Key Points
- Director Craig Mackay sold 2,000 Equitable shares at an average price of $54.27, receiving $108,540 and reducing his holdings by 10.53% to 16,999 shares.
- Equitable reported quarterly EPS of $1.70, beating estimates by $0.05, although revenue fell 29.8% year over year to $1.66 billion. The company pays a quarterly dividend of $0.30, equivalent to a 2.2% annual yield.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $61.82, compared with the stock’s reported $54.00 opening price; institutional investors own 92.7% of shares.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) Director Craig Mackay sold 2,000 shares of the business's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $54.27, for a total transaction of $108,540.00. Following the transaction, the director owned 16,999 shares of the company's stock, valued at $922,535.73. This trade represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Equitable Stock Performance
NYSE:EQH opened at $54.00 on Friday. The stock has a market cap of $14.74 billion, a P/E ratio of -16.31, a PEG ratio of 0.53 and a beta of 1.10. 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 business's 50-day moving average price is $50.54 and its two-hundred day moving average price is $44.55. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15.
Equitable (NYSE:EQH - Get Free Report) last posted 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. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. Equitable's revenue for the quarter was down 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. As a group, equities analysts predict that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.
Equitable Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable's dividend payout ratio is currently -36.25%.
Hedge Funds Weigh In On Equitable
Several institutional investors and hedge funds have recently bought and sold shares of EQH. Covestor Ltd increased its stake in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock worth $35,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Equitable during the second quarter valued at approximately $33,000. Root Financial Partners LLC boosted 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 purchasing an additional 347 shares during the period. Essential Partners LLC grew its holdings in shares of Equitable by 245.2% in the first quarter. Essential Partners LLC now owns 1,084 shares of the company's stock worth $40,000 after purchasing an additional 770 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Equitable in the second quarter worth $55,000. 92.70% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Mizuho set a $68.00 target price on Equitable in a research report on Thursday, August 6th. Wolfe Research cut shares of Equitable from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.82.
View Our Latest Stock Report on Equitable
About Equitable
(
Get Free Report)
Equitable Holdings, Inc is a financial services company that provides retirement, life insurance and wealth management solutions. Its businesses serve individuals, families, employers and institutions through financial professionals and advisory channels.
The company's principal operations include Equitable, which offers individual life insurance, annuities, retirement plans and employee benefits, and Equitable Advisors, which provides financial planning and investment advice. Equitable Holdings also owns a majority interest in AllianceBernstein, a global investment management firm serving institutional and retail clients.
The company traces its history to 1859, when the Equitable Life Assurance Society of the United States was founded.
Further Reading
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