Equitable Holdings, Inc. $EQH Stock: Transmarket Holdings LP Increases Stake

Key Points

• Transmarket Holdings LP increased its Equitable Holdings stake by 415% in the third quarter, reaching 51,702 shares valued at approximately $2.65 million. Institutional investors collectively own 92.7% of EQH.
• Equitable shares opened at $54.64, near their 12-month high of $55.22. The company’s latest quarterly earnings of $1.70 per share exceeded analyst expectations of $1.65, although revenue fell 29.8% year over year.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $63.18, while company insiders sold 32,816 shares worth about $1.73 million during the quarter.

Transmarket Holdings LP boosted its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 415.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,702 shares of the company's stock after purchasing an additional 41,662 shares during the quarter. Equitable comprises approximately 1.5% of Transmarket Holdings LP's holdings, making the stock its 15th largest holding. Transmarket Holdings LP's holdings in Equitable were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. North Dakota State Investment Board lifted its position in shares of Equitable by 69.6% in the third quarter. North Dakota State Investment Board now owns 14,408 shares of the company's stock worth $739,000 after buying an additional 5,915 shares in the last quarter. VestGen Advisors LLC purchased a new position in Equitable during the 3rd quarter valued at approximately $216,000. Asset Management One Co. Ltd. bought a new stake in Equitable in the 3rd quarter worth approximately $2,193,000. Citizens Financial Group Inc. RI bought a new stake in Equitable in the 3rd quarter worth approximately $323,000. Finally, Fifth Third Wealth Advisors LLC increased 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. Institutional investors own 92.70% of the company's stock.

Equitable Trading Up 0.1%

EQH opened at $54.64 on Thursday. The stock has a 50-day moving average of $52.49 and a 200 day moving average of $45.85. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a 12 month low of $35.19 and a 12 month high of $55.22. The firm has a market cap of $14.92 billion, a P/E ratio of -16.51, a P/E/G ratio of 0.52 and a beta of 1.10.

Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.05. The business 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 quarterly revenue 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. As a group, research analysts forecast that Equitable Holdings, Inc. will post 7.17 EPS for the current year.

Insider Activity

In related news, Director Arlene Isaacs-Lowe sold 1,000 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $52.83, for a total value of $52,830.00. Following the completion of the sale, the director directly owned 19,763 shares in the company, valued at $1,044,079.29. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Stonehill sold 7,500 shares of the firm's stock in a transaction 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 sale, the director owned 34,357 shares of the company's stock, valued at approximately $1,770,759.78. This represents a 17.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,816 shares of company stock worth $1,731,591. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

EQH has been the topic of several recent research reports. Wolfe Research cut Equitable from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Evercore reissued an "outperform" rating and issued a $66.00 target price on shares of Equitable in a report on Thursday, August 20th. Jefferies Financial Group boosted their price target on shares of Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $65.00 price target on shares of Equitable in a research note on Friday, October 9th. Finally, Barclays increased their price objective on shares of Equitable from $52.00 to $61.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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