Sanctuary Advisors LLC Purchases Shares of 10,861 Equitable Holdings, Inc. (NYSE:EQH)

Sanctuary Advisors LLC purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 10,861 shares of the company’s stock, valued at approximately $444,000.

Several other hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers boosted its stake in shares of Equitable by 19.3% in the second quarter. Cetera Investment Advisers now owns 23,832 shares of the company’s stock worth $974,000 after acquiring an additional 3,860 shares during the period. Truist Financial Corp boosted its stake in shares of Equitable by 32.3% in the second quarter. Truist Financial Corp now owns 8,929 shares of the company’s stock worth $365,000 after acquiring an additional 2,180 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Equitable in the second quarter worth about $9,867,000. Quarry LP boosted its stake in shares of Equitable by 623.5% in the second quarter. Quarry LP now owns 2,366 shares of the company’s stock worth $97,000 after acquiring an additional 2,039 shares during the period. Finally, Invst LLC boosted its stake in shares of Equitable by 5.0% in the second quarter. Invst LLC now owns 23,881 shares of the company’s stock worth $975,000 after acquiring an additional 1,139 shares during the period. Institutional investors own 92.70% of the company’s stock.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the 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 sale, the chief executive officer now directly owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on 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 directly owns 668,555 shares in the company, valued at $27,263,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,500 shares of company stock worth $3,969,870. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup increased their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial increased their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods increased their price target on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Morgan Stanley dropped their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their price objective on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

Equitable Trading Up 1.1 %

Shares of NYSE EQH opened at $44.57 on Thursday. 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 business’s 50 day moving average price is $41.34 and its 200-day moving average price is $40.38. Equitable Holdings, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $44.76. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 13.80 and a beta of 1.41.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, sell-side analysts expect that Equitable Holdings, Inc. will post 6.03 earnings per share for the current year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.24 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.15%. Equitable’s payout ratio is 29.72%.

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.