Jeffrey J. Hurd Sells 6,666 Shares of Equitable Holdings, Inc. (NYSE:EQH) Stock

Equitable Holdings, Inc. (NYSE:EQH) COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $47.31, for a total value of $315,368.46. Following the completion of the sale, the chief operating officer now owns 98,875 shares in the company, valued at $4,677,776.25. The trade was a 6.32 % 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.

Equitable Stock Performance

Equitable stock traded down $0.77 during mid-day trading on Tuesday, reaching $46.55. 2,285,446 shares of the company’s stock were exchanged, compared to its average volume of 2,487,188. The business’s fifty day simple moving average is $46.52 and its 200 day simple moving average is $42.95. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a one year low of $31.76 and a one year high of $50.51. The firm has a market capitalization of $14.59 billion, a PE ratio of -42.72 and a beta of 1.38.

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

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.96 annualized dividend and a dividend yield of 2.06%. Equitable’s payout ratio is currently -88.07%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EQH. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Morgan Stanley decreased their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Barclays boosted their price target on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and an average price target of $50.10.

Hedge Funds Weigh In On Equitable

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in Equitable by 2.7% in the 3rd quarter. State Street Corp now owns 12,976,870 shares of the company’s stock worth $545,418,000 after buying an additional 338,205 shares during the period. Wellington Management Group LLP increased its holdings in shares of Equitable by 3.0% in the third quarter. Wellington Management Group LLP now owns 5,513,571 shares of the company’s stock worth $231,735,000 after purchasing an additional 161,376 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Equitable by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock valued at $166,855,000 after acquiring an additional 539,904 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Equitable by 24,432.7% during the second quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after purchasing an additional 3,155,487 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Equitable in the second quarter worth approximately $110,176,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

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.