Key Points
- Director Bertram Scott sold 2,780 Equitable shares at an average price of $54.35, generating $151,093. Following the sale, he retained 23,685 shares, reducing his position by 10.5%.
- Equitable reported quarterly earnings of $1.70 per share, beating estimates of $1.65, although revenue fell 29.8% year over year to $1.66 billion.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $61.82, while the company pays a quarterly dividend of $0.30 per share, yielding approximately 2.2%.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) Director Bertram Scott sold 2,780 shares of Equitable stock in a transaction on Monday, September 21st. The shares were sold at an average price of $54.35, for a total transaction of $151,093.00. Following the completion of the transaction, the director directly owned 23,685 shares of the company's stock, valued at $1,287,279.75. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Equitable Trading Up 0.0%
Shares of Equitable stock opened at $53.96 on Tuesday. The firm has a 50-day simple moving average of $50.66 and a two-hundred day simple moving average of $44.68. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. Equitable Holdings, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $55.15. The company has a market cap of $14.73 billion, a P/E ratio of -16.30, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.Equitable's revenue for the quarter was down 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, equities analysts predict that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.
Equitable Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable's dividend payout ratio (DPR) is presently -36.25%.
Analyst Ratings Changes
A number of equities analysts have commented on EQH shares. Keefe, Bruyette & Woods increased their target price on Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Barclays lifted their target price on shares of Equitable from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Jefferies Financial Group increased their price target on shares of Equitable from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Mizuho set a $68.00 price target on shares of Equitable in a research report on Thursday, August 6th. Finally, Wolfe Research cut Equitable from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.82.
Read Our Latest Report on Equitable
Institutional Trading of Equitable
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in shares of Equitable by 2.3% during the second quarter. Tidal Investments LLC now owns 31,661 shares of the company's stock worth $1,389,000 after buying an additional 709 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Equitable by 91.6% in the 2nd quarter. Squarepoint Ops LLC now owns 205,053 shares of the company's stock valued at $8,998,000 after buying an additional 98,023 shares during the period. Nykredit A S acquired a new position in Equitable during the 2nd quarter worth about $376,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Equitable during the 2nd quarter valued at about $2,606,000. Finally, Wedmont Private Capital acquired a new position in Equitable in the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 92.70% of the company's stock.
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.
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