Invst LLC Purchases 1,139 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Invst LLC increased its position in Equitable Holdings, Inc. (NYSE:EQH) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,881 shares of the company’s stock after purchasing an additional 1,139 shares during the period. Invst LLC’s holdings in Equitable were worth $975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in shares of Equitable in the 1st quarter worth about $28,000. LRI Investments LLC purchased a new position in shares of Equitable during the first quarter valued at approximately $45,000. Rise Advisors LLC boosted its position in shares of Equitable by 1,421.4% in the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after purchasing an additional 1,592 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after buying an additional 405 shares during the last quarter. Finally, Quarry LP bought a new position in Equitable during the 4th quarter valued at approximately $76,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

NYSE EQH opened at $41.98 on Monday. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 13.00 and a beta of 1.42. Equitable Holdings, Inc. has a 1-year low of $24.65 and a 1-year high of $44.50. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12. The business’s fifty day moving average price is $40.86 and its 200-day moving average price is $39.84.

Equitable (NYSE:EQH) last announced 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. The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period last year, the firm posted $1.17 earnings per share. On average, equities analysts predict that Equitable Holdings, Inc. will post 6.01 earnings per share for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a yield of 2.29%. Equitable’s dividend payout ratio is currently 29.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group downgraded shares of Equitable from a “buy” rating to a “neutral” rating and increased their price objective for the company from $40.00 to $43.00 in a research report on Tuesday, June 18th. Citigroup lifted their target price on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays started coverage on shares of Equitable in a report on Wednesday, September 4th. They set an “overweight” rating and a $59.00 price target on the stock. Finally, Truist Financial upped their price objective on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.64.

Insiders Place Their Bets

In other news, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00. Following the completion of the sale, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at $28,635,021. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction 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. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,469 shares of company stock worth $3,067,434. Company insiders own 1.10% of the company’s stock.

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.