EFG International AG Takes Position in Equitable Holdings, Inc. $EQH

Key Points

• EFG International AG purchased 158,413 shares of Equitable Holdings during the second quarter, establishing a position worth approximately $6.95 million. Institutional investors collectively own 92.7% of EQH.
• Equitable reported quarterly EPS of $1.70, beating the $1.65 consensus estimate, but revenue fell 29.8% year over year to $1.66 billion. The company maintains a quarterly dividend of $0.30 per share, yielding about 2.5% annually.
• Analysts hold a generally positive view, with a “Moderate Buy” consensus rating and an average price target of $61.75 versus the stock’s reported price of $48.90. However, insiders sold more than 114,000 shares worth approximately $5.36 million over the past 90 days.

EFG International AG purchased a new position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 158,413 shares of the company's stock, valued at approximately $6,952,000. EFG International AG owned about 0.06% of Equitable at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new stake in Equitable during the 3rd quarter worth $26,000. Root Financial Partners LLC lifted its stake 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. acquired a new position in Equitable during the second quarter worth about $33,000. Covestor Ltd boosted its position in Equitable by 124.7% during the fourth quarter. Covestor Ltd now owns 728 shares of the company's stock worth $35,000 after acquiring an additional 404 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Equitable during the 3rd quarter valued at about $38,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Stock Down 0.3%

EQH stock opened at $48.90 on Wednesday. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $55.15. The firm has a market cap of $13.35 billion, a PE ratio of -14.77, a PEG ratio of 0.48 and a beta of 1.09. The firm's 50 day moving average price is $48.03 and its 200-day moving average price is $43.46. 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 data on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The firm's revenue for the quarter was down 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. On average, equities research analysts anticipate that Equitable Holdings, Inc. will post 7.16 EPS for the current year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.30 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. Equitable's dividend payout ratio is currently -36.25%.

Wall Street Analyst Weigh In

EQH has been the topic of several recent research reports. Weiss Ratings cut Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on Equitable from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Barclays lifted their price objective on Equitable from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Evercore restated an "outperform" rating and issued a $66.00 target price on shares of Equitable in a report on Thursday, August 20th. Finally, Zacks Research raised shares of Equitable from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $61.75.

Insider Activity

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction dated 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 owned 753,403 shares of the company's stock, valued at $36,570,181.62. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bertram L. Scott sold 1,466 shares of Equitable stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $51.15, for a total transaction of $74,985.90. Following the sale, the director owned 26,465 shares of the company's stock, valued at approximately $1,353,684.75. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 114,541 shares of company stock worth $5,357,784. 1.00% of the stock is currently owned by corporate insiders.

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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