approximately $2,956,370.24. This sale accounted for a 9.04% reduction in his ownership.

In another significant transaction, insider Nick Lane sold 30,000 shares at an average price of $47.87 on December 18, 2023, resulting in a transaction worth $1,436,100.00. After this sale, Lane retains 119,958 shares valued at around $5,742,389.46, reflecting a 20.01% decrease in his position. Over the last 90 days, insiders have sold a total of 173,770 shares valued at $8,120,014, with insiders collectively owning 1.10% of the stock.

Institutional Investor Activity

Institutional investors have also played a notable role in Equitable’s stock dynamics. Norges Bank acquired a new stake valued at $703,060,000 in the second quarter. Capital International Investors increased its stake by 49.5% in the third quarter, now owning 11,012,837 shares worth approximately $559,232,000 after acquiring an additional 3,645,301 shares.

Additionally, Diamond Hill Capital Management Inc. entered a new position valued at about $101,547,000, while Robeco Institutional Asset Management B.V. boosted its holdings by 553.0%, now owning 2,166,713 shares valued at $121,553,000. Geode Capital Management LLC also increased its stake by 26.4%, with 7,428,619 shares now valued at $415,786,000. Overall, institutional investors own approximately 92.70% of Equitable’s stock.

Equitable Holdings, Inc. continues to navigate a complex financial landscape, marked by varied analyst ratings and insider trading activity. Its ability to adapt and respond to these challenges will be crucial as it strives to enhance shareholder value.