Kendall Capital Management Acquires 3,434 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Kendall Capital Management raised its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,729 shares of the company’s stock after acquiring an additional 3,434 shares during the quarter. Equitable makes up approximately 1.5% of Kendall Capital Management’s holdings, making the stock its 15th biggest position. Kendall Capital Management’s holdings in Equitable were worth $4,606,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Truist Financial Corp grew its stake in shares of Equitable by 9.5% in the fourth quarter. Truist Financial Corp now owns 7,888 shares of the company’s stock valued at $263,000 after buying an additional 684 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Equitable by 261.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,269 shares of the company’s stock valued at $76,000 after purchasing an additional 1,641 shares during the period. Securian Asset Management Inc. bought a new position in shares of Equitable in the fourth quarter valued at about $894,000. Dynamic Technology Lab Private Ltd acquired a new position in Equitable in the 4th quarter valued at about $362,000. Finally, Trexquant Investment LP bought a new position in Equitable in the 4th quarter valued at about $834,000. 92.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods increased their price target on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Barclays assumed coverage on shares of Equitable in a report on Wednesday, September 4th. They issued an “overweight” rating and a $59.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, Truist Financial increased their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and an average target price of $46.64.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the sale, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the transaction, the chief operating officer now owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the transaction, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The disclosure for this sale can be found here. Insiders have sold 69,969 shares of company stock worth $2,918,964 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Performance

NYSE EQH opened at $41.36 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 12.80 and a beta of 1.42. The firm’s 50 day simple moving average is $40.90 and its 200 day simple moving average is $39.38. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50.

Equitable (NYSE:EQH) last issued its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. As a group, research analysts expect that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a yield of 2.32%. Equitable’s dividend payout ratio is currently 29.72%.

About Equitable

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.