Equitable Holdings, Inc. (NYSE:EQH) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 32.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,929 shares of the company’s stock after purchasing an additional 2,180 shares during the quarter. Truist Financial Corp’s holdings in Equitable were worth $365,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Equitable in the first quarter worth $28,000. LRI Investments LLC acquired a new position in shares of Equitable during the first quarter valued at $45,000. GAMMA Investing LLC boosted its holdings in shares of Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after acquiring an additional 405 shares during the period. Quarry LP boosted its holdings in shares of Equitable by 623.5% during the second quarter. Quarry LP now owns 2,366 shares of the company’s stock valued at $97,000 after acquiring an additional 2,039 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Equitable by 215.1% during the second quarter. Blue Trust Inc. now owns 2,590 shares of the company’s stock valued at $98,000 after acquiring an additional 1,768 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQH. Wells Fargo & Company boosted their price target on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Citigroup boosted their price target on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Jefferies Financial Group boosted their price target on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.70.

Insiders Place Their Bets

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 668,555 shares in the company, valued at approximately $27,263,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction dated 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 of the company’s stock, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 value of $1,223,400.00. Following the completion of the transaction, the chief executive officer now directly owns 668,555 shares in the company, valued at $27,263,672.90. This represents a 0.00 % decrease in their position. 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 owned by corporate insiders.

Equitable Price Performance

Shares of Equitable stock opened at $45.53 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The company’s 50-day moving average price is $41.49 and its two-hundred day moving average price is $40.42. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $45.62. The stock has a market cap of $14.81 billion, a PE ratio of 14.10 and a beta of 1.41.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.40 by $0.03. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business earned $1.17 earnings per share. Equitable’s revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is presently 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.