Elo Mutual Pension Insurance Co Decreases Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Elo Mutual Pension Insurance Co lessened its position in Equitable Holdings, Inc. (NYSE:EQH) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,735 shares of the company’s stock after selling 2,257 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Equitable were worth $1,174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EQH. Hsbc Holdings PLC lifted its position in shares of Equitable by 1,161.7% in the fourth quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after acquiring an additional 7,227,568 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Equitable by 24,432.7% in the second quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock valued at $129,444,000 after acquiring an additional 3,155,487 shares in the last quarter. Northern Trust Corp lifted its position in shares of Equitable by 24.6% in the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after acquiring an additional 781,426 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of 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 acquiring an additional 721,028 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Equitable in the first quarter valued at approximately $27,237,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

EQH has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Barclays initiated coverage on Equitable in a report on Wednesday, September 4th. They issued an “overweight” rating and a $59.00 price target for the company. Truist Financial increased their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup increased their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, UBS Group cut Equitable from a “buy” rating to a “neutral” rating and increased their price target for the company from $40.00 to $43.00 in a report on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.64.

Equitable Price Performance

EQH stock opened at $42.13 on Friday. The business has a fifty day moving average of $40.90 and a two-hundred day moving average of $39.41. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 13.04 and a beta of 1.42. Equitable Holdings, Inc. has a 52-week low of $24.65 and a 52-week high of $44.50.

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 return on equity of 87.49% and a net margin of 7.87%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. As a group, research analysts anticipate that Equitable Holdings, Inc. will post 6.01 earnings per share for the current year.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.28%. Equitable’s payout ratio is presently 29.72%.

Insider Activity

In other news, CAO William James Iv Eckert sold 3,500 shares of Equitable 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 sale, the chief accounting officer now directly owns 19,321 shares of the company’s stock, valued at $819,596.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 directly owns 678,555 shares in the company, valued at $28,635,021. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction on Thursday, September 19th. The shares were 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 owns 19,321 shares of the company’s stock, valued at $819,596.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,469 shares of company stock valued at $3,067,434. 1.10% of the stock is currently owned by corporate 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.