Pzena Investment Management LLC Sells 2,210,545 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Pzena Investment Management LLC reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 11.9% during the third quarter, Holdings Channel reports. The institutional investor owned 16,432,139 shares of the company’s stock after selling 2,210,545 shares during the quarter. Equitable comprises 2.2% of Pzena Investment Management LLC’s portfolio, making the stock its 21st biggest holding. Pzena Investment Management LLC owned 0.05% of Equitable worth $690,643,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd raised its holdings in Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 246 shares in the last quarter. &PARTNERS boosted its position in shares of Equitable by 0.7% during the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock valued at $1,403,000 after buying an additional 254 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Equitable by 4.8% during the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock valued at $233,000 after acquiring an additional 280 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Equitable by 5.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock worth $288,000 after buying an additional 332 shares during the last quarter. Finally, US Bancorp DE boosted its position in Equitable by 4.4% in the first quarter. US Bancorp DE now owns 10,068 shares of the company’s stock worth $383,000 after purchasing an additional 423 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction that occurred on 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 approximately $819,596.82. This represents a 15.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on 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 completion of the sale, the chief executive officer now directly 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. In the last ninety days, insiders have sold 130,166 shares of company stock valued at $5,709,605. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Performance

Shares of EQH stock traded up $0.16 during trading hours on Wednesday, hitting $46.76. The stock had a trading volume of 181,154 shares, compared to its average volume of 2,488,494. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. Equitable Holdings, Inc. has a twelve month low of $28.18 and a twelve month high of $50.51. The stock’s 50 day moving average is $44.26 and its 200 day moving average is $41.99. The firm has a market capitalization of $14.65 billion, a PE ratio of -42.76 and a beta of 1.40.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. Equitable’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. As a group, research analysts forecast that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable’s dividend payout ratio is presently -88.07%.

Analyst Ratings Changes

Several research firms recently issued reports on EQH. Truist Financial increased their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Citigroup boosted their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley cut their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Finally, Barclays increased their price objective 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

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.