Equitable Holdings, Inc. (NYSE:EQH) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 711,855 shares of the company’s stock after buying an additional 7,720 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Equitable worth $29,919,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its position in shares of Equitable by 3.5% during the 1st 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in Equitable by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock valued at $166,855,000 after purchasing an additional 539,904 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Equitable by 24,432.7% in the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock valued at $129,444,000 after buying an additional 3,155,487 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Equitable during the 2nd quarter worth approximately $110,176,000. Finally, Principal Financial Group Inc. lifted its holdings in Equitable by 57.8% in the second quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock valued at $80,470,000 after acquiring an additional 721,028 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Price Performance

Shares of NYSE:EQH opened at $47.44 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. Equitable Holdings, Inc. has a 12 month low of $27.74 and a 12 month high of $50.51. The firm has a market capitalization of $14.86 billion, a P/E ratio of -43.52 and a beta of 1.40. The company’s fifty day moving average price is $43.97 and its 200 day moving average price is $41.85.

Equitable (NYSE:EQH) last announced its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.53. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. As a group, sell-side analysts predict that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Activity

In other Equitable news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the transaction, the chief executive officer now directly owns 668,555 shares in the company, valued at approximately $27,263,672.90. The trade was a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the sale, the chief operating officer now owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,166 shares of company stock valued at $4,286,705 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on EQH shares. Truist Financial lifted 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. Morgan Stanley decreased their target price 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. Barclays lifted their price target on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup upped their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

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.