Key Points
- Equitable COO Jeffrey Hurd sold 6,790 shares on Nov. 17 at an average price of $43.28 for about $293,871, reducing his position by 9.04% to 68,308 shares.
- In the latest quarter Equitable reported EPS $1.48, missing the $1.59 consensus, with revenue down 52.8% year‑over‑year, and the company declared a quarterly dividend of $0.27 (2.5% yield).
- Analysts hold a "Moderate Buy" consensus with a $64.18 target, and institutional investors own about 92.7% of the stock after sizable stake increases by several large funds.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) COO Jeffrey Hurd sold 6,790 shares of the business's stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $43.28, for a total transaction of $293,871.20. Following the completion of the transaction, the chief operating officer owned 68,308 shares in the company, valued at $2,956,370.24. This trade represents a 9.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Equitable Trading Up 0.5%
NYSE EQH opened at $43.14 on Wednesday. The stock has a market capitalization of $12.36 billion, a P/E ratio of -15.63 and a beta of 1.17. The business has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $51.76. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.13 and a quick ratio of 0.13. Equitable Holdings, Inc. has a one year low of $41.39 and a one year high of $56.61.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.11). Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the company posted $1.58 EPS. Equitable's revenue for the quarter was down 52.8% on a year-over-year basis. Research analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.
Equitable Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 24th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 2.5%. Equitable's dividend payout ratio is -39.13%.
Analyst Ratings Changes
A number of brokerages have issued reports on EQH. Barclays reiterated an "overweight" rating and issued a $63.00 price objective on shares of Equitable in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. Morgan Stanley lowered their target price on Equitable from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Wells Fargo & Company cut their price target on shares of Equitable from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, November 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Equitable from $64.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.18.
Read Our Latest Stock Analysis on EQH
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Equitable in the 2nd quarter valued at about $703,060,000. Capital International Investors increased its stake in shares of Equitable by 49.5% in the third quarter. Capital International Investors now owns 11,012,837 shares of the company's stock worth $559,232,000 after purchasing an additional 3,645,301 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Equitable by 23.4% in the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock valued at $566,662,000 after purchasing an additional 2,061,496 shares during the period. Geode Capital Management LLC raised its position in shares of Equitable by 26.4% in the second quarter. Geode Capital Management LLC now owns 7,428,619 shares of the company's stock valued at $415,786,000 after purchasing an additional 1,551,551 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Equitable by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,789,138 shares of the company's stock valued at $301,536,000 after buying an additional 265,759 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.
About Equitable
(
Get Free Report)
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.
Further Reading
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