Legal & General Group Plc bought a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 684,214 shares of the company’s stock, valued at approximately $30,023,000.
A number of other institutional investors have also recently added to or reduced their stakes in EQH. Johnson Financial Group Inc. purchased a new position in Equitable in the third quarter valued at about $26,000. Root Financial Partners LLC boosted its position 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 buying an additional 347 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Equitable in the second quarter worth about $33,000. Covestor Ltd grew its stake in shares of Equitable by 124.7% in the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after buying an additional 404 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Equitable during the 3rd quarter valued at about $38,000. 92.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
EQH has been the topic of a number of recent research reports. Barclays boosted their target price on shares of Equitable from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price target on shares of Equitable from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. UBS Group lifted their price target 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. Wolfe Research lowered shares of Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, Evercore reissued an “outperform” rating and issued a $66.00 price objective on shares of Equitable in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.75.
Equitable Stock Performance
NYSE EQH opened at $50.15 on Friday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of -15.15, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. Equitable Holdings, Inc. has a 12 month low of $35.19 and a 12 month high of $55.15. The company’s fifty day moving average price is $48.30 and its two-hundred day moving average price is $43.58.
Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The company’s revenue was down 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. As a group, research analysts predict that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.
Equitable Announces Dividend
The company 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. This represents a $1.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable’s payout ratio is currently -36.25%.
Insider Transactions at Equitable
In other news, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $48.54, for a total value of $1,927,038.00. Following the completion of the transaction, the chief executive officer owned 753,403 shares in the company, valued at approximately $36,570,181.62. This trade represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William James Iv Eckert sold 947 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $52.88, for a total value of $50,077.36. Following the completion of the sale, the chief accounting officer owned 8,419 shares of the company’s stock, valued at $445,196.72. This trade represents a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,541 shares of company stock valued at $5,357,784 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Equitable 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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