Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) insider Nick Lane sold 4,417 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.45, for a total value of $187,501.65. Following the sale, the insider owned 124,218 shares of the company’s stock, valued at approximately $5,273,054.10. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nick Lane also recently made the following trade(s):
- On Wednesday, April 15th, Nick Lane sold 10,000 shares of Equitable stock. The shares were sold at an average price of $40.44, for a total value of $404,400.00.
- On Wednesday, April 8th, Nick Lane sold 10,000 shares of Equitable stock. The shares were sold at an average price of $40.04, for a total value of $400,400.00.
Equitable Stock Up 0.4%
Shares of NYSE EQH opened at $42.75 on Tuesday. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $56.61. The company has a market cap of $12.04 billion, a P/E ratio of -15.05, a P/E/G ratio of 0.46 and a beta of 1.13. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 8.75. The stock has a fifty day moving average price of $39.70 and a 200 day moving average price of $43.69.
Equitable announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Hedge Funds Weigh In On Equitable
Several large investors have recently modified their holdings of EQH. Norges Bank bought a new position in shares of Equitable during the fourth quarter worth about $550,995,000. Capital International Investors lifted its position in shares of Equitable by 49.5% during the third quarter. Capital International Investors now owns 11,012,837 shares of the company’s stock worth $559,232,000 after purchasing an additional 3,645,301 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Equitable by 7,955.4% during the fourth quarter. Bank of Montreal Can now owns 2,424,823 shares of the company’s stock worth $116,585,000 after purchasing an additional 2,394,721 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Equitable by 114.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock worth $204,640,000 after purchasing an additional 2,294,902 shares during the last quarter. Finally, London Co. of Virginia lifted its position in shares of Equitable by 4,141.8% during the third quarter. London Co. of Virginia now owns 1,235,243 shares of the company’s stock worth $62,726,000 after purchasing an additional 1,206,122 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EQH. Zacks Research downgraded Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. UBS Group lowered their price target on Equitable from $66.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Morgan Stanley lowered their price target on Equitable from $59.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Mizuho upped their price objective on shares of Equitable from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price objective on shares of Equitable from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Two 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 company. According to data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and an average target price of $58.18.
Check Out Our Latest Analysis on EQH
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.
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