OVERSEA CHINESE BANKING Corp Ltd Acquires 3,407 Shares of Equitable Holdings, Inc. (NYSE:EQH)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 47.0% in the third quarter, Holdings Channel reports. The firm owned 10,653 shares of the company’s stock after purchasing an additional 3,407 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Equitable were worth $448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQH. Covestor Ltd grew its holdings in shares of Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after acquiring an additional 246 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Equitable during the first quarter worth about $28,000. LRI Investments LLC acquired a new position in Equitable during the first quarter valued at approximately $45,000. Carolina Wealth Advisors LLC bought a new position in Equitable in the third quarter valued at approximately $48,000. Finally, UMB Bank n.a. increased its position in shares of Equitable by 86.3% during 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 last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EQH shares. Barclays increased their price objective on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. 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 research report on Monday, August 19th. Citigroup boosted 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. Truist Financial raised their target price on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

Insider Buying and Selling at Equitable

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the sale, the chief operating officer now directly owns 105,246 shares in the company, valued at approximately $5,002,342.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the completion of the transaction, the chief operating officer now owns 105,246 shares in the company, valued at $5,002,342.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the business’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 sale, the chief executive officer now directly owns 668,555 shares in the company, valued at $27,263,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,166 shares of company stock worth $4,286,705. 1.10% of the stock is currently owned by insiders.

Equitable Price Performance

Shares of NYSE:EQH opened at $47.92 on Thursday. Equitable Holdings, Inc. has a one year low of $26.96 and a one year high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $15.02 billion, a price-to-earnings ratio of -43.96 and a beta of 1.40. The firm has a 50 day simple moving average of $43.67 and a 200 day simple moving average of $41.70.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the company earned $1.15 EPS. Equitable’s revenue was down 15.1% compared to the same quarter last year. Research analysts predict that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

About Equitable

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.