Bank of New York Mellon Corp Sells 22,518 Shares of Equitable Holdings, Inc. $EQH

Bank of New York Mellon Corp lessened its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,989,780 shares of the company’s stock after selling 22,518 shares during the period. Bank of New York Mellon Corp owned approximately 1.00% of Equitable worth $151,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 480 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Equitable during the 3rd quarter worth $36,000. Hilltop National Bank acquired a new stake in Equitable in the third quarter valued at about $37,000. Geneos Wealth Management Inc. boosted its stake in Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after buying an additional 424 shares in the last quarter. Finally, MAI Capital Management grew its position in Equitable by 64.0% in the second quarter. MAI Capital Management now owns 938 shares of the company’s stock valued at $53,000 after acquiring an additional 366 shares during the last quarter. 92.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Equitable from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $64.00 to $60.00 in a research note on Monday, January 5th. Morgan Stanley dropped their price objective on shares of Equitable from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. The Goldman Sachs Group set a $60.00 target price on shares of Equitable in a research note on Monday, January 5th. Barclays set a $58.00 price target on Equitable in a research note on Thursday, January 8th. Finally, Raymond James Financial set a $60.00 price objective on Equitable in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Equitable has a consensus rating of “Moderate Buy” and a consensus price target of $62.54.

Equitable Price Performance

EQH stock opened at $46.43 on Friday. The company has a market capitalization of $13.30 billion, a P/E ratio of -16.82, a PEG ratio of 0.35 and a beta of 1.13. The company has a fifty day moving average price of $47.22 and a 200-day moving average price of $49.41. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.13 and a current ratio of 0.13. Equitable Holdings, Inc. has a 52-week low of $41.39 and a 52-week high of $56.61.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $3.65 billion. Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The business’s revenue for the quarter was down 52.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. As a group, equities analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 24th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, November 24th. Equitable’s dividend payout ratio (DPR) is -39.13%.

Insider Buying and Selling

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the sale, the chief operating officer directly owned 55,023 shares in the company, valued at $2,621,845.95. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nick Lane sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the sale, the insider directly owned 99,958 shares of the company’s stock, valued at $4,762,998.70. This represents a 23.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 203,770 shares of company stock valued at $9,462,206 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.