Equitable (NYSE:EQH) Reaches New 52-Week High – Should You Buy?

Equitable Holdings, Inc. (NYSE:EQH) hit a new 52-week high during trading on Thursday. The stock traded as high as $55.67 and last traded at $55.2320, with a volume of 73,593 shares. The stock had previously closed at $54.59.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group increased their target price on Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lifted their target price on Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. UBS Group boosted their price target on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Evercore reissued an “outperform” rating and issued a $66.00 price objective on shares of Equitable in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and an average price target of $63.18.

Equitable Stock Up 0.5%

The company has a market capitalization of $14.99 billion, a PE ratio of -16.59, a P/E/G ratio of 0.52 and a beta of 1.10. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The stock has a 50-day moving average of $52.49 and a 200 day moving average of $45.85.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the company earned $1.10 earnings per share. The company’s revenue was down 29.8% on a year-over-year basis. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.17 EPS for the current year.

Insider Activity

In related news, Director Arlene Isaacs-Lowe sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $52.83, for a total transaction of $52,830.00. Following the sale, the director owned 19,763 shares of the company’s stock, valued at approximately $1,044,079.29. This represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO William Eckert, IV sold 947 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.88, for a total transaction of $50,077.36. Following the completion of the transaction, the chief accounting officer directly owned 8,419 shares of the company’s stock, valued at approximately $445,196.72. The trade was a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,816 shares of company stock valued at $1,731,591. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equitable

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Equitable in the 2nd quarter worth approximately $1,136,305,000. Canada Pension Plan Investment Board purchased a new position in shares of Equitable in the 2nd quarter worth about $399,576,000. Pzena Investment Management LLC purchased a new stake in shares of Equitable during the second quarter valued at approximately $244,052,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Equitable during the second quarter valued at $208,146,000. Finally, Conifer Management L.L.C. bought a new stake in shares of Equitable in the second quarter worth approximately $184,296,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.

Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.