Philadelphia Financial Management of San Francisco LLC Makes New Investment in Equitable Holdings, Inc. $EQH

Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 226,030 shares of the company’s stock, valued at approximately $9,918,196,000. Equitable accounts for approximately 2.0% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 13th biggest holding. Philadelphia Financial Management of San Francisco LLC owned 0.08% of Equitable as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EQH. BlackRock Inc. bought a new stake in Equitable during the second quarter valued at approximately $1,136,305,000. Norges Bank purchased a new stake in Equitable during the fourth quarter valued at approximately $550,995,000. Canada Pension Plan Investment Board bought a new position in Equitable in the second quarter worth approximately $399,576,000. Pzena Investment Management LLC purchased a new position in shares of Equitable during the 2nd quarter worth $244,052,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Equitable during the 2nd quarter worth $208,146,000. Institutional investors own 92.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EQH shares. Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Barclays upped their price target on Equitable from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price objective on Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, UBS Group lifted their price objective on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.75.

Insider Buying and Selling at Equitable

In related news, Director Charles G.T. Stonehill sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $51.54, for a total value of $386,550.00. Following the sale, the director directly owned 34,357 shares in the company, valued at approximately $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bertram L. Scott sold 2,470 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $41.08, for a total value of $101,467.60. Following the transaction, the director directly owned 27,931 shares of the company’s stock, valued at approximately $1,147,405.48. The trade was a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 114,541 shares of company stock worth $5,357,784. Insiders own 1.00% of the company’s stock.

Equitable Stock Performance

NYSE:EQH opened at $49.99 on Thursday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $55.15. The stock has a 50-day moving average price of $48.12 and a 200 day moving average price of $43.51. The stock has a market capitalization of $13.65 billion, a P/E ratio of -15.10, a P/E/G ratio of 0.48 and a beta of 1.09.

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

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders 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 yield of 2.4%. Equitable’s payout ratio is presently -36.25%.

Equitable Company Profile

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.