Sound Income Strategies LLC bought a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 95,885 shares of the company’s stock, valued at approximately $5,128,000.
Several other hedge funds and other institutional investors have also made changes to their positions in EQH. Wedmont Private Capital boosted its stake in shares of Equitable by 28.7% in the third quarter. Wedmont Private Capital now owns 5,941 shares of the company’s stock worth $318,000 after acquiring an additional 1,324 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Equitable by 21.8% in the 3rd quarter. GAMMA Investing LLC now owns 14,522 shares of the company’s stock valued at $745,000 after purchasing an additional 2,603 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Equitable by 142.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,522 shares of the company’s stock valued at $488,000 after purchasing an additional 5,594 shares in the last quarter. Eleva Capital SAS acquired a new stake in Equitable during the 3rd quarter worth $825,000. Finally, Tidal Investments LLC grew its holdings in shares of Equitable by 2.3% during the second quarter. Tidal Investments LLC now owns 31,661 shares of the company’s stock worth $1,389,000 after buying an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on EQH shares. Mizuho reduced their target price on shares of Equitable from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Wednesday. Weiss Ratings upgraded shares of Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, UBS Group raised their target price on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.09.
Insider Activity at Equitable
In other Equitable news, insider Nick Lane sold 14,923 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $53.24, for a total transaction of $794,500.52. Following the completion of the sale, the insider owned 110,007 shares of the company’s stock, valued at $5,856,772.68. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig MacKay sold 2,000 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $54.27, for a total value of $108,540.00. Following the completion of the transaction, the director directly owned 16,999 shares in the company, valued at approximately $922,535.73. This trade represents a 10.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,516 shares of company stock valued at $3,658,629 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Equitable Trading Down 1.1%
Shares of NYSE EQH traded down $0.60 during trading on Friday, hitting $52.88. 2,203,719 shares of the company were exchanged, compared to its average volume of 3,538,300. The company has a fifty day moving average price of $51.77 and a 200-day moving average price of $46.00. 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 firm has a market capitalization of $14.44 billion, a PE ratio of -15.97, a P/E/G ratio of 0.52 and a beta of 1.10. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $55.22.
Equitable (NYSE:EQH – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. Equitable’s revenue was down 29.8% compared to the same quarter last year. During the same period last year, the business earned $1.10 earnings per share. As a group, equities research analysts expect that Equitable Holdings, Inc. will post 7.2 EPS for the current year.
Equitable Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued 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 2.3%. Equitable’s dividend payout ratio is currently -36.25%.
About Equitable
Equitable Holdings, Inc is a financial services company that provides retirement, protection and investment management solutions to individuals, businesses and institutions. Its businesses operate primarily in the United States and serve clients through financial professionals, employer-sponsored retirement plans and institutional relationships.
Through its Equitable business, the company offers life insurance, annuities, individual retirement products and employee benefits. Its offerings are designed to help customers accumulate and protect assets, generate retirement income and address long-term financial planning needs.
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