Kintayl Capital LP Buys New Shares in Equitable Holdings, Inc. $EQH

Key Points

• Kintayl Capital initiated a position in Equitable Holdings by purchasing 134,260 shares valued at approximately $5.9 million. Institutional investors collectively own 92.7% of EQH’s outstanding stock.
• Wall Street sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $61.75, above the stock’s reported $48.90 opening price.
• 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 maintains a quarterly dividend of $0.30 per share, representing a 2.5% annualized yield.

Kintayl Capital LP bought a new position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 134,260 shares of the company's stock, valued at approximately $5,891,000. Equitable accounts for about 2.3% of Kintayl Capital LP's holdings, making the stock its 13th largest holding.

Other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in Equitable during the second quarter valued at about $20,377,000. EFG International AG bought a new position in shares of Equitable in the second quarter worth about $6,952,000. Canada Pension Plan Investment Board purchased a new stake in shares of Equitable during the second quarter worth about $399,576,000. Legal & General Group Plc purchased a new stake in shares of Equitable during the second quarter worth about $30,023,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Equitable during the 2nd quarter valued at approximately $28,506,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Insiders Place Their Bets

In other news, Director Craig C. Mackay sold 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total transaction of $113,014.00. Following the transaction, the director owned 18,999 shares of the company's stock, valued at approximately $975,978.63. The trade was a 10.38% decrease in their position. The transaction was disclosed in a document filed 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 on Thursday, August 6th. The shares were sold at an average price of $51.54, for a total value of $386,550.00. Following the sale, the director owned 34,357 shares in the company, valued at $1,770,759.78. The trade was a 17.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders 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 analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Equitable from $62.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on shares of Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Barclays boosted their target price on shares of Equitable from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Jefferies Financial Group upped their target price 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. Finally, Wells Fargo & Company raised their target price on shares of Equitable from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Equitable Stock Performance

Shares of NYSE:EQH opened at $48.90 on Wednesday. The firm has a fifty day simple moving average of $48.03 and a two-hundred day simple moving average of $43.46. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $55.15. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The stock has a market capitalization of $13.35 billion, a P/E ratio of -14.77, a PEG ratio of 0.48 and a beta of 1.09.

Equitable (NYSE:EQH - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same period in the prior year, the company earned $1.10 EPS. The business's revenue was down 29.8% compared to the same quarter last year. On average, analysts expect that Equitable Holdings, Inc. will post 7.16 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given 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 yield of 2.5%. Equitable's dividend payout ratio is -36.25%.

About Equitable

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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