Equitable Holdings, Inc. $EQH Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 92.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,694 shares of the company’s stock after selling 54,393 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Equitable were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of EQH. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Equitable during the 3rd quarter worth $32,000. Vise Technologies Inc. purchased a new position in shares of Equitable in the 3rd quarter worth about $2,073,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Equitable by 20.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 71,500 shares of the company’s stock valued at $3,666,000 after buying an additional 12,100 shares during the period. Choreo LLC bought a new position in Equitable during the third quarter valued at about $309,000. Finally, BOKF NA increased its holdings in Equitable by 2.3% during the third quarter. BOKF NA now owns 24,553 shares of the company’s stock worth $1,259,000 after buying an additional 550 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on EQH. Wells Fargo & Company lifted their price objective on shares of Equitable from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Truist Financial raised their price target on shares of Equitable from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Keefe, Bruyette & Woods lifted their price target on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $65.00 price objective on shares of Equitable in a research note on Friday, October 9th. Finally, Barclays upped their price objective on Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Equitable Stock Up 5.3%

Equitable stock opened at $55.48 on Tuesday. Equitable Holdings, Inc. has a 1-year low of $35.19 and a 1-year high of $56.83. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.55 and a beta of 1.06. The company has a current ratio of 0.12, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. The firm has a 50 day simple moving average of $53.28 and a 200 day simple moving average of $46.14.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.27. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.75 billion. Equitable had a negative return on equity of 3,089.96% and a net margin of 11.53%. The business’s quarterly revenue was up 167.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. On average, analysts predict that Equitable Holdings, Inc. will post 7.20 earnings per share for the current year.

Insider Activity

In other news, Director Bertram L. Scott sold 2,780 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $54.35, for a total transaction of $151,093.00. Following the completion of the transaction, the director directly owned 23,685 shares in the company, valued at $1,287,279.75. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig C. Mackay sold 2,000 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $54.27, for a total value of $108,540.00. Following the completion of the sale, the director owned 16,999 shares in the company, valued at $922,535.73. This trade represents a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,703 shares of company stock valued at $1,106,964 over the last ninety days. 1.00% of the stock is owned by insiders.

Equitable Profile

Equitable Holdings, Inc is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions.

The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable’s insurance and retirement businesses primarily serve customers in the United States.

Equitable traces its history to the Equitable Life Assurance Society of the United States, founded in 1859.