Key Points
- Insider sale: Nick Lane sold 30,000 shares of Equitable (EQH) on Jan. 15 at an average price of $47.65 for $1,429,500, reducing his stake by 23.08% to 99,958 shares (≈$4.76M).
- This follows a prior sale on Dec. 18 of another 30,000 shares at $47.87 (≈$1.436M), indicating repeated insider selling in recent months.
- EQH opened at $46.80 (down ~1.1%); analysts maintain a consensus Buy rating with a $62.54 target, despite recent price-target cuts from firms like UBS and Wells Fargo.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) COO Jeffrey Hurd sold 6,790 shares of the firm's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $323,543.50. Following the completion of the transaction, the chief operating officer directly owned 55,023 shares in the company, valued at $2,621,845.95. This represents a 10.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Equitable Price Performance
Equitable stock opened at $46.80 on Friday. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $13.41 billion, a price-to-earnings ratio of -16.96 and a beta of 1.13. The firm has a 50-day moving average of $46.87 and a two-hundred day moving average of $50.01. Equitable Holdings, Inc. has a 1 year low of $41.39 and a 1 year high of $56.61.
Equitable (NYSE:EQH - Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.11). The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $3.65 billion. Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.The business's revenue was down 52.8% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. On average, research analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.
Equitable Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 24th were given 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 yield of 2.3%. Equitable's payout ratio is -39.13%.
Institutional Investors Weigh In On Equitable
A number of large investors have recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new stake in Equitable during the 3rd quarter worth approximately $26,000. True Wealth Design LLC raised its holdings in shares of Equitable by 592.6% in the second quarter. True Wealth Design LLC now owns 561 shares of the company's stock worth $31,000 after buying an additional 480 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Equitable during the third quarter worth $36,000. Hilltop National Bank acquired a new stake in shares of Equitable during the third quarter worth $37,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Equitable during the third quarter valued at $38,000. Hedge funds and other institutional investors own 92.70% of the company's stock.
Analyst Ratings Changes
EQH has been the topic of several research reports. UBS Group cut their price target on Equitable from $77.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Barclays set a $58.00 target price on shares of Equitable in a research report on Thursday, January 8th. The Goldman Sachs Group set a $60.00 price target on shares of Equitable in a report on Monday, January 5th. Wall Street Zen downgraded shares of Equitable from a "hold" rating to a "sell" rating in a research note on Sunday, November 16th. Finally, Evercore ISI boosted their price objective on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Equitable has an average rating of "Buy" and an average price target of $62.54.
View Our Latest Research Report on Equitable
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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