ProShare Advisors LLC Cuts Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

ProShare Advisors LLC trimmed its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,418 shares of the company’s stock after selling 888 shares during the period. ProShare Advisors LLC’s holdings in Equitable were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EQH. Symmetry Investments LP bought a new stake in shares of Equitable in the 2nd quarter worth approximately $309,000. Sei Investments Co. lifted its stake in Equitable by 5.1% in the second quarter. Sei Investments Co. now owns 347,475 shares of the company’s stock worth $14,198,000 after purchasing an additional 16,745 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Equitable by 5.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 76,771 shares of the company’s stock valued at $3,137,000 after buying an additional 3,673 shares during the period. XTX Topco Ltd grew its stake in shares of Equitable by 3.1% during the second quarter. XTX Topco Ltd now owns 33,228 shares of the company’s stock valued at $1,358,000 after buying an additional 985 shares during the last quarter. Finally, Kendall Capital Management increased its holdings in shares of Equitable by 3.1% in the second quarter. Kendall Capital Management now owns 112,729 shares of the company’s stock worth $4,606,000 after buying an additional 3,434 shares during the period. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of NYSE EQH opened at $41.98 on Monday. The stock has a market cap of $13.65 billion, a P/E ratio of 13.00 and a beta of 1.42. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50. The firm has a 50-day moving average of $40.86 and a 200 day moving average of $39.84.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 EPS. As a group, sell-side analysts expect that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Tuesday, August 6th. Equitable’s dividend payout ratio is presently 29.72%.

Analyst Ratings Changes

EQH has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods increased their price target on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Truist Financial upped their price objective on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup raised their target price on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company dropped their price objective on Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.64.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the transaction, the chief operating officer now directly owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Equitable 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 owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at $4,806,775.68. The disclosure for this sale can be found here. Insiders have sold a total of 73,469 shares of company stock worth $3,067,434 in the last quarter. Corporate insiders own 1.10% 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.