Key Points
- Insider sale: Equitable insider Nick Lane sold 4,417 shares on May 15 at an average price of $42.45, worth about $187,502. The sale left him with 124,218 shares and was made under a pre-arranged Rule 10b5-1 plan.
- Recent insider activity: Lane has also sold 10,000 shares on both April 8 and April 15, suggesting a pattern of stock reduction over the past month.
- Company snapshot: Equitable beat quarterly earnings and revenue estimates in its latest report, and it also has a $1 billion share buyback authorization in place. Analysts currently rate the stock a “Moderate Buy” with a consensus target price of $58.18.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) insider Nick Lane sold 4,417 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.45, for a total transaction of $187,501.65. Following the transaction, the insider directly owned 124,218 shares in the company, valued at $5,273,054.10. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nick Lane also recently made the following trade(s):
- On Wednesday, April 15th, Nick Lane sold 10,000 shares of Equitable stock. The stock was sold at an average price of $40.44, for a total transaction of $404,400.00.
- On Wednesday, April 8th, Nick Lane sold 10,000 shares of Equitable stock. The stock was sold at an average price of $40.04, for a total transaction of $400,400.00.
Equitable Stock Performance
Shares of EQH stock opened at $42.75 on Tuesday. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.11 and a current ratio of 0.11. The company's 50-day simple moving average is $39.70 and its 200-day simple moving average is $43.69. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $56.61. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of -15.05, a PEG ratio of 0.46 and a beta of 1.13.
Equitable (NYSE:EQH - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.02. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter last year, the company posted $1.35 earnings per share. Equitable's revenue was down 7.6% on a year-over-year basis. Equities analysts anticipate that Equitable Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.
Equitable declared that its Board of Directors has initiated a share buyback program on Wednesday, February 11th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in EQH. Johnson Financial Group Inc. acquired a new position in shares of Equitable during the third quarter valued at approximately $26,000. Root Financial Partners LLC increased its stake in shares of Equitable by 64.1% during the first quarter. Root Financial Partners LLC now owns 888 shares of the company's stock valued at $33,000 after acquiring an additional 347 shares during the period. Covestor Ltd increased its stake in shares of Equitable by 124.7% during the fourth quarter. Covestor Ltd now owns 728 shares of the company's stock valued at $35,000 after acquiring an additional 404 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Equitable during the third quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock valued at $46,000 after acquiring an additional 424 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Equitable from a "hold" rating to a "strong sell" rating in a report on Thursday, January 22nd. Mizuho raised their target price on shares of Equitable from $58.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Equitable from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. UBS Group dropped their price target on shares of Equitable from $66.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Finally, Weiss Ratings lowered shares of Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Equitable has an average rating of "Moderate Buy" and a consensus price target of $58.18.
Get Our Latest Stock Analysis on EQH
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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