J.P. Morgan Remains a Buy on Equitable Holdings (EQH)

J.P. Morgan analyst Jimmy Bhullar maintained a Buy rating on Equitable Holdings yesterday and set a price target of $58.00. The company’s shares closed yesterday at $39.78.

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According to TipRanks, Bhullar is a 4-star analyst with an average return of 6.2% and a 56.34% success rate. Bhullar covers the Financial sector, focusing on stocks such as Hartford Insurance, Prudential Financial, and Globe Life.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Equitable Holdings with a $59.57 average price target, representing a 49.75% upside. In a report released on March 3, Morgan Stanley also maintained a Buy rating on the stock with a $54.00 price target.

Based on Equitable Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.28 billion and a net profit of $215 million. In comparison, last year the company earned a revenue of $3.62 billion and had a net profit of $899 million

Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQH in relation to earlier this year. Last month, Nick Lane, the Head of Retirement, Wealth Management & Protection Solutions of EQH sold 17,199.00 shares for a total of $775,944.39.