Bank of Montreal Can Buys 357,417 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Bank of Montreal Can boosted its stake in Equitable Holdings, Inc. (NYSE:EQH) by 1,133.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 388,941 shares of the company’s stock after purchasing an additional 357,417 shares during the quarter. Bank of Montreal Can owned about 0.12% of Equitable worth $16,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd lifted its position in shares of Equitable by 335.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 49,766 shares of the company’s stock worth $2,092,000 after buying an additional 38,342 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Equitable by 34.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,593 shares of the company’s stock worth $1,286,000 after acquiring an additional 7,900 shares in the last quarter. Algert Global LLC boosted its position in shares of Equitable by 41.3% during the 3rd quarter. Algert Global LLC now owns 20,052 shares of the company’s stock valued at $843,000 after acquiring an additional 5,864 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Equitable by 53.5% in the third quarter. Cerity Partners LLC now owns 22,443 shares of the company’s stock valued at $943,000 after purchasing an additional 7,823 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new stake in Equitable in the third quarter worth $281,000. Institutional investors own 92.70% of the company’s stock.

Equitable Trading Up 0.3 %

EQH opened at $48.23 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s 50 day moving average price is $45.39 and its 200-day moving average price is $42.41. Equitable Holdings, Inc. has a one year low of $29.70 and a one year high of $50.51. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of -44.25 and a beta of 1.40.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. 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 firm posted $1.15 earnings per share. The company’s revenue was down 15.1% compared to the same quarter last year. On average, equities analysts forecast that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be given a $0.24 dividend. 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 dividend payout ratio (DPR) is presently -88.07%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley decreased their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at $27,263,672.90. The trade was a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,321 shares in the company, valued at $819,596.82. This represents a 15.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,166 shares of company stock valued at $4,443,605 in the last three months. 1.10% of the stock is currently owned by company insiders.

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.