Equitable Holdings, Inc. (NYSE: EQH – Get a rating) Director Bertram L. Scott sold 7,300 shares of the company in a trade dated Thursday, September 8. The shares were sold at an average price of $29.87, for a total value of $218,051.00. Following the completion of the sale, the administrator now directly owns 21,429 shares of the company, valued at approximately $640,084.23. The transaction was disclosed in a document filed with the SEC, accessible via this link.
Fair stock performance
EQH traded down $0.52 on Friday, hitting $30.56. 2,172,900 shares of the company were traded, with an average volume of 3,056,315. The company has a fifty-day simple moving average of $28.36 and a two-hundred-day simple moving average of $29.22 . Equitable Holdings, Inc. has a 12-month low of $24.61 and a 12-month high of $37.13. The stock has a market capitalization of $11.48 billion, a PE ratio of 3.80 and a beta of 1.43.
Fair Trade (NYSE: EQH – Get a rating) last released its quarterly earnings data on Wednesday, August 3. The company reported earnings per share of $1.31 for the quarter, hitting the consensus estimate of $1.31. The company posted revenue of $3.51 billion in the quarter, versus $3.32 billion expected by analysts. On average, stock analysts expect Equitable Holdings, Inc. to post earnings per share of 5.33 for the current year.
Announcement of a fair dividend
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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15. Shareholders of record on Monday August 8 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a yield of 2.62%. The ex-dividend date was Friday August 5th. Equitable’s dividend payout ratio (DPR) is currently 9.94%.
Wall Street analysts predict growth
Several research companies have weighed in on EQH. Morgan Stanley raised its price target on Equitable from $43.00 to $44.00 and gave the company an “overweight” rating in a Wednesday, August 17 report. Evercore ISI cut its price target on Equitable from $45.00 to $41.00 and set an “outperform” rating on the stock in a Wednesday, July 6 research report. Truist Financial cut its price target on Equitable from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday July 11. Citigroup began covering Equitable in a research report on Monday, May 23. They set a “buy” rating and a price target of $41.00 on the stock. Finally, Barclays raised its price target on Equitable from $32.00 to $36.00 and gave the company an “overweight” rating in a Thursday, August 18 research report. Ten investment analysts gave the stock a buy rating and one gave the company a high buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $41.67.
Institutional investors weigh in on Equitable
Several institutional investors and hedge funds have recently bought and sold shares of the company. Intersect Capital LLC increased its stake in Equitable by 122.8% in the second quarter. Intersect Capital LLC now owns 18,946 shares of the company worth $494,000 after purchasing an additional 10,441 shares during the period. Legal & General Group Plc increased its stake in Equitable shares by 10.6% in the second quarter. Legal & General Group Plc now owns 2,215,257 shares in the company valued at $57,752,000 after purchasing an additional 211,781 shares during the period. ExodusPoint Capital Management LP increased its stake in Equitable shares by 6.0% in Q2. ExodusPoint Capital Management LP now owns 172,274 shares of the company valued at $4,491,000 after purchasing an additional 9,748 shares during the period. Walleye Capital LLC increased its stake in Equitable shares by 18.9% in Q2. Walleye Capital LLC now owns 11,915 shares of the company valued at $311,000 after purchasing an additional 1,892 shares during the period. Finally, Algebris UK Ltd increased its stake in Equitable shares by 36.3% in the 2nd quarter. Algebris UK Ltd now owns 813,748 shares of the company valued at $21,214,000 after purchasing an additional 216,760 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s shares.
About Equitable
Equitable Holdings, Inc., together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a range of variable annuity products primarily to high net worth and high net worth individuals.
See also
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