Sessa Capital IM L.P. Sells 960,661 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Sessa Capital IM L.P. lowered its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 19.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,035,058 shares of the company’s stock after selling 960,661 shares during the quarter. Equitable accounts for 6.2% of Sessa Capital IM L.P.’s holdings, making the stock its 5th biggest position. Sessa Capital IM L.P. owned approximately 1.29% of Equitable worth $169,593,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC increased 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 acquiring an additional 3,155,487 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Equitable during the 2nd quarter worth approximately $110,176,000. Samlyn Capital LLC acquired a new stake in shares of Equitable in the 2nd quarter valued at approximately $63,334,000. Principal Financial Group Inc. boosted its holdings in shares of Equitable by 57.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock valued at $80,470,000 after buying an additional 721,028 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Equitable in the first quarter valued at $27,237,000. 92.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley lowered their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company upped their target price on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Equitable Price Performance

Shares of NYSE EQH opened at $46.80 on Friday. The stock has a market capitalization of $14.66 billion, a PE ratio of -42.94 and a beta of 1.40. Equitable Holdings, Inc. has a fifty-two week low of $28.19 and a fifty-two week 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 business has a fifty day moving average price of $44.57 and a two-hundred day moving average price of $42.06.

Equitable (NYSE:EQH) last posted 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 business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. Equitable’s revenue for the quarter was down 15.1% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be paid 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 2.05%. Equitable’s dividend payout ratio (DPR) is -88.07%.

Insider Buying and Selling at Equitable

In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at $819,596.82. The trade was a 15.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at $27,263,672.90. This trade represents a 4.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,166 shares of company stock worth $5,709,605 over the last three months. Corporate insiders own 1.10% of the company’s stock.

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.