Equitable Holdings, Inc. (NYSE:EQH) Holdings Cut by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 56.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,630 shares of the company’s stock after selling 44,207 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Equitable were worth $1,455,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EQH. Covestor Ltd boosted its position in Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares during the last quarter. &PARTNERS grew its stake in shares of Equitable by 0.7% in the 2nd quarter. &PARTNERS now owns 34,328 shares of the company’s stock valued at $1,403,000 after buying an additional 254 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Equitable by 5.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock worth $288,000 after buying an additional 332 shares during the last quarter. 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 valued at $720,000 after acquiring an additional 440 shares in the last quarter. Finally, Creative Planning lifted its stake in Equitable by 3.6% in the third quarter. Creative Planning now owns 13,541 shares of the company’s stock valued at $569,000 after acquiring an additional 476 shares during the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Stock Performance

EQH opened at $46.38 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average price is $46.12 and its two-hundred day moving average price is $42.77. The firm has a market capitalization of $14.53 billion, a P/E ratio of -42.55 and a beta of 1.38. Equitable Holdings, Inc. has a 12-month low of $31.76 and a 12-month high of $50.51.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company posted $1.15 earnings per share. Equitable’s quarterly revenue was down 15.1% on a year-over-year basis. On average, equities analysts forecast that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Tuesday, November 26th. Equitable’s dividend payout ratio is currently -88.07%.

Insider Activity at Equitable

In related news, 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 completion of the transaction, the chief accounting officer now directly owns 19,321 shares of the company’s stock, valued at $819,596.82. This trade represents 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 this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Friday, November 15th. The stock was sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the sale, the chief executive officer now owns 648,555 shares in the company, valued at $30,760,963.65. This represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,166 shares of company stock worth $4,443,605. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EQH shares. Morgan Stanley cut their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and raised their target price for the company from $54.00 to $58.00 in a report on Monday. Barclays upped their price target on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their target price on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.10.

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.