Equitable Holdings Target Price Set at $63.36 by Analysts

Analysts have established a target price of $63.36 for shares of Equitable Holdings, Inc. (NYSE:EQH), reflecting a consensus rating of “Buy” among twelve firms currently covering the company. This outlook follows recent evaluations indicating varying levels of optimism regarding Equitable’s stock performance.

Of the analysts, one has assigned a hold rating, while ten have issued buy ratings and one has provided a strong buy rating. The average price objective among these analysts is $62.77 for the next twelve months. Various research firms have weighed in on Equitable’s prospects, highlighting shifts in target prices and ratings.

In a report dated January 5, Raymond James Financial set a price target of $60.00 for Equitable. On the same day, JPMorgan Chase & Co. upgraded the stock from neutral to overweight, adjusting their price target from $64.00 to $60.00. Meanwhile, UBS Group revised their target down from $77.00 to $67.00 while maintaining a buy rating. Additionally, Wells Fargo & Company lowered their target from $65.00 to $62.00 and affirmed an overweight rating.

Recent Earnings Report and Dividend Announcement

Equitable Holdings recently reported its quarterly earnings on November 4, 2023. The company recorded earnings per share of $1.48, falling short of analysts’ expectations of $1.59 by $0.11. Revenue for the quarter was $1.45 billion, significantly below the consensus estimate of $3.65 billion. This represented a year-over-year decline of 52.8%, with a net margin of -5.80% and a return on equity of 107.71%. Analysts forecast that Equitable will achieve $7.33 earnings per share for the current year.

On December 1, 2023, Equitable announced a quarterly dividend of $0.27 per share, payable to stockholders of record on November 24, 2023. This dividend yields 2.2% annually, with a payout ratio of -39.13%.

Insider Transactions and Institutional Investments

In other corporate developments, Chief Operating Officer Jeffrey J. Hurd sold 6,790 shares of Equitable on November 17, 2023, at an average price of $43.28, totaling approximately $293,871.20. Following this transaction, Hurd retained 68,308 shares valued at around $2,956,370.24, marking a 9.04% reduction in his ownership. The transaction was disclosed to the Securities and Exchange Commission.

Additionally, insider Nick Lane sold 30,000 shares on December 18, 2023, at an average price of $47.87, resulting in a total transaction value of $1,436,100.00. Following the sale, Lane owned 119,958 shares valued at approximately $5,742,389.46, reflecting a 20.01% decrease in his position. Over the last three months, insiders have sold 173,770 shares for a total of $8,120,014, while insiders currently control 1.10% of the company’s stock.

Several institutional investors and hedge funds have also been active in the market for Equitable shares. Norges Bank acquired a stake valued at $703,060,000 in the second quarter. Meanwhile, Capital International Investors increased its holdings by 49.5% in the third quarter, now owning over 11 million shares worth approximately $559.2 million after purchasing an additional 3,645,301 shares.

Other notable transactions include Diamond Hill Capital Management Inc., which invested about $101,547,000 in a new stake during the third quarter, and Robeco Institutional Asset Management B.V., which raised its position by 553.0% in the second quarter. Institutional investors now own approximately 92.70% of Equitable’s shares.

Equitable Holdings, Inc. continues to be a significant player in the life insurance and annuity markets in the United States, offering a range of products designed to help individuals manage risk and prepare for retirement. As the company navigates its financial challenges, analysts remain cautiously optimistic about its prospects moving forward.