Jupiter Topco LLC Buys Shares of 162,826 Equitable Holdings, Inc. $EQH

Key Points

• Jupiter Topco LLC acquired 162,826 Equitable Holdings shares worth approximately $7.15 million, representing a 0.06% stake. Institutional investors collectively own 92.7% of the company.
• Equitable reported quarterly EPS of $1.70, beating estimates of $1.65, although revenue fell 29.8% year over year to $1.66 billion. The company also maintains a quarterly dividend of $0.30, yielding 2.4% annually.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $61.75 versus the stock’s reported price of $50.15; meanwhile, insiders have sold more than 114,000 shares over the past 90 days.

Jupiter Topco LLC purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 162,826 shares of the company's stock, valued at approximately $7,145,000. Jupiter Topco LLC owned 0.06% of Equitable as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in Equitable in the 3rd quarter valued at about $26,000. Root Financial Partners LLC grew its position in Equitable by 64.1% in the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company's stock worth $33,000 after purchasing an additional 347 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Equitable in the 2nd quarter worth about $33,000. Covestor Ltd increased its stake 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 purchasing an additional 404 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Equitable in the third quarter valued at approximately $38,000. Institutional investors own 92.70% of the company's stock.

Equitable Trading Down 0.1%

Equitable stock opened at $50.15 on Monday. The firm has a 50 day simple moving average of $48.30 and a 200-day simple moving average of $43.57. 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 stock has a market capitalization of $13.69 billion, a PE ratio of -15.15, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $55.15.

Equitable (NYSE:EQH - Get Free Report) last announced its 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 firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. As a group, equities research analysts expect that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO William James Iv Eckert sold 947 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $52.88, for a total transaction of $50,077.36. Following the completion of the transaction, the chief accounting officer owned 8,419 shares of the company's stock, valued at $445,196.72. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $48.54, for a total value of $1,927,038.00. Following the transaction, the chief executive officer directly owned 753,403 shares in the company, valued at approximately $36,570,181.62. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 114,541 shares of company stock valued at $5,357,784. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EQH shares. Barclays boosted 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. Mizuho set a $68.00 target price on Equitable in a research report on Thursday, August 6th. Jefferies Financial Group lifted their target price on Equitable from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Evercore reissued an "outperform" rating and issued a $66.00 price target on shares of Equitable in a research note on Thursday, August 20th. Finally, Keefe, Bruyette & Woods raised their price target on Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Equitable has an average rating of "Moderate Buy" and a consensus target price of $61.75.

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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