Conifer Management L.L.C. Takes $184.30 Billion Position in Equitable Holdings, Inc. $EQH

Conifer Management L.L.C. acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,200,000 shares of the company’s stock, valued at approximately $184,296,000,000. Equitable makes up 30.4% of Conifer Management L.L.C.’s portfolio, making the stock its 2nd biggest position. Conifer Management L.L.C. owned approximately 1.54% of Equitable at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of Equitable during the third quarter valued at about $26,000. Root Financial Partners LLC increased its stake in shares of Equitable by 64.1% in the first quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock valued at $33,000 after buying an additional 347 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Equitable in the second quarter valued at approximately $33,000. Covestor Ltd raised its holdings in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after buying an additional 404 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Equitable in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $48.54, for a total value of $1,927,038.00. Following the completion of the sale, the chief executive officer directly owned 753,403 shares in the company, valued at approximately $36,570,181.62. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey J. Hurd sold 14,358 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $45.11, for a total transaction of $647,689.38. Following the transaction, the chief operating officer owned 74,748 shares in the company, valued at $3,371,882.28. This represents a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 114,541 shares of company stock worth $5,357,784 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wolfe Research lowered Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their target price on shares of Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Weiss Ratings lowered shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Jefferies Financial Group boosted their price target on shares of Equitable from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Mizuho set a $68.00 price objective on shares of Equitable in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.75.

Equitable Stock Up 0.3%

Shares of Equitable stock opened at $49.02 on Tuesday. The stock’s 50-day moving average is $47.95 and its 200 day moving average is $43.43. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $55.15. The firm has a market cap of $13.39 billion, a price-to-earnings ratio of -14.81, a PEG ratio of 0.48 and a beta of 1.09. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15.

Equitable (NYSE:EQH) last issued its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The firm’s revenue for the quarter was down 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. Equities research analysts anticipate that Equitable Holdings, Inc. will post 7.16 EPS for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. Equitable’s payout ratio is currently -36.25%.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.