Geode Capital Management LLC trimmed its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 17.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,675,311 shares of the company's stock after selling 1,230,519 shares during the quarter. Geode Capital Management LLC owned 1.81% of Equitable worth $238,002,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its stake in Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 246 shares during the period. LRI Investments LLC raised its position in shares of Equitable by 892.9% during the second quarter. LRI Investments LLC now owns 1,112 shares of the company's stock worth $45,000 after purchasing an additional 1,000 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of Equitable in the 3rd quarter valued at approximately $48,000. UMB Bank n.a. increased its stake in Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company's stock worth $65,000 after purchasing an additional 718 shares in the last quarter. Finally, Quarry LP raised its holdings in Equitable by 623.5% during the 2nd quarter. Quarry LP now owns 2,366 shares of the company's stock worth $97,000 after buying an additional 2,039 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.
Several research firms have recently weighed in on EQH. Barclays upped their price target on shares of Equitable from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Equitable from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Wells Fargo & Company boosted their price target on Equitable from $43.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Finally, Morgan Stanley decreased their price objective on Equitable from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Equitable currently has an average rating of "Moderate Buy" and a consensus price target of $50.10.
Get Our Latest Stock Analysis on Equitable
EQH stock opened at $47.47 on Friday. The company has a market cap of $14.87 billion, a price-to-earnings ratio of -43.55 and a beta of 1.38. Equitable Holdings, Inc. has a twelve month low of $31.76 and a twelve month high of $50.51. The business has a 50 day moving average price of $46.42 and a two-hundred day moving average price of $42.89. 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 (NYSE:EQH - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the business earned $1.15 earnings per share. The firm's revenue was down 15.1% on a year-over-year basis. Analysts anticipate that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.
The company also recently disclosed 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 was Tuesday, November 26th. This represents a $0.96 annualized dividend and a dividend yield of 2.02%. Equitable's dividend payout ratio is presently -88.07%.
In related news, CAO William James Iv Eckert sold 3,500 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were 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 in the company, valued at approximately $819,596.82. This represents a 15.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares of the company's stock, valued at $27,263,672.90. This trade represents a 4.29 % 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 valued at $4,443,605. 1.10% of the stock is owned by company insiders.
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.
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