Equitable Holdings, Inc. (NYSE:EQH) Stock Position Lessened by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 965,400 shares of the company’s stock after selling 4,600 shares during the period. Swiss National Bank owned approximately 0.30% of Equitable worth $40,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MQS Management LLC bought a new position in shares of Equitable in the third quarter valued at approximately $587,000. Friedenthal Financial bought a new position in Equitable during the 2nd quarter valued at $831,000. Maverick Capital Ltd. increased its position in shares of Equitable by 230.0% during the 2nd quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock valued at $1,505,000 after purchasing an additional 25,678 shares during the period. TCW Group Inc. raised its stake in shares of Equitable by 94.6% in the 2nd quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock worth $5,484,000 after buying an additional 65,232 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Equitable by 55.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock valued at $2,564,000 after buying an additional 22,346 shares during the period. 92.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EQH has been the topic of several recent research reports. Morgan Stanley decreased 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. Wells Fargo & Company raised their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Truist Financial boosted their price target on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price objective on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Equitable Trading Up 0.3 %

Shares of NYSE:EQH opened at $46.72 on Thursday. The firm has a fifty day moving average of $44.42 and a two-hundred day moving average of $42.02. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a 12-month low of $28.18 and a 12-month high of $50.51. The firm has a market capitalization of $14.64 billion, a P/E ratio of -42.86 and a beta of 1.40.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting the consensus estimate of $1.53. The business 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 firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. On average, equities analysts expect that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.05%. Equitable’s dividend payout ratio is currently -88.07%.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 of the company’s stock, valued at approximately $27,263,672.90. This trade represents a 4.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.53, for a total value of $316,834.98. Following the sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,166 shares of company stock valued at $5,709,605. Insiders own 1.10% of the company’s stock.

Equitable Company 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.