42,770 Shares of Equitable Holdings, Inc. $EQH Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One acquired 42,770 shares of Equitable Holdings worth approximately $2.19 million, while other institutions also added positions. Institutional investors and hedge funds now own 92.7% of EQH.
• Equitable exceeded quarterly expectations, reporting $2.13 in earnings per share versus the $1.86 consensus estimate and $3.88 billion in revenue, up 167.7% year over year.
• Analysts maintain a generally positive outlook, with EQH holding a “Moderate Buy” consensus rating and an average price target of $63.18 versus its reported $54.21 share price. However, insiders sold 32,816 shares worth about $1.73 million during the quarter.

Asset Management One Co. Ltd. acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 42,770 shares of the company's stock, valued at approximately $2,193,000.

A number of other institutional investors also recently bought and sold shares of EQH. Citizens Financial Group Inc. RI purchased a new stake in Equitable during the 3rd quarter worth approximately $323,000. Fifth Third Wealth Advisors LLC raised its stake in Equitable by 92.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 19,851 shares of the company's stock worth $1,018,000 after acquiring an additional 9,519 shares during the last quarter. MBL Wealth LLC purchased a new position in Equitable in the 3rd quarter worth $240,000. Root Financial Partners LLC acquired a new stake in Equitable during the 3rd quarter worth about $34,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Equitable during the 3rd quarter worth about $256,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Craig C. Mackay sold 2,000 shares of Equitable stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $54.27, for a total transaction of $108,540.00. Following the completion of the transaction, the director directly owned 16,999 shares of the company's stock, valued at $922,535.73. The trade was a 10.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William Eckert, IV sold 947 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.88, for a total transaction of $50,077.36. Following the completion of the transaction, the chief accounting officer owned 8,419 shares of the company's stock, valued at approximately $445,196.72. This represents a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 32,816 shares of company stock worth $1,731,591. Corporate insiders own 1.00% of the company's stock.

Equitable Stock Up 0.7%

Shares of EQH opened at $54.21 on Tuesday. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $55.67. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of -16.38, a PEG ratio of 0.54 and a beta of 1.10. The stock's 50-day moving average price is $52.79 and its 200-day moving average price is $45.95.

Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.27. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%. The company had revenue of $3.88 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period last year, the business earned $1.48 earnings per share. Equitable's quarterly revenue was up 167.7% on a year-over-year basis. On average, sell-side analysts predict that Equitable Holdings, Inc. will post 7.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQH. Wolfe Research cut Equitable from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Jefferies Financial Group upped their target price on Equitable from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings upgraded Equitable from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Raymond James Financial reiterated a "strong-buy" rating and issued a $65.00 price target on shares of Equitable in a report on Friday, October 9th. Finally, Evercore reissued an "outperform" rating and set a $66.00 price target on shares of Equitable in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Equitable has an average rating of "Moderate Buy" and an average target price of $63.18.

Equitable Profile

Equitable Holdings, Inc NYSE: EQH is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.

Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.

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.