Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 20.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,964 shares of the company’s stock after selling 1,794 shares during the period. Pitcairn Co.’s holdings in Equitable were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Equitable by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock worth $166,855,000 after buying an additional 539,904 shares during the last quarter. Acadian Asset Management LLC boosted its position in Equitable by 24,432.7% in the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after purchasing an additional 3,155,487 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Equitable during the 2nd quarter valued at approximately $110,176,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Equitable by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,165,115 shares of the company’s stock valued at $91,000,000 after purchasing an additional 68,900 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Equitable by 57.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock worth $80,470,000 after acquiring an additional 721,028 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Stock Performance

Shares of EQH opened at $48.06 on Thursday. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of -44.09 and a beta of 1.40. Equitable Holdings, Inc. has a 52-week low of $29.29 and a 52-week high of $50.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average price of $45.02 and a 200 day moving average price of $42.28.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the company earned $1.15 earnings per share. Equitable’s quarterly revenue was down 15.1% compared to the same quarter last year. Research analysts predict that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable’s dividend payout ratio is currently -88.07%.

Insider Transactions at Equitable

In related news, CAO William James Iv Eckert sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the sale, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. This represents a 15.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Monday, September 16th. The stock was 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 owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The trade was a 4.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,166 shares of company stock worth $4,443,605 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on EQH shares. Morgan Stanley decreased their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Truist Financial increased their price target on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays upped their price target on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.70.

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.