Equitable Holdings, Inc. (NYSE:EQH) Shares Purchased by Covestor Ltd

Covestor Ltd raised its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 61.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 646 shares of the company’s stock after purchasing an additional 246 shares during the quarter. Covestor Ltd’s holdings in Equitable were worth $27,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC grew its stake in Equitable by 60.9% during the 1st quarter. Intech Investment Management LLC now owns 100,476 shares of the company’s stock valued at $3,819,000 after purchasing an additional 38,040 shares in the last quarter. Friedenthal Financial bought a new position in Equitable during the 2nd quarter worth approximately $831,000. Maverick Capital Ltd. lifted its holdings in Equitable by 230.0% during the 2nd quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock worth $1,505,000 after buying an additional 25,678 shares during the last quarter. TCW Group Inc. lifted its holdings in Equitable by 94.6% during the 2nd quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock worth $5,484,000 after buying an additional 65,232 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Equitable by 55.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock worth $2,564,000 after buying an additional 22,346 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Analyst Ratings Changes

EQH has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Barclays increased their target price on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Truist Financial raised their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup raised their price target on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Equitable Stock Down 0.4 %

EQH opened at $47.44 on Friday. Equitable Holdings, Inc. has a 12 month low of $27.74 and a 12 month high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $14.86 billion, a P/E ratio of -43.52 and a beta of 1.40. The stock’s 50 day moving average price is $43.97 and its 200 day moving average price is $41.81.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, research analysts predict that Equitable Holdings, Inc. will post 6.03 earnings per share for the current year.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.53, for a total value of $316,834.98. Following the transaction, the chief operating officer now directly owns 105,246 shares in the company, valued at $5,002,342.38. The trade was a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the completion of the transaction, the chief executive officer now owns 678,555 shares in the company, valued at $28,635,021. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,166 shares of company stock worth $4,286,705. 1.10% of the stock is owned by company insiders.

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.