Citigroup Inc. Decreases Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Citigroup Inc. cut its stake in Equitable Holdings, Inc. (NYSE:EQH) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 266,916 shares of the company’s stock after selling 4,695 shares during the quarter. Citigroup Inc.’s holdings in Equitable were worth $11,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd increased its stake in Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares in the last quarter. &PARTNERS boosted its position in shares of Equitable by 0.7% in the 2nd quarter. &PARTNERS now owns 34,328 shares of the company’s stock worth $1,403,000 after buying an additional 254 shares in the last quarter. iA Global Asset Management Inc. grew its stake in Equitable by 4.8% in the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock valued at $233,000 after acquiring an additional 280 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Equitable by 5.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock valued at $288,000 after acquiring an additional 332 shares in the last quarter. Finally, Capital Insight Partners LLC raised its position in Equitable by 2.6% during the second quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock worth $720,000 after acquiring an additional 440 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Price Performance

Equitable stock opened at $48.08 on Friday. Equitable Holdings, Inc. has a 1 year low of $29.29 and a 1 year high of $50.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a 50 day moving average price of $45.15 and a 200 day moving average price of $42.32. The company has a market cap of $15.07 billion, a price-to-earnings ratio of -44.11 and a beta of 1.40.

Equitable (NYSE:EQH) last issued its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 15.1% on a year-over-year basis. During the same period last year, the company posted $1.15 EPS. Sell-side analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQH. Truist Financial raised their price objective on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley cut their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company increased their price objective on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Barclays upped their target price on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and an average price target of $48.70.

Insider Activity at Equitable

In related news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the sale, the chief accounting officer now directly owns 19,321 shares in the company, valued at $819,596.82. The trade was a 15.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the transaction, the chief operating officer now owns 105,246 shares in the company, valued at approximately $5,002,342.38. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,166 shares of company stock worth $4,443,605. 1.10% of the stock is currently owned by corporate insiders.

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.