Morgan Stanley Issues Pessimistic Forecast for Equitable (NYSE:EQH) Stock Price

Equitable (NYSE:EQH) had its price target reduced by Morgan Stanley from $59.00 to $54.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 34.33% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Equitable in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Mizuho set a $65.00 target price on shares of Equitable in a research report on Wednesday, January 14th. Zacks Research lowered shares of Equitable from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group set a $60.00 price objective on shares of Equitable in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Equitable Stock Performance

NYSE:EQH opened at $40.20 on Tuesday. Equitable has a 12 month low of $37.51 and a 12 month high of $56.61. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $11.27 billion, a PE ratio of -8.34, a price-to-earnings-growth ratio of 0.31 and a beta of 1.12. The business’s fifty day moving average price is $45.47 and its 200 day moving average price is $47.98.

Equitable declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Equitable

In other news, insider Nick Lane sold 30,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the completion of the sale, the insider owned 99,958 shares in the company, valued at approximately $4,762,998.70. This represents a 23.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William James Iv Eckert sold 4,300 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $47.27, for a total value of $203,261.00. Following the transaction, the chief accounting officer directly owned 15,625 shares in the company, valued at approximately $738,593.75. This represents a 21.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 157,280 shares of company stock valued at $7,455,677 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equitable

Hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new position in Equitable in the 3rd quarter valued at $26,000. True Wealth Design LLC increased its stake in shares of Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after acquiring an additional 480 shares during the period. Covestor Ltd raised its holdings in Equitable by 124.7% during the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock worth $35,000 after purchasing an additional 404 shares in the last quarter. Root Financial Partners LLC purchased a new position in Equitable during the third quarter worth about $36,000. Finally, Hilltop National Bank acquired a new stake in Equitable in the third quarter valued at about $37,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.