BlackRock Inc. acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 25,895,739 shares of the company's stock, valued at approximately $1,136,305,000. BlackRock Inc. owned 9.49% of Equitable as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQH. Geneos Wealth Management Inc. grew its position in shares of Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock valued at $46,000 after purchasing an additional 424 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Equitable during the second quarter valued at approximately $1,712,000. Gamco Investors INC. ET AL acquired a new stake in Equitable during the second quarter worth approximately $1,133,000. Qube Research & Technologies Ltd grew its stake in Equitable by 1,126.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 291,126 shares of the company's stock worth $16,332,000 after acquiring an additional 267,389 shares during the period. Finally, Sei Investments Co. grew its stake in Equitable by 45.8% in the 2nd quarter. Sei Investments Co. now owns 626,017 shares of the company's stock worth $35,120,000 after acquiring an additional 196,729 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Equitable news, CAO William James Iv Eckert sold 6,200 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total value of $259,346.00. Following the sale, the chief accounting officer directly owned 9,366 shares of the company's stock, valued at $391,779.78. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles G.T. Stonehill sold 7,500 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $51.54, for a total value of $386,550.00. Following the completion of the sale, the director owned 34,357 shares in the company, valued at $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 114,541 shares of company stock worth $5,357,784. Company insiders own 1.00% of the company's stock.
Wall Street Analyst Weigh In
EQH has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Equitable from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group upped their price objective on shares of Equitable from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Mizuho set a $68.00 price objective on shares of Equitable in a report on Thursday, August 6th. JPMorgan Chase & Co. decreased their target price on shares of Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.75.
Read Our Latest Stock Analysis on EQH
Equitable Stock Up 0.2%
EQH stock opened at $48.84 on Friday. The company has a market capitalization of $13.34 billion, a P/E ratio of -14.76, a PEG ratio of 0.48 and a beta of 1.09. The firm has a 50 day simple moving average of $47.87 and a 200-day simple moving average of $43.42. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings data 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. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the business earned $1.10 EPS. The firm's revenue for the quarter was down 29.8% compared to the same quarter last year. On average, equities research analysts predict that Equitable Holdings, Inc. will post 7.16 earnings per share for the current fiscal year.
Equitable Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable's dividend payout ratio is -36.25%.
About Equitable
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Equitable, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Equitable wasn't on the list.
While Equitable currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
