Equitable Holdings, Inc. (NYSE:EQH) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 711,855 shares of the company’s stock after purchasing an additional 7,720 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Equitable were worth $29,919,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EQH. Covestor Ltd raised its stake in shares of Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after buying an additional 246 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Equitable in the first quarter worth $28,000. LRI Investments LLC purchased a new position in Equitable in the first quarter worth $45,000. Carolina Wealth Advisors LLC acquired a new stake in Equitable in the third quarter valued at $48,000. Finally, UMB Bank n.a. boosted 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 in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the transaction, the chief executive officer now owns 678,555 shares of the company’s stock, valued at $28,635,021. This represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business’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 transaction of $316,834.98. Following the completion of the sale, the chief operating officer now owns 105,246 shares of the company’s stock, valued at approximately $5,002,342.38. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,166 shares of company stock valued at $4,286,705 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Equitable Stock Down 0.4 %

EQH opened at $47.44 on Friday. The business’s fifty day simple moving average is $43.97 and its 200 day simple moving average is $41.85. Equitable Holdings, Inc. has a 52 week low of $27.74 and a 52 week high of $50.51. The firm has a market cap of $14.86 billion, a P/E ratio of -43.52 and a beta of 1.40. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial lifted their price target on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lowered 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. Barclays lifted their price objective on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Citigroup upped their target price on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

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.