Key Points
- CAO William James Iv Eckert sold 4,300 shares of Equitable on Dec. 10 at an average price of $47.27 for $203,261, trimming his stake by 21.58% to 15,625 shares.
- Recent quarter showed weakness: Equitable reported $1.48 EPS versus a $1.59 consensus and revenue of $1.45 billion (down 52.8% year-over-year), resulting in a negative net margin despite a high ROE.
- The company pays a quarterly dividend of $0.27 (annualized $1.08) for a ~2.2% yield, and analysts have a consensus "Moderate Buy" rating with an average price target of $64.18.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) CAO William James Iv Eckert sold 4,300 shares of the business's stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $47.27, for a total transaction of $203,261.00. Following the transaction, the chief accounting officer owned 15,625 shares in the company, valued at $738,593.75. This trade represents a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Equitable Price Performance
EQH stock opened at $49.04 on Friday. The stock has a market cap of $14.05 billion, a PE ratio of -17.86 and a beta of 1.12. Equitable Holdings, Inc. has a 12 month low of $41.39 and a 12 month high of $56.61. The company has a 50-day moving average price of $47.06 and a 200 day moving average price of $51.02. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 11.87.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.11). Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the business earned $1.58 EPS. The firm's revenue for the quarter was down 52.8% on a year-over-year basis. Equities research analysts anticipate 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 Monday, December 1st. Investors of record on Monday, November 24th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, November 24th. This represents a $1.08 dividend on an annualized basis and a yield of 2.2%. Equitable's payout ratio is presently -39.13%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on EQH shares. Evercore ISI increased their target price on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods upped their price target on shares of Equitable from $64.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, October 9th. Wall Street Zen lowered shares of Equitable from a "hold" rating to a "sell" rating in a report on Sunday, November 16th. Barclays restated an "overweight" rating and issued a $63.00 target price on shares of Equitable in a research note on Wednesday, October 8th. Finally, Wolfe Research raised shares of Equitable to a "strong-buy" rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.18.
Check Out Our Latest Research Report on EQH
Hedge Funds Weigh In On Equitable
Several institutional investors have recently bought and sold shares of EQH. Nordea Investment Management AB increased its holdings in shares of Equitable by 18.3% in the second quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company's stock valued at $223,168,000 after purchasing an additional 615,314 shares during the period. Pinnacle Associates Ltd. boosted its position in Equitable by 53.9% in the second quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company's stock valued at $971,000 after buying an additional 6,065 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in Equitable in the 2nd quarter worth approximately $817,000. Applied Finance Capital Management LLC purchased a new position in Equitable during the 2nd quarter worth approximately $434,000. Finally, Assetmark Inc. lifted its stake in Equitable by 3,555.3% during the 2nd quarter. Assetmark Inc. now owns 21,932 shares of the company's stock valued at $1,230,000 after acquiring an additional 21,332 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.
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.
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