Ashton Thomas Private Wealth LLC Cuts Position in Equitable Holdings, Inc. (NYSE:EQH)

Ashton Thomas Private Wealth LLC reduced its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,072 shares of the company’s stock after selling 1,431 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Equitable were worth $2,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of EQH. Norges Bank purchased a new position in Equitable during the 4th quarter valued at about $606,630,000. Hsbc Holdings PLC grew its holdings in shares of Equitable by 1,161.7% in the fourth quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after purchasing an additional 7,227,568 shares in the last quarter. Acadian Asset Management LLC increased its stake in Equitable by 24,432.7% during the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after buying an additional 3,155,487 shares during the period. Principal Financial Group Inc. lifted its holdings in Equitable by 1,105.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,242,941 shares of the company’s stock worth $41,390,000 after buying an additional 1,139,814 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Equitable by 24.6% in the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock worth $131,815,000 after acquiring an additional 781,426 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the transaction, the chief operating officer now owns 121,521 shares of the company’s stock, valued at $4,814,662.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $39.62, for a total value of $394,971.78. Following the completion of the sale, the chief operating officer now owns 121,521 shares in the company, valued at $4,814,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares in the company, valued at approximately $28,635,021. The disclosure for this sale can be found here. In the last three months, insiders sold 49,938 shares of company stock valued at $2,090,536. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EQH. Truist Financial lifted their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. UBS Group lowered shares of Equitable from a “buy” rating to a “neutral” rating and upped their target price for the stock from $40.00 to $43.00 in a research note on Tuesday, June 18th. Jefferies Financial Group lifted their price target on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company lowered their target price on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.64.

Equitable Trading Up 1.0 %

EQH opened at $39.97 on Tuesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $44.50. The business’s 50 day moving average is $41.01 and its two-hundred day moving average is $39.14. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 12.37 and a beta of 1.42.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the business posted $1.17 earnings per share. Equitable’s quarterly revenue was up 47.7% on a year-over-year basis. On average, research analysts predict that Equitable Holdings, Inc. will post 6.01 EPS for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.40%. The ex-dividend date was Tuesday, August 6th. Equitable’s payout ratio is 29.72%.

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.