Corient Private Wealth LP Acquires New Shares in Equitable Holdings, Inc. $EQH

Key Points

• Corient Private Wealth acquired 19,824 Equitable Holdings shares worth approximately $870,000 during the second quarter. Institutional investors collectively own 92.70% of EQH.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $61.75. Several firms recently raised their targets to between $64 and $68.
• Equitable exceeded quarterly EPS expectations, reporting $1.70 versus the $1.65 consensus estimate, while revenue fell 29.8% year over year. The company also pays a quarterly dividend of $0.30 per share, representing a 2.3% yield.

Corient Private Wealth LP acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,824 shares of the company's stock, valued at approximately $870,000.

Other large investors have also added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of Equitable during the third quarter valued at about $26,000. Root Financial Partners LLC lifted its holdings in shares of Equitable by 64.1% in the first quarter. Root Financial Partners LLC now owns 888 shares of the company's stock worth $33,000 after buying an additional 347 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Equitable in the second quarter valued at approximately $33,000. Covestor Ltd boosted its position in shares of Equitable by 124.7% in the fourth quarter. Covestor Ltd now owns 728 shares of the company's stock valued at $35,000 after acquiring an additional 404 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Equitable during the third quarter valued at approximately $38,000. Institutional investors own 92.70% of the company's stock.

Wall Street Analysts Forecast Growth

EQH has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Equitable from $62.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Barclays raised their price target on shares of Equitable from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Zacks Research raised shares of Equitable from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. UBS Group increased their price objective on Equitable from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company increased their price objective on Equitable from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Equitable currently has an average rating of "Moderate Buy" and an average target price of $61.75.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 14,358 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $45.11, for a total transaction of $647,689.38. Following the completion of the sale, the chief operating officer directly owned 74,748 shares in the company, valued at $3,371,882.28. This represents a 16.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Stonehill sold 7,500 shares of the firm's 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 transaction, the director owned 34,357 shares in the company, valued at approximately $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 113,071 shares of company stock valued at $5,309,147. 1.00% of the stock is currently owned by corporate insiders.

Equitable Price Performance

Shares of NYSE:EQH opened at $52.85 on Friday. The company's fifty day moving average price is $49.03 and its 200-day moving average price is $43.82. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of -15.97, a PEG ratio of 0.52 and a beta of 1.10. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $55.15.

Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.84 billion. During the same period in the previous year, the firm posted $1.10 EPS. The firm's revenue was down 29.8% compared to the same quarter last year. On average, equities research analysts anticipate that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable's dividend payout ratio (DPR) is -36.25%.

Equitable 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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