Swedbank AB Decreases Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Swedbank AB decreased its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 710,142 shares of the company’s stock after selling 1,362 shares during the period. Swedbank AB owned about 0.23% of Equitable worth $29,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EQH. Covestor Ltd increased its position in shares of Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 246 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Equitable in the 1st quarter valued at approximately $28,000. LRI Investments LLC boosted its stake in shares of Equitable by 892.9% during the 2nd quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock valued at $45,000 after buying an additional 1,000 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of Equitable during the third quarter worth approximately $48,000. Finally, UMB Bank n.a. increased its stake in shares of Equitable by 86.3% in the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after buying an additional 718 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of NYSE EQH opened at $48.99 on Tuesday. Equitable Holdings, Inc. has a 1 year low of $29.20 and a 1 year high of $50.51. The firm has a market cap of $15.35 billion, a P/E ratio of -44.94 and a beta of 1.40. The stock has a fifty day moving average price of $44.88 and a two-hundred day moving average price of $42.22. 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 earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting analysts’ consensus estimates of $1.53. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Research analysts forecast that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable’s payout ratio is -88.07%.

Insider Activity

In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00. Following the completion of the transaction, the chief executive officer now owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the business’s 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 sale, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This trade 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 130,166 shares of company stock valued at $5,709,605 over the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQH. Wells Fargo & Company increased their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays boosted their price objective on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley reduced their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Finally, Truist Financial boosted their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and an average price target of $48.70.

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.