Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in Equitable Holdings Inc (NYSE:EQH)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Equitable Holdings Inc (NYSE:EQH) by 14.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,388,140 shares of the company’s stock after selling 388,508 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.53% of Equitable worth $46,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in Equitable by 114.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,369 shares of the company’s stock worth $26,000 after purchasing an additional 730 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Equitable by 2.0% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 41,248 shares of the company’s stock worth $596,000 after purchasing an additional 798 shares in the last quarter. Arden Trust Co lifted its holdings in Equitable by 8.7% during the 2nd quarter. Arden Trust Co now owns 10,221 shares of the company’s stock worth $197,000 after purchasing an additional 821 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Equitable by 18.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 5,765 shares of the company’s stock worth $116,000 after purchasing an additional 898 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Equitable by 4.1% during the 4th quarter. Macquarie Group Ltd. now owns 24,963 shares of the company’s stock worth $619,000 after purchasing an additional 984 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Equitable stock opened at $20.46 on Friday. The firm has a market capitalization of $9.22 billion, a PE ratio of 4.12 and a beta of 1.78. The business’s 50-day moving average price is $19.71 and its 200-day moving average price is $19.70. Equitable Holdings Inc has a 12 month low of $9.89 and a 12 month high of $27.30.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.06). The firm had revenue of $12.59 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the business earned $0.98 EPS. On average, analysts expect that Equitable Holdings Inc will post 4.21 EPS for the current year.

A number of analysts recently issued reports on the company. ValuEngine cut Equitable from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 29th. Citigroup raised Equitable from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $18.00 to $17.00 in a report on Friday, April 17th. Morgan Stanley raised their price target on Equitable from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, July 6th. SunTrust Banks lowered their price target on Equitable from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Wells Fargo & Co raised their price target on Equitable from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.38.

Equitable Profile

Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.

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Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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