Equitable Holdings Inc. Makes New $774,000 Investment in Equitable Holdings, Inc. $EQH

Equitable Holdings Inc. acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 2nd quarter, HoldingsChannel reports. The fund acquired 17,650 shares of the company’s stock, valued at approximately $774,000.

Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Equitable during the third quarter worth about $26,000. Root Financial Partners LLC lifted its stake in Equitable by 64.1% in the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock valued at $33,000 after buying an additional 347 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Equitable in the 2nd quarter valued at about $33,000. Covestor Ltd boosted its holdings in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock worth $35,000 after buying an additional 404 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Equitable during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity at Equitable

In other Equitable news, CAO William James Iv Eckert sold 6,200 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total transaction of $259,346.00. Following the transaction, the chief accounting officer owned 9,366 shares of the company’s stock, valued at approximately $391,779.78. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles G.T. Stonehill sold 7,500 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $51.54, for a total value of $386,550.00. Following the completion of the sale, the director owned 34,357 shares of the company’s stock, valued at approximately $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,541 shares of company stock valued at $5,357,784 in the last three months. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQH. Wolfe Research cut Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. UBS Group lifted their price target on Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Equitable from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Barclays increased their price objective on Equitable from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Evercore restated an “outperform” rating and issued a $66.00 price objective on shares of Equitable in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Equitable Price Performance

Shares of NYSE EQH opened at $50.15 on Friday. The stock has a market cap of $13.69 billion, a PE ratio of -15.15, a P/E/G ratio of 0.49 and a beta of 1.09. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $55.15. The company has a 50-day moving average of $48.30 and a 200 day moving average of $43.58.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The business’s revenue was down 29.8% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. As a group, sell-side analysts predict that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. Equitable’s dividend payout ratio (DPR) is presently -36.25%.

About Equitable

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.