Equitable Holdings, Inc. $EQH Stock: New York Life Investment Management LLC Cuts Stake

New York Life Investment Management LLC reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,188 shares of the company’s stock after selling 11,858 shares during the quarter. New York Life Investment Management LLC owned 0.06% of Equitable worth $8,777,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Equitable during the second quarter worth about $1,136,305,000. Canada Pension Plan Investment Board acquired a new position in shares of Equitable in the 2nd quarter valued at approximately $399,576,000. Wellington Management Group LLP raised its position in shares of Equitable by 6.3% in the 2nd quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company’s stock valued at $385,485,000 after buying an additional 523,638 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Equitable by 1.0% in the 3rd quarter. Pzena Investment Management LLC now owns 5,618,993 shares of the company’s stock valued at $288,086,000 after buying an additional 57,189 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its holdings in shares of Equitable by 3.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 5,142,337 shares of the company’s stock worth $225,646,000 after acquiring an additional 148,132 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQH has been the topic of several analyst reports. Barclays increased their price target on shares of Equitable from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Truist Financial boosted their price objective on shares of Equitable from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Weiss Ratings upgraded Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Evercore restated an “outperform” rating and set a $66.00 target price on shares of Equitable in a research note on Thursday, August 20th. Finally, Wells Fargo & Company raised their target price on Equitable from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.50.

Equitable Stock Performance

Shares of EQH stock opened at $55.68 on Friday. The business’s 50-day moving average price is $53.60 and its 200-day moving average price is $46.29. Equitable Holdings, Inc. has a 12 month low of $35.19 and a 12 month high of $56.83. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.55 and a beta of 1.06. 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 (NYSE:EQH) last released its quarterly earnings data on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.27. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.75 billion. Equitable had a negative return on equity of 3,089.96% and a net margin of 11.53%. The firm’s revenue was up 167.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. Equities research analysts forecast that Equitable Holdings, Inc. will post 7.20 EPS for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 23rd. Equitable’s payout ratio is presently 23.03%.

Insider Buying and Selling at Equitable

In other Equitable news, Director Bertram Scott sold 2,780 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $54.35, for a total value of $151,093.00. Following the completion of the transaction, the director directly owned 23,685 shares in the company, valued at approximately $1,287,279.75. This represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arlene Isaacs-Lowe sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 19,763 shares of the company’s stock, valued at $1,044,079.29. The trade was a 4.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,703 shares of company stock valued at $1,106,964. 1.00% of the stock is owned by insiders.

Equitable Company Profile

Equitable Holdings, Inc. is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions. The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable’s insurance and retirement businesses primarily serve customers in the United States.