Bank of New York Mellon Corp Invests $93.47 Million in Equitable Holdings, Inc. $EQH

Bank of New York Mellon Corp bought a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,130,173 shares of the company's stock, valued at approximately $93,472,000. Bank of New York Mellon Corp owned about 0.78% of Equitable at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of EQH. Norges Bank acquired a new position in shares of Equitable in the fourth quarter worth about $550,995,000. Capital International Investors boosted its stake in Equitable by 23.0% in the 4th quarter. Capital International Investors now owns 13,545,628 shares of the company's stock worth $645,449,000 after purchasing an additional 2,532,791 shares during the period. Bank of Montreal Can boosted its stake in Equitable by 7,955.4% in the 4th quarter. Bank of Montreal Can now owns 2,424,823 shares of the company's stock worth $116,585,000 after purchasing an additional 2,394,721 shares during the period. Diamond Hill Capital Management Inc. grew its position in Equitable by 114.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company's stock worth $204,640,000 after purchasing an additional 2,294,902 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Equitable by 337.4% during the 3rd quarter. Millennium Management LLC now owns 1,502,360 shares of the company's stock valued at $76,290,000 after purchasing an additional 1,158,890 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.

Equitable Price Performance

NYSE EQH opened at $49.02 on Tuesday. The stock has a 50-day simple moving average of $47.95 and a 200 day simple moving average of $43.43. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15. The stock has a market capitalization of $13.39 billion, a PE ratio of -14.81, a P/E/G ratio of 0.48 and a beta of 1.09. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15.

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. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The company's revenue for the quarter was down 29.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Research analysts anticipate that Equitable Holdings, Inc. will post 7.16 EPS for the current year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. Equitable's dividend payout ratio (DPR) is currently -36.25%.

Insider Transactions at Equitable

In other news, CAO William James Iv Eckert sold 947 shares of the stock in a transaction on Monday, August 10th. The shares were 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 owned 8,419 shares in the company, valued at approximately $445,196.72. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles G.T. Stonehill sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $51.54, for a total value of $386,550.00. Following the completion of the transaction, the director directly owned 34,357 shares of the company's stock, valued at approximately $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 114,541 shares of company stock worth $5,357,784. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EQH. Mizuho set a $68.00 price target on shares of Equitable in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lowered their price target on shares of Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group increased their price objective on Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Wolfe Research cut shares of Equitable from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.75.

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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