Key Points
- Nick Lane sold 30,000 Equitable shares on Dec. 18 at an average of $47.87 for about $1.44M, reducing his stake by 20.01% to 119,958 shares valued near $5.74M.
- Equitable missed the quarter with $1.48 EPS vs. $1.59 expected and revenue of $1.45B (down 52.8% YoY vs. $3.65B est), while still paying a $0.27 quarterly dividend (2.2% yield) and carrying an average analyst target of $64.33.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) insider Nick Lane sold 30,000 shares of the company's stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $47.87, for a total value of $1,436,100.00. Following the completion of the transaction, the insider owned 119,958 shares in the company, valued at $5,742,389.46. This represents a 20.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Equitable Stock Up 0.5%
Equitable stock opened at $48.04 on Friday. The firm's 50 day moving average price is $46.81 and its two-hundred day moving average price is $50.82. The firm has a market cap of $13.76 billion, a PE ratio of -17.41 and a beta of 1.12. Equitable Holdings, Inc. has a twelve month low of $41.39 and a twelve month high of $56.61. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.13 and a current ratio of 0.13.
Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company posted $1.58 earnings per share. The company's revenue was down 52.8% compared to the same quarter last year. On average, research analysts predict that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.
Equitable Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 24th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.2%. Equitable's dividend payout ratio (DPR) is -39.13%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Equitable in a research note on Monday. Wolfe Research upgraded shares of Equitable to a "strong-buy" rating in a report on Tuesday, September 16th. BMO Capital Markets reissued an "outperform" rating on shares of Equitable in a research report on Wednesday. Wells Fargo & Company cut their target price on 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 boosted their price target on Equitable from $64.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. One 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 MarketBeat.com, Equitable has an average rating of "Moderate Buy" and an average target price of $64.33.
View Our Latest Stock Analysis on Equitable
Institutional Investors Weigh In On Equitable
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB boosted its position in shares of Equitable by 18.3% during the 2nd quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company's stock valued at $223,168,000 after acquiring an additional 615,314 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Equitable by 53.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company's stock valued at $971,000 after purchasing an additional 6,065 shares during the period. Vinva Investment Management Ltd acquired a new position in shares of Equitable in the 2nd quarter worth approximately $817,000. Applied Finance Capital Management LLC bought a new position in shares of Equitable during the 2nd quarter worth approximately $434,000. Finally, Assetmark Inc. boosted its stake in Equitable by 3,555.3% in the 2nd quarter. Assetmark Inc. now owns 21,932 shares of the company's stock valued at $1,230,000 after buying 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 (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.
The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.
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