Point72 Europe London LLP Makes New $5.19 Million Investment in Equitable Holdings, Inc. (NYSE:EQH)

Point72 Europe London LLP purchased a new position in Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, HoldingsChannel reports. The firm purchased 126,900 shares of the company’s stock, valued at approximately $5,185,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Equitable by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock valued at $1,265,815,000 after purchasing an additional 446,752 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Equitable by 3.5% in the first quarter. Canada Pension Plan Investment Board now owns 18,804,685 shares of the company’s stock valued at $714,766,000 after acquiring an additional 637,916 shares during the period. First Trust Advisors LP raised its stake in shares of Equitable by 0.3% in the fourth quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock valued at $207,553,000 after acquiring an additional 18,475 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Equitable by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock worth $166,855,000 after acquiring an additional 539,904 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Equitable by 24.6% during the 4th quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after purchasing an additional 781,426 shares during the last quarter. 92.70% of the stock is owned by institutional investors.

Insider Transactions at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was 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 directly owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Equitable 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 value 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 filing with the SEC, which is available at this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. The disclosure for this sale can be found here. Insiders sold 73,469 shares of company stock valued at $3,067,434 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Equitable Stock Performance

EQH stock opened at $42.21 on Wednesday. Equitable Holdings, Inc. has a one year low of $24.65 and a one year high of $44.50. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 13.07 and a beta of 1.42. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. The firm 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 posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.40 by $0.03. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.71 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. Equitable’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. On average, equities analysts forecast that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.27%. Equitable’s dividend payout ratio is presently 29.72%.

Analyst Ratings Changes

EQH has been the subject of several recent analyst reports. Truist Financial boosted their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company reduced their target price on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Jefferies Financial Group upped their price objective on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods boosted 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.64.

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.