Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 288,000 shares of the company's stock, valued at approximately $12,637,000. Livforsakringsbolaget Skandia Omsesidigt owned about 0.11% of Equitable at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Equitable in the 2nd quarter valued at approximately $1,136,305,000. Price T Rowe Associates Inc. MD raised its position in Equitable by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,258,124 shares of the company's stock valued at $822,351,000 after acquiring an additional 1,132,861 shares in the last quarter. Capital International Investors lifted its stake in Equitable by 23.0% in the fourth quarter. Capital International Investors now owns 13,545,628 shares of the company's stock valued at $645,449,000 after acquiring an additional 2,532,791 shares during the last quarter. Norges Bank acquired a new stake in Equitable in the fourth quarter valued at approximately $550,995,000. Finally, Canada Pension Plan Investment Board bought a new stake in Equitable in the second quarter worth approximately $399,576,000. Hedge funds and other institutional investors own 92.70% of the company's stock.
Insider Activity
In related news, CEO Mark Pearson sold 39,700 shares of the company's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $48.54, for a total transaction of $1,927,038.00. Following the completion of the transaction, the chief executive officer directly owned 753,403 shares in the company, valued at $36,570,181.62. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles G.T. Stonehill sold 7,500 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $51.54, for a total transaction 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. This represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 114,541 shares of company stock worth $5,357,784. Corporate insiders own 1.00% of the company's stock.
Equitable Price Performance
Shares of NYSE:EQH opened at $50.15 on Friday. The company has a market cap of $13.69 billion, a price-to-earnings ratio of -15.15, a PEG ratio of 0.49 and a beta of 1.09. The business has a 50 day moving average price of $48.30 and a 200 day moving average price of $43.58. 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 twelve month low of $35.19 and a twelve month high of $55.15.
Equitable (NYSE:EQH - Get Free Report) last issued its quarterly 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 positive return on equity of 511.35% and a negative net margin of 8.72%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the business posted $1.10 EPS. The company's revenue for the quarter was down 29.8% on a year-over-year basis. Research analysts predict that Equitable Holdings, Inc. will post 7.18 earnings per share for the current year.
Equitable Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors 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 dividend on an annualized basis and a yield of 2.4%. Equitable's payout ratio is -36.25%.
Analysts Set New Price Targets
EQH has been the topic of a number of recent research reports. Wolfe Research downgraded shares of Equitable from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Jefferies Financial Group upped their price objective on shares of Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. UBS Group increased their target price on shares of Equitable from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods raised 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. Finally, Zacks Research raised Equitable from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.75.
Read Our Latest Stock Analysis on Equitable
Equitable Profile
(
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.
Featured Stories
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
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Get This Free Report
