Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) Director Bertram Scott sold 2,470 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $41.08, for a total value of $101,467.60. Following the sale, the director directly owned 27,931 shares in the company, valued at approximately $1,147,405.48. This represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Equitable Price Performance
NYSE:EQH opened at $40.86 on Monday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 8.75. The business’s 50-day simple moving average is $40.65 and its two-hundred day simple moving average is $43.24. The stock has a market cap of $11.50 billion, a PE ratio of -14.39, a P/E/G ratio of 0.44 and a beta of 1.10. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $56.61.
Equitable (NYSE:EQH – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Equitable had a positive return on equity of 232.29% and a negative net margin of 7.26%.The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. As a group, analysts forecast that Equitable Holdings, Inc. will post 7.07 EPS for the current fiscal year.
Equitable Increases Dividend
Equitable declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 11th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Institutional Investors Weigh In On Equitable
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new stake in Equitable during the 3rd quarter worth about $26,000. Covestor Ltd boosted its stake in shares of Equitable by 124.7% during the 4th 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. Caitong International Asset Management Co. Ltd purchased a new position in Equitable in the 3rd quarter valued at about $38,000. Geneos Wealth Management Inc. lifted its stake in Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after buying an additional 424 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in Equitable by 64.1% during the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock worth $33,000 after purchasing an additional 347 shares during the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
EQH has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on Equitable from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Evercore set a $63.00 price target on Equitable and gave the company an “outperform” rating in a report on Thursday, April 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $51.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Barclays boosted their price objective on shares of Equitable from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.18.
Check Out Our Latest Stock Analysis on EQH
Equitable Company Profile
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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