Algert Global LLC Acquires 5,864 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Algert Global LLC lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 41.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,052 shares of the company’s stock after acquiring an additional 5,864 shares during the period. Algert Global LLC’s holdings in Equitable were worth $843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in shares of Equitable during the 3rd quarter valued at approximately $587,000. Friedenthal Financial purchased a new stake in shares of Equitable in the second quarter valued at $831,000. Maverick Capital Ltd. lifted its holdings in shares of Equitable by 230.0% in the 2nd quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock worth $1,505,000 after acquiring an additional 25,678 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Equitable by 94.6% during the 2nd quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock worth $5,484,000 after purchasing an additional 65,232 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Equitable by 55.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock valued at $2,564,000 after purchasing an additional 22,346 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

EQH stock opened at $48.23 on Friday. Equitable Holdings, Inc. has a one year low of $29.70 and a one year high of $50.51. The firm has a market cap of $15.11 billion, a price-to-earnings ratio of -44.11 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 firm has a 50-day simple moving average of $45.27 and a two-hundred day simple moving average of $42.36.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting 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 company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. Equitable’s revenue for the quarter 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 fiscal year.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 1.99%. Equitable’s dividend payout ratio (DPR) is -88.07%.

Analysts Set New Price Targets

EQH has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays raised their price target 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. Finally, Morgan Stanley lowered their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.70.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The trade was a 4.29 % decrease in their position. 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 on Thursday, September 19th. The stock was 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 of the company’s stock, valued at approximately $819,596.82. This represents a 15.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,166 shares of company stock valued at $4,443,605 in the last ninety days. 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.