Equitable (NYSE:EQH) CAO Sells 947 Shares

Key Points

• Equitable CAO William James Iv Eckert sold 947 shares at an average price of $52.88, generating $50,077.36 and reducing his direct holdings by 10.11% to 8,419 shares.
• Equitable reported quarterly EPS of $1.70, exceeding estimates of $1.65, while revenue fell 29.8% year over year to $1.66 billion. The company also declared a quarterly dividend of $0.30 per share, representing a 2.3% yield.
• EQH traded at $52.52, near its 12-month high of $55.24, and analysts maintain a “Moderate Buy” consensus with an average price target of $60.75; institutional investors own 92.7% of the stock.

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) CAO William James Iv Eckert sold 947 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $52.88, for a total value of $50,077.36. Following the completion of the transaction, the chief accounting officer directly owned 8,419 shares of the company's stock, valued at approximately $445,196.72. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

William James Iv Eckert also recently made the following trade(s):

• On Wednesday, June 10th, William James Iv Eckert sold 6,200 shares of Equitable stock. The shares were sold at an average price of $41.83, for a total value of $259,346.00.
• On Friday, May 15th, William James Iv Eckert sold 7,300 shares of Equitable stock. The stock was sold at an average price of $42.48, for a total value of $310,104.00.

Equitable Price Performance

EQH stock traded up $1.00 during midday trading on Monday, hitting $52.52. The company's stock had a trading volume of 3,084,582 shares, compared to its average volume of 3,763,436. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a 12 month low of $35.19 and a 12 month high of $55.24. The company has a 50 day moving average of $45.98 and a two-hundred day moving average of $43.05. The firm has a market capitalization of $14.34 billion, a price-to-earnings ratio of -15.87, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09.

Equitable (NYSE:EQH - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The company's quarterly revenue was down 29.8% compared to the same quarter last year. On average, analysts expect that Equitable Holdings, Inc. will post 7.13 EPS for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a $0.30 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.3%. Equitable's payout ratio is presently -36.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQH. UBS Group raised 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. Barclays increased their price target on Equitable from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on Equitable from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Finally, Raymond James Financial set a $58.00 target price on Equitable and gave the company a "strong-buy" rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EQH. Johnson Financial Group Inc. purchased a new stake in shares of Equitable in the third quarter valued at $26,000. Root Financial Partners LLC grew its holdings in Equitable by 64.1% during the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company's stock valued at $33,000 after purchasing an additional 347 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Equitable during the 2nd quarter valued at about $33,000. Covestor Ltd raised its position in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock worth $35,000 after purchasing an additional 404 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Equitable in the third quarter worth about $38,000. Institutional investors own 92.70% of the company's stock.

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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