Pitcairn Co. Lowers Stake in Equitable Holdings, Inc. (NYSE:EQH)

Pitcairn Co. trimmed its position in Equitable Holdings, Inc. (NYSE:EQH) by 20.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,964 shares of the company’s stock after selling 1,794 shares during the quarter. Pitcairn Co.’s holdings in Equitable were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its position in Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 246 shares in the last quarter. New Covenant Trust Company N.A. purchased a new stake in Equitable during the 1st quarter worth $28,000. LRI Investments LLC lifted its holdings in Equitable by 892.9% in the 2nd quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock worth $45,000 after buying an additional 1,000 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in Equitable in the 3rd quarter valued at about $48,000. Finally, UMB Bank n.a. grew its stake in shares of Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after acquiring an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

NYSE EQH opened at $48.06 on Thursday. Equitable Holdings, Inc. has a 1 year low of $29.29 and a 1 year high of $50.51. The stock has a market capitalization of $15.06 billion, a P/E ratio of -44.09 and a beta of 1.40. 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 business’s fifty day moving average is $45.02 and its two-hundred day moving average is $42.28.

Equitable (NYSE:EQH) last announced its earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting the consensus estimate of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, research analysts forecast that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 2.00%. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

Analyst Upgrades and Downgrades

EQH has been the subject of a number of recent analyst reports. Barclays raised their price objective on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Finally, Truist Financial boosted their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Insider Activity at Equitable

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 105,246 shares in the company, valued at $5,002,342.38. This represents a 5.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction on 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 sale, the chief accounting officer now directly owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The trade was a 15.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,166 shares of company stock valued at $4,443,605. Corporate insiders own 1.10% of the company’s stock.

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.