Equitable (NYSE:EQH) Director Sells 2,000 Shares of Stock

Key Points

• Director Craig Mackay sold 2,000 Equitable shares at an average price of $54.27, generating $108,540 and reducing his stake by 10.53% to 16,999 shares.
• Equitable reported quarterly EPS of $1.70, beating estimates of $1.65, but revenue fell 29.8% year over year to $1.66 billion.
• The company maintains a quarterly dividend of $0.30 per share, equal to a $1.20 annualized payout and a 2.2% yield; analysts’ consensus rating is “Moderate Buy” with an average price target of $61.82.

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) Director Craig Mackay sold 2,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $54.27, for a total transaction of $108,540.00. Following the sale, the director owned 16,999 shares of the company's stock, valued at $922,535.73. This trade represents a 10.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Equitable Stock Performance

EQH traded down $0.04 during trading on Friday, reaching $54.00. The company's stock had a trading volume of 12,691,661 shares, compared to its average volume of 3,619,953. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of -16.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. Equitable Holdings, Inc. has a 52-week low of $35.19 and a 52-week high of $55.15. The company's fifty day moving average price is $50.40 and its 200-day moving average price is $44.48. 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 announced its quarterly earnings results 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. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the firm posted $1.10 EPS. The business's revenue was down 29.8% compared to the same quarter last year. On average, equities analysts forecast that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently declared 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 of this dividend was Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.2%. Equitable's dividend payout ratio (DPR) is presently -36.25%.

Analyst Upgrades and Downgrades

Several research firms have commented on EQH. UBS Group lifted their price target on Equitable from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Weiss Ratings cut shares of Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 5th. Evercore restated an "outperform" rating and set a $66.00 price objective on shares of Equitable in a research note on Thursday, August 20th. Keefe, Bruyette & Woods raised their target price on Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price target 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 issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in Equitable by 20.0% during the first quarter. The Manufacturers Life Insurance Company now owns 627,169 shares of the company's stock valued at $23,274,000 after buying an additional 104,439 shares in the last quarter. Norges Bank bought a new position in Equitable during the 4th quarter worth approximately $550,995,000. Diamond Hill Capital Management Inc. grew its position in shares of Equitable by 114.8% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company's stock worth $204,640,000 after acquiring an additional 2,294,902 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Equitable by 301.2% in the 4th quarter. Intech Investment Management LLC now owns 146,829 shares of the company's stock valued at $6,996,000 after acquiring an additional 110,235 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Equitable by 24.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 336,272 shares of the company's stock valued at $12,473,000 after acquiring an additional 66,009 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.

Equitable Company Profile

Equitable Holdings, Inc is a financial services company that provides retirement, life insurance and wealth management solutions. Its businesses serve individuals, families, employers and institutions through financial professionals and advisory channels.

The company's principal operations include Equitable, which offers individual life insurance, annuities, retirement plans and employee benefits, and Equitable Advisors, which provides financial planning and investment advice. Equitable Holdings also owns a majority interest in AllianceBernstein, a global investment management firm serving institutional and retail clients.

The company traces its history to 1859, when the Equitable Life Assurance Society of the United States was founded.

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