Key Points
- COO Jeffrey Hurd sold 6,790 shares on Dec. 15 at an average price of $48.35 for a total of $328,296.50, cutting his position by 9.9% to 61,813 shares (valued at about $2.99M).
- Equitable missed quarterly EPS ($1.48 vs. $1.59 expected) and reported revenue down 52.8% year-over-year, contributing to a negative net margin despite a high return on equity.
- The company pays a quarterly dividend of $0.27 (annualized $1.08, ~2.2% yield), and analysts hold a consensus "Moderate Buy" rating with a $64.33 target price.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) COO Jeffrey Hurd sold 6,790 shares of the company's stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $48.35, for a total transaction of $328,296.50. Following the transaction, the chief operating officer owned 61,813 shares of the company's stock, valued at $2,988,658.55. This represents a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Equitable Trading Up 0.0%
Shares of NYSE:EQH opened at $48.31 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 11.87. The company's 50-day moving average price is $46.90 and its 200 day moving average price is $50.89. The company has a market cap of $13.84 billion, a PE ratio of -17.50 and a beta of 1.12. Equitable Holdings, Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $56.61.
Equitable (NYSE:EQH - Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.11). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $3.65 billion. Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.Equitable's revenue for the quarter was down 52.8% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.
Equitable Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 24th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 2.2%. Equitable's dividend payout ratio is presently -39.13%.
Wall Street Analyst Weigh In
EQH has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Equitable in a research note on Monday. Evercore ISI raised their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Wall Street Zen cut shares of Equitable from a "hold" rating to a "sell" rating in a research note on Sunday, November 16th. Keefe, Bruyette & Woods raised their target price on shares of Equitable from $64.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, October 9th. Finally, Barclays reissued an "overweight" rating and set a $63.00 price objective on shares of Equitable in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.33.
Read Our Latest Research Report on EQH
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its stake 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 worth $223,168,000 after acquiring an additional 615,314 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Equitable by 53.9% in the second quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company's stock worth $971,000 after buying an additional 6,065 shares during the last quarter. Vinva Investment Management Ltd bought a new position in Equitable during the second quarter valued at approximately $817,000. Applied Finance Capital Management LLC acquired a new stake in Equitable in the second quarter valued at approximately $434,000. Finally, Assetmark Inc. grew its position in Equitable by 3,555.3% in the second quarter. Assetmark Inc. now owns 21,932 shares of the company's stock worth $1,230,000 after acquiring an additional 21,332 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
