2,696,427 Shares in Equitable Holdings, Inc. (NYSE:EQH) Bought by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,696,427 shares of the company’s stock, valued at approximately $110,176,000. Equitable comprises about 1.0% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 25th biggest holding.

A number of other large investors have also recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new stake in shares of Equitable during the 1st quarter valued at about $28,000. LRI Investments LLC bought a new stake in shares of Equitable in the 1st quarter valued at $45,000. Rise Advisors LLC lifted its position in shares of Equitable by 1,421.4% during the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after acquiring an additional 1,592 shares during the period. GAMMA Investing LLC boosted its stake in Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after acquiring an additional 405 shares in the last quarter. Finally, Quarry LP acquired a new stake in Equitable in the fourth quarter worth $76,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at approximately $4,806,775.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the transaction, the chief executive officer now owns 678,555 shares in the company, valued at $28,635,021. The disclosure for this sale can be found here. Insiders sold a total of 73,469 shares of company stock valued at $3,067,434 over the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EQH. Jefferies Financial Group increased their price objective on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lifted their price objective on shares of Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Morgan Stanley dropped their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Keefe, Bruyette & Woods increased their price objective on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Truist Financial raised their price target on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and an average price target of $46.64.

Equitable Stock Down 0.2 %

Shares of NYSE EQH opened at $42.21 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. The company has a market cap of $13.38 billion, a P/E ratio of 13.07 and a beta of 1.42. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $44.50. The business has a 50-day simple moving average of $40.87 and a two-hundred day simple moving average of $39.68.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS 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 company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the business earned $1.17 earnings per share. Equitable’s revenue was up 47.7% compared to the same quarter last year. Research analysts anticipate that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.24 per share. 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 2.27%. Equitable’s payout ratio is 29.72%.

Equitable Profile

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.