Point72 Hong Kong Ltd Invests $3.04 Million in Equitable Holdings, Inc. (NYSE:EQH)

Point72 Hong Kong Ltd bought a new stake in Equitable Holdings, Inc. (NYSE:EQH) during the 3rd quarter, Holdings Channel.com reports. The firm bought 72,345 shares of the company’s stock, valued at approximately $3,041,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EQH. Covestor Ltd lifted its stake 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 purchasing an additional 246 shares during the period. LRI Investments LLC lifted its stake in Equitable by 892.9% in the second quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock valued at $45,000 after buying an additional 1,000 shares during the period. Carolina Wealth Advisors LLC acquired a new position in Equitable in the third quarter valued at approximately $48,000. UMB Bank n.a. boosted its holdings 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 buying an additional 718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Equitable by 141.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,605 shares of the company’s stock worth $96,000 after buying an additional 1,526 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction dated 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 directly owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The trade was a 15.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the transaction, the chief executive officer now owns 648,555 shares of the company’s stock, valued at approximately $30,760,963.65. The trade was a 4.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,166 shares of company stock worth $4,443,605. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

EQH has been the topic of a number of research reports. Barclays boosted their target price on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley reduced their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.70.

Equitable Price Performance

EQH stock opened at $48.23 on Monday. The company has a market capitalization of $15.11 billion, a P/E ratio of -44.25 and a beta of 1.40. Equitable Holdings, Inc. has a 52-week low of $29.70 and a 52-week high of $50.51. The business has a 50-day simple moving average of $45.39 and a two-hundred day simple moving average of $42.43. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH) last announced its quarterly earnings results 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 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 prior year, the company posted $1.15 earnings per share. Equitable’s revenue was down 15.1% compared to the same quarter last year. Research analysts expect that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Tuesday, November 26th. Equitable’s payout ratio is currently -88.07%.

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.