Key Points
- Equitable insider Nick Lane sold 14,923 shares at an average price of $53.24, generating approximately $794,501. He retains 110,007 shares, reducing his position by 11.95%.
- Equitable reported quarterly EPS of $1.70, beating estimates by $0.05, but revenue fell 29.8% year over year to $1.66 billion and the company posted a negative net margin.
- The stock has a “Moderate Buy” consensus rating with a $61.75 average price target, while institutional investors own 92.7% of the company. Equitable also pays a $0.30 quarterly dividend, yielding about 2.3% annually.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) insider Nick Lane sold 14,923 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $53.24, for a total value of $794,500.52. Following the sale, the insider owned 110,007 shares of the company's stock, valued at approximately $5,856,772.68. The trade was a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Equitable Stock Performance
Shares of Equitable stock opened at $51.99 on Wednesday. The firm has a market capitalization of $14.20 billion, a P/E ratio of -15.71, a P/E/G ratio of 0.52 and a beta of 1.10. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $55.15. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The firm's 50 day moving average is $49.37 and its two-hundred day moving average is $43.91.
Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. The company's revenue was down 29.8% compared to the same quarter last year. Research analysts forecast that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.
Equitable Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.3%. Equitable's dividend payout ratio (DPR) is presently -36.25%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Evercore reissued an "outperform" rating and issued a $66.00 target price on shares of Equitable in a report on Thursday, August 20th. UBS Group raised their price target on Equitable from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Wolfe Research lowered Equitable from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Barclays boosted their price objective on Equitable from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods increased their price objective on Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.75.
View Our Latest Report on EQH
Institutional Investors Weigh In On Equitable
Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Equitable by 20.0% in the first quarter. The Manufacturers Life Insurance Company now owns 627,169 shares of the company's stock worth $23,274,000 after acquiring an additional 104,439 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Equitable by 13.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,976 shares of the company's stock valued at $14,965,000 after acquiring an additional 36,135 shares during the period. Norges Bank purchased a new stake in shares of Equitable during the 4th quarter worth $550,995,000. Diamond Hill Capital Management Inc. grew its stake in shares of Equitable by 114.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company's stock worth $204,640,000 after purchasing an additional 2,294,902 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Equitable by 301.2% during the 4th quarter. Intech Investment Management LLC now owns 146,829 shares of the company's stock worth $6,996,000 after purchasing an additional 110,235 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.
Equitable Company Profile
(
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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