Lecap Asset Management Ltd. Acquires Shares of 45,104 Equitable Holdings, Inc. (NYSE:EQH)

Lecap Asset Management Ltd. bought a new position in Equitable Holdings, Inc. (NYSE:EQH) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 45,104 shares of the company’s stock, valued at approximately $1,896,000.

Several other large investors have also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new position in Equitable during the first quarter worth $28,000. LRI Investments LLC bought a new position in Equitable during the 1st quarter valued at about $45,000. Carolina Wealth Advisors LLC purchased a new stake in Equitable in the 3rd quarter worth about $48,000. UMB Bank n.a. raised 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 purchasing an additional 718 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Equitable by 141.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,605 shares of the company’s stock worth $96,000 after purchasing an additional 1,526 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

Shares of EQH opened at $46.06 on Wednesday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50 day moving average price of $41.94 and a 200-day moving average price of $40.64. Equitable Holdings, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $46.17. The stock has a market capitalization of $14.98 billion, a PE ratio of 14.26 and a beta of 1.41.

Equitable (NYSE:EQH) last announced its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $1.17 EPS. Equities analysts predict that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.24 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a yield of 2.08%. Equitable’s dividend payout ratio is presently 29.72%.

Insider Buying and Selling at Equitable

In other news, 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 value of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the company’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,500 shares of company stock valued at $3,969,870. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EQH. Keefe, Bruyette & Woods increased their price target on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Truist Financial lifted their target price on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley decreased their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

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.