Assenagon Asset Management S.A. Has $6.87 Million Stake in Equitable Holdings, Inc. (NYSE:EQH)

Assenagon Asset Management S.A. reduced its position in Equitable Holdings, Inc. (NYSE:EQH) by 34.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,349 shares of the company’s stock after selling 85,611 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.05% of Equitable worth $6,866,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Equitable by 24,432.7% during the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after acquiring an additional 3,155,487 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Equitable during the second quarter worth approximately $110,176,000. Samlyn Capital LLC acquired a new stake in Equitable during the second quarter worth approximately $63,334,000. Principal Financial Group Inc. lifted its stake in Equitable by 57.8% in the second quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock valued at $80,470,000 after buying an additional 721,028 shares during the period. Finally, Swedbank AB acquired a new position in Equitable in the first quarter valued at approximately $27,237,000. Institutional investors own 92.70% of the company’s stock.

Equitable Trading Up 1.9 %

Shares of Equitable stock opened at $45.84 on Tuesday. The company has a market capitalization of $14.53 billion, a P/E ratio of 19.10 and a beta of 1.41. The stock has a fifty day simple moving average of $42.36 and a 200 day simple moving average of $40.86. Equitable Holdings, Inc. has a 12-month low of $24.65 and a 12-month high of $46.30. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (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 during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue was up 47.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the completion of the transaction, the chief executive officer now owns 658,555 shares in the company, valued at approximately $29,239,842. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $148,470.00. Following the completion of the sale, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,500 shares of company stock valued at $3,969,870. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on EQH shares. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Truist Financial boosted their price objective on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and an average price target of $48.70.

About Equitable

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.