Moore Capital Management LP purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 345,408 shares of the company’s stock, valued at approximately $15,157,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new position in shares of Equitable during the 3rd quarter valued at about $26,000. Root Financial Partners LLC boosted its stake in 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Equitable during the second quarter valued at approximately $33,000. Covestor Ltd raised its stake 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 bought a new stake in shares of Equitable in the 3rd quarter worth approximately $38,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on EQH. Evercore reaffirmed an “outperform” rating and set a $66.00 target price on shares of Equitable in a report on Thursday, August 20th. Zacks Research upgraded Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods increased their target price on Equitable from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. UBS Group boosted their price objective on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company increased their price objective on Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.
Equitable Stock Down 0.1%
Shares of NYSE:EQH opened at $50.15 on Monday. Equitable Holdings, Inc. has a 52-week low of $35.19 and a 52-week high of $55.15. The firm has a market capitalization of $13.69 billion, a P/E ratio of -15.15, a P/E/G ratio of 0.49 and a beta of 1.09. The stock has a 50 day moving average price of $48.30 and a 200-day moving average price of $43.57. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15.
Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, beating 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 company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue for the quarter was down 29.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.
Equitable Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.4%. Equitable’s dividend payout ratio (DPR) is currently -36.25%.
Insider Buying and Selling at Equitable
In other news, Director Bertram L. Scott sold 2,470 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $41.08, for a total transaction of $101,467.60. Following the sale, the director owned 27,931 shares in the company, valued at approximately $1,147,405.48. The trade was a 8.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey J. Hurd sold 14,358 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $45.11, for a total transaction of $647,689.38. Following the completion of the sale, the chief operating officer directly owned 74,748 shares in the company, valued at $3,371,882.28. This represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 114,541 shares of company stock valued at $5,357,784. Company 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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