Advent International L.P. Has $475,000 Stock Holdings in Equitable Holdings, Inc. $EQH

Key Points

• Advent International sharply reduced its Equitable Holdings stake by 97.6% in the first quarter, selling 521,700 shares and retaining 12,810 shares valued at approximately $475,000.
• Equitable reported quarterly EPS of $1.62, beating estimates of $1.60, while revenue reached $4.23 billion. However, revenue declined 7.6% year over year and the company posted a negative net margin.
• The company declared a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 payout and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $60.08.

Advent International L.P. decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 97.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,810 shares of the company's stock after selling 521,700 shares during the period. Equitable accounts for about 0.0% of Advent International L.P.'s portfolio, making the stock its 28th biggest position. Advent International L.P.'s holdings in Equitable were worth $475,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in EQH. Johnson Financial Group Inc. acquired a new position in Equitable in the third quarter valued at approximately $26,000. Covestor Ltd grew its position in shares of Equitable by 124.7% during the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock worth $35,000 after buying an additional 404 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Equitable in the 3rd quarter valued at $38,000. Geneos Wealth Management Inc. increased its stake in shares of Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock valued at $46,000 after acquiring an additional 424 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of 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 acquiring an additional 347 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.

Equitable Stock Up 1.2%

Shares of NYSE EQH opened at $48.57 on Tuesday. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.11 and a quick ratio of 0.11. The company has a 50-day moving average price of $44.61 and a 200-day moving average price of $42.92. The stock has a market capitalization of $13.26 billion, a P/E ratio of -17.10, a P/E/G ratio of 0.47 and a beta of 1.10. Equitable Holdings, Inc. has a 1 year low of $35.19 and a 1 year high of $55.24.

Equitable (NYSE:EQH - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.02. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $1.35 EPS. The firm's revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Equitable Holdings, Inc. will post 7.11 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 3rd. Equitable's payout ratio is currently -42.25%.

Analyst Upgrades and Downgrades

A number of research firms have commented on EQH. Jefferies Financial Group raised their price target on shares of Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Barclays decreased their target price on Equitable from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, July 7th. Wolfe Research lowered Equitable from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Evercore set a $63.00 price objective on Equitable and gave the company an "outperform" rating in a research note on Thursday, April 9th. Finally, Weiss Ratings upgraded Equitable from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.08.

Insider Transactions at Equitable

In other news, Director Bertram L. Scott sold 2,470 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $41.08, for a total value of $101,467.60. Following the completion of the sale, the director directly owned 27,931 shares of the company's stock, valued at $1,147,405.48. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $45.28, for a total value of $1,797,616.00. Following the completion of the transaction, the chief executive officer owned 765,903 shares in the company, valued at $34,680,087.84. This represents a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 88,803 shares of company stock valued at $3,913,078. Corporate insiders own 1.10% of the company's stock.

About Equitable

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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