AustralianSuper Pty Ltd Has $30.46 Million Stake in Equitable Holdings, Inc. $EQH

AustralianSuper Pty Ltd reduced its position in shares of Equitable Holdings, Inc. (NYSE:EQHFree Report) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 639,240 shares of the company’s stock after selling 70,720 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Equitable were worth $30,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQH. Johnson Financial Group Inc. bought a new position in Equitable during the 3rd quarter worth $26,000. Root Financial Partners LLC bought a new stake in shares of Equitable in the third quarter valued at about $36,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Equitable in the third quarter valued at about $38,000. Geneos Wealth Management Inc. grew its stake in shares of Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after acquiring an additional 424 shares in the last quarter. Finally, Torren Management LLC acquired a new position in shares of Equitable in the fourth quarter valued at about $81,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on EQH shares. JPMorgan Chase & Co. dropped their price objective on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Raymond James Financial set a $58.00 target price on shares of Equitable and gave the stock a “strong-buy” rating in a report on Thursday, April 16th. UBS Group dropped their price target on shares of Equitable from $66.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Wall Street Zen upgraded Equitable from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings downgraded Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and an average price target of $58.18.

View Our Latest Analysis on Equitable

Equitable Trading Up 3.3%

Shares of Equitable stock opened at $42.53 on Friday. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of -14.98, a PEG ratio of 0.45 and a beta of 1.13. The company has a quick ratio of 0.11, a current ratio of 0.11 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 $56.61. The firm’s 50-day moving average price is $39.59 and its two-hundred day moving average price is $43.78.

Equitable (NYSE:EQHGet Free Report) last issued its earnings results on Monday, May 4th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the previous year, the company earned $1.35 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts forecast that Equitable Holdings, Inc. will post 7.08 earnings per share for the current fiscal year.

Equitable declared that its board has initiated a share buyback plan on Wednesday, February 11th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Equitable

In other news, COO Jeffrey J. Hurd sold 14,358 shares of Equitable stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $40.04, for a total value of $574,894.32. Following the transaction, the chief operating officer owned 89,403 shares in the company, valued at approximately $3,579,696.12. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nick Lane sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.44, for a total value of $404,400.00. Following the transaction, the insider directly owned 124,218 shares of the company’s stock, valued at $5,023,375.92. This trade represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 128,116 shares of company stock valued at $5,205,010 over the last three months. 1.10% of the stock is owned by insiders.

About Equitable

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding EQH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitable Holdings, Inc. (NYSE:EQHFree Report).

Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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