New Vernon Investment Management LLC Sells 75,920 Shares of Equitable Holdings, Inc. (NYSE:EQH)

New Vernon Investment Management LLC trimmed its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 92.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,568 shares of the company's stock after selling 75,920 shares during the period. New Vernon Investment Management LLC's holdings in Equitable were worth $310,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company's stock valued at $25,000 after acquiring an additional 352 shares during the period. Bessemer Group Inc. raised its holdings in shares of Equitable by 111.2% during the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after buying an additional 357 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company's stock valued at $38,000 after buying an additional 199 shares during the last quarter. Mizuho Bank Ltd. raised its holdings in shares of Equitable by 61.4% during the fourth quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company's stock valued at $53,000 after buying an additional 430 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Equitable by 298.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company's stock valued at $80,000 after buying an additional 1,265 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EQH. Barclays lifted their price target on Equitable from $60.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, January 6th. BMO Capital Markets increased their price target on Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Morgan Stanley dropped their price objective on Equitable from $68.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Truist Financial raised their target price on Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered their target price on Equitable from $62.00 to $59.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.91.

Equitable Trading Down 4.6 %

Shares of NYSE:EQH traded down $2.35 during midday trading on Wednesday, reaching $48.67. The company had a trading volume of 2,350,721 shares, compared to its average volume of 2,624,993. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. Equitable Holdings, Inc. has a 1-year low of $36.46 and a 1-year high of $56.00. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of 12.74 and a beta of 1.23. The company has a fifty day simple moving average of $50.32 and a two-hundred day simple moving average of $49.41.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). Equitable had a net margin of 10.51% and a return on equity of 85.70%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the business earned $1.43 EPS. The company's revenue for the quarter was up 105.2% compared to the same quarter last year. Research analysts predict that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. Equitable's payout ratio is presently 25.13%.

Insiders Place Their Bets

In other Equitable news, insider Nick Lane sold 5,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.12, for a total transaction of $255,600.00. Following the completion of the sale, the insider now directly owns 139,073 shares in the company, valued at approximately $7,109,411.76. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total value of $369,163.08. Following the sale, the chief operating officer now owns 104,298 shares of the company's stock, valued at approximately $5,776,023.24. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,332 shares of company stock worth $4,141,315. 1.10% of the stock is currently owned by company insiders.

Equitable Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.