Rhumbline Advisers Sells 14,979 Shares of Equitable Holdings, Inc. $EQH

Rhumbline Advisers trimmed its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 1.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 936,016 shares of the company’s stock after selling 14,979 shares during the period. Rhumbline Advisers’ holdings in Equitable were worth $52,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQH. Atlas Capital Advisors Inc. lifted its holdings in Equitable by 310.2% in the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company’s stock worth $904,000 after purchasing an additional 13,120 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Equitable by 18.3% in the second quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock valued at $223,168,000 after purchasing an additional 615,314 shares during the period. Pinnacle Associates Ltd. grew its stake in Equitable by 53.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock valued at $971,000 after buying an additional 6,065 shares during the last quarter. Applied Finance Capital Management LLC acquired a new position in Equitable in the 2nd quarter valued at $434,000. Finally, Assetmark Inc. raised its holdings in Equitable by 3,555.3% in the 2nd quarter. Assetmark Inc. now owns 21,932 shares of the company’s stock worth $1,230,000 after acquiring an additional 21,332 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Stock Up 0.6%

EQH stock opened at $45.41 on Tuesday. Equitable Holdings, Inc. has a twelve month low of $41.39 and a twelve month high of $56.61. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 11.87. The company has a market cap of $13.01 billion, a PE ratio of -16.45 and a beta of 1.17. The business’s 50-day simple moving average is $48.64 and its 200 day simple moving average is $51.59.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.11). Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company earned $1.58 EPS. The company’s revenue was down 52.8% on a year-over-year basis. On average, research analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 24th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 24th. Equitable’s dividend payout ratio (DPR) is -39.13%.

Analyst Ratings Changes

EQH has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Equitable from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Equitable in a research report on Monday, November 17th. Barclays restated an “overweight” rating and set a $63.00 target price on shares of Equitable in a research note on Wednesday, October 8th. Wall Street Zen downgraded Equitable from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Wolfe Research upgraded Equitable to a “strong-buy” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold 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 $64.18.

Insiders Place Their Bets

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $43.14, for a total value of $1,712,658.00. Following the sale, the chief executive officer owned 676,540 shares of the company’s stock, valued at $29,185,935.60. The trade was a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $43.28, for a total transaction of $293,871.20. Following the completion of the transaction, the chief operating officer owned 68,308 shares of the company’s stock, valued at approximately $2,956,370.24. This represents a 9.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 176,358 shares of company stock worth $8,760,599 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Equitable Company Profile

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.