Man Group plc acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 48,328 shares of the company’s stock, valued at approximately $2,121,000.
Several other large investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in shares of Equitable during the 3rd quarter valued at $26,000. Root Financial Partners LLC increased its stake in shares of Equitable by 64.1% in the first quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock worth $33,000 after acquiring an additional 347 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Equitable during the second quarter worth $33,000. Covestor Ltd raised its holdings in shares of Equitable by 124.7% during the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock worth $35,000 after acquiring an additional 404 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Equitable during the third quarter valued at $38,000. 92.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Weiss Ratings cut Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Mizuho set a $68.00 price objective on shares of Equitable in a research report on Thursday, August 6th. Jefferies Financial Group lifted their target price on shares of Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Barclays increased their price target on shares of Equitable from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and an average price target of $61.75.
Equitable Stock Down 1.5%
Shares of EQH stock opened at $49.40 on Wednesday. The stock’s 50 day simple moving average is $48.50 and its 200 day simple moving average is $43.63. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of -14.92, a PEG ratio of 0.49 and a beta of 1.09.
Equitable (NYSE:EQH – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s revenue was down 29.8% on a year-over-year basis. As a group, research analysts predict that Equitable Holdings, Inc. will post 7.18 EPS for the current year.
Equitable Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. Equitable’s dividend payout ratio (DPR) is presently -36.25%.
Insiders Place Their Bets
In related news, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction on Monday, July 20th. The shares were sold at an average price of $48.54, for a total value of $1,927,038.00. Following the transaction, the chief executive officer owned 753,403 shares in the company, valued at $36,570,181.62. This trade represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William James Iv Eckert sold 6,200 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total transaction of $259,346.00. Following the transaction, the chief accounting officer directly owned 9,366 shares of the company’s stock, valued at approximately $391,779.78. This represents a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,541 shares of company stock worth $5,357,784 in the last ninety days. 1.00% of the stock is owned by insiders.
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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