Intech Investment Management LLC Purchases 2,765 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Intech Investment Management LLC increased its position in Equitable Holdings, Inc. (NYSE:EQH) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,091 shares of the company’s stock after buying an additional 2,765 shares during the period. Intech Investment Management LLC’s holdings in Equitable were worth $2,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in shares of Equitable by 24,432.7% in the second quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock valued at $129,444,000 after purchasing an additional 3,155,487 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Equitable in the 2nd quarter valued at approximately $110,176,000. Samlyn Capital LLC bought a new position in Equitable in the 2nd quarter worth approximately $63,334,000. Principal Financial Group Inc. lifted its holdings in shares of Equitable by 57.8% during the second quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock worth $80,470,000 after buying an additional 721,028 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Equitable in the first quarter valued at approximately $27,237,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Trading Up 1.8 %

EQH stock opened at $47.62 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. The firm has a market cap of $14.92 billion, a P/E ratio of -43.69 and a beta of 1.40. Equitable Holdings, Inc. has a 1-year low of $28.86 and a 1-year high of $50.51. The business’s 50 day moving average is $44.72 and its 200-day moving average is $42.13.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. Equities analysts anticipate that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a yield of 2.02%. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

Insiders Place Their Bets

In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated 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 owns 668,555 shares in the company, valued at $27,263,672.90. This represents a 4.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the firm’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 completion of the sale, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. The trade was a 15.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,166 shares of company stock valued at $5,709,605. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EQH. Truist Financial boosted their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays lifted their target price on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley cut their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Equitable currently has an average 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.