Equitable Holdings, Inc. (NYSE:EQH) Shares Acquired by Quarry LP

Quarry LP lifted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 623.5% during the 2nd quarter, Holdings Channel reports. The fund owned 2,366 shares of the company’s stock after buying an additional 2,039 shares during the quarter. Quarry LP’s holdings in Equitable were worth $97,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Equitable by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after purchasing an additional 446,752 shares during the period. Intech Investment Management LLC lifted its holdings in Equitable by 60.9% in the first quarter. Intech Investment Management LLC now owns 100,476 shares of the company’s stock valued at $3,819,000 after acquiring an additional 38,040 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in Equitable by 265.0% in the first quarter. Ashton Thomas Private Wealth LLC now owns 69,503 shares of the company’s stock worth $2,642,000 after acquiring an additional 50,460 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in Equitable during the fourth quarter worth $2,892,000. Finally, Friedenthal Financial purchased a new stake in Equitable in the second quarter valued at $831,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Down 0.8 %

Shares of NYSE EQH opened at $41.71 on Wednesday. Equitable Holdings, Inc. has a 12-month low of $24.65 and a 12-month high of $44.50. The stock has a market cap of $13.57 billion, a P/E ratio of 12.91 and a beta of 1.42. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The business’s fifty day simple moving average is $40.86 and its 200-day simple moving average is $39.89.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company earned $1.17 EPS. Equitable’s revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, equities analysts predict that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is presently 29.72%.

Insider Buying and Selling at Equitable

In related news, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at $27,263,672.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,469 shares of company stock valued at $3,067,434. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

EQH has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company dropped their price target on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Jefferies Financial Group lifted their target price on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, UBS Group cut Equitable from a “buy” rating to a “neutral” rating and upped their price target for the stock from $40.00 to $43.00 in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average price target of $46.64.

About Equitable

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.