The Manufacturers Life Insurance Company Sells 90,858 Shares of Equitable Holdings, Inc. (NYSE:EQH)

The Manufacturers Life Insurance Company decreased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 654,941 shares of the company’s stock after selling 90,858 shares during the period. The Manufacturers Life Insurance Company owned 0.21% of Equitable worth $27,527,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd grew its position in shares of Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares during the last quarter. LRI Investments LLC increased its position in Equitable by 892.9% during 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 during the period. Carolina Wealth Advisors LLC bought a new stake in shares of Equitable in the third quarter valued at about $48,000. UMB Bank n.a. grew 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 valued at $65,000 after acquiring an additional 718 shares in the last quarter. Finally, Quarry LP increased its position in Equitable by 623.5% during the second quarter. Quarry LP now owns 2,366 shares of the company’s stock worth $97,000 after acquiring an additional 2,039 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Equitable Stock Performance

Equitable stock opened at $48.23 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock has a market cap of $15.11 billion, a PE ratio of -44.25 and a beta of 1.40. Equitable Holdings, Inc. has a 12-month low of $29.70 and a 12-month high of $50.51. The business’s 50-day moving average price is $45.27 and its two-hundred day moving average price is $42.36.

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

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be issued 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 dividend yield of 1.99%. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

Insider Activity

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at $27,263,672.90. The trade was a 4.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,166 shares of company stock worth $4,443,605. Insiders own 1.10% of the company’s stock.

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.