Thrivent Financial for Lutherans Sells 28,165 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Thrivent Financial for Lutherans lessened its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,112 shares of the company’s stock after selling 28,165 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of Equitable worth $13,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in Equitable by 61.5% in the 3rd 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. New Covenant Trust Company N.A. bought a new position in Equitable in the first quarter worth about $28,000. LRI Investments LLC purchased a new stake in Equitable in the first quarter worth about $45,000. Carolina Wealth Advisors LLC bought a new stake in Equitable during the 3rd quarter valued at approximately $48,000. Finally, UMB Bank n.a. grew 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 acquiring an additional 718 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

EQH has been the subject of a number of research analyst reports. Truist Financial raised their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays lifted their price target 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. Finally, Morgan Stanley cut their price objective 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Insiders Place Their Bets

In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the transaction, the chief operating officer now owns 105,246 shares in the company, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,166 shares of company stock valued at $5,709,605. 1.10% of the stock is owned by insiders.

Equitable Stock Up 0.1 %

Shares of Equitable stock opened at $46.80 on Friday. The company has a 50-day simple moving average of $44.57 and a two-hundred day simple moving average of $42.06. 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 52-week low of $28.19 and a 52-week high of $50.51. 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 released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. On average, analysts anticipate that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Announces Dividend

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

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.