Trust Point Inc. Takes Position in Equitable Holdings, Inc. (NYSE:EQH)

Trust Point Inc. acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,390 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQH. Versant Capital Management Inc boosted its holdings in Equitable by 195.6% during the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock valued at $25,000 after acquiring an additional 352 shares during the period. Covestor Ltd lifted its position in shares of Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 246 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in Equitable in the 3rd quarter valued at approximately $48,000. UMB Bank n.a. increased its position 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 buying an additional 718 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Equitable by 298.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company’s stock worth $80,000 after buying an additional 1,265 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Price Performance

Equitable stock opened at $52.23 on Friday. The business has a 50 day simple moving average of $49.40 and a 200 day simple moving average of $45.31. Equitable Holdings, Inc. has a one year low of $32.72 and a one year high of $54.82. The company has a market capitalization of $16.36 billion, a PE ratio of -47.91 and a beta of 1.39. 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 (NYSE:EQH) last issued its earnings results on Wednesday, February 5th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. On average, sell-side analysts forecast that Equitable Holdings, Inc. will post 6 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Tuesday, November 26th. Equitable’s payout ratio is -88.07%.

Insider Activity

In other Equitable news, CAO William James Iv Eckert sold 1,700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the sale, the chief accounting officer now owns 17,677 shares in the company, valued at approximately $825,162.36. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total transaction of $364,296.90. Following the transaction, the chief operating officer now owns 92,209 shares in the company, valued at $5,039,221.85. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,032 shares of company stock worth $7,587,971. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQH. Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $54.00 to $58.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on shares of Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays increased their target price on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. BMO Capital Markets initiated coverage on Equitable in a research note on Thursday, January 23rd. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on Equitable from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

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.