Summit Global Investments Purchases Shares of 17,119 Equitable Holdings, Inc. (NYSE:EQH)

Summit Global Investments acquired a new position in Equitable Holdings, Inc. (NYSE:EQH) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 17,119 shares of the company’s stock, valued at approximately $720,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New Covenant Trust Company N.A. bought a new position in shares of Equitable in the first quarter valued at $28,000. LRI Investments LLC purchased a new stake in shares of Equitable during the first quarter valued at $45,000. Carolina Wealth Advisors LLC acquired a new position in shares of Equitable in the 3rd quarter valued at $48,000. UMB Bank n.a. increased its stake in Equitable by 86.3% in 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, EverSource Wealth Advisors LLC raised its holdings in Equitable by 141.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,605 shares of the company’s stock worth $96,000 after buying an additional 1,526 shares during the period. 92.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial raised their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley cut their target price on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company lifted 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, Barclays increased their price objective on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.70.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the transaction, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at $27,263,672.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the company’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 completion of the sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at $27,263,672.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,500 shares of company stock valued at $3,969,870. Insiders own 1.10% of the company’s stock.

Equitable Stock Performance

Shares of EQH stock opened at $47.36 on Friday. The firm has a market cap of $14.84 billion, a P/E ratio of -43.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. Equitable Holdings, Inc. has a fifty-two week low of $25.88 and a fifty-two week high of $50.51. The stock’s 50-day moving average is $43.26 and its two-hundred day moving average is $41.47.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 earnings per share. Analysts predict that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Equitable 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.