Equitable Holdings, Inc. $EQH Stock: TrinityBridge Ltd Reduces Stake

TrinityBridge Ltd cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 373,370 shares of the company’s stock after selling 17,000 shares during the quarter. TrinityBridge Ltd’s holdings in Equitable were worth $19,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Equitable in the second quarter valued at approximately $1,136,305,000. Canada Pension Plan Investment Board purchased a new position in Equitable during the 2nd quarter worth $399,576,000. Wellington Management Group LLP raised its position in Equitable by 6.3% during the 2nd quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company’s stock valued at $385,485,000 after purchasing an additional 523,638 shares in the last quarter. Pzena Investment Management LLC bought a new stake in Equitable during the 2nd quarter valued at $244,052,000. Finally, Thornburg Investment Management Inc. lifted its holdings in shares of Equitable by 3.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 5,142,337 shares of the company’s stock worth $225,646,000 after buying an additional 148,132 shares during the period. Institutional investors own 92.70% of the company’s stock.

Insider Activity

In other Equitable news, Director Charles Stonehill sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $51.54, for a total transaction of $386,550.00. Following the sale, the director owned 34,357 shares of the company’s stock, valued at approximately $1,770,759.78. The trade was a 17.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nick Lane sold 14,923 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $53.24, for a total transaction of $794,500.52. Following the transaction, the insider owned 110,007 shares in the company, valued at $5,856,772.68. The trade was a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,816 shares of company stock valued at $1,731,591. 1.00% of the stock is owned by company insiders.

Key Equitable News

Here are the key news stories impacting Equitable this week:

• Positive Sentiment: Equitable reported Q3 adjusted earnings of $2.13 per share, above analyst estimates of roughly $1.86–$1.87 and up from $1.48 a year earlier. Revenue of $3.88 billion also topped the $3.75 billion consensus estimate. The earnings and revenue beats support the positive investor reaction. Article: Equitable Holdings Surpasses Q3 Earnings Estimates
• Neutral Sentiment: Management’s earnings-call coverage cited growth and progress on the Corebridge merger. The reports provided here do not specify deal terms or a completion timeline, so the merger’s eventual impact remains uncertain. Article: Equitable Earnings Call Highlights Growth and Merger Progress

Equitable Trading Up 2.0%

Shares of NYSE:EQH opened at $55.34 on Wednesday. The business’s 50-day moving average is $52.92 and its 200 day moving average is $45.98. 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 Holdings, Inc. has a 1 year low of $35.19 and a 1 year high of $56.57. The firm has a market capitalization of $15.11 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.53 and a beta of 1.06.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 2nd. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.27. Equitable had a return on equity of 636.12% and a net margin of 11.53%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 167.7% on a year-over-year basis. On average, research analysts predict that Equitable Holdings, Inc. will post 7.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EQH. Barclays increased their price target on Equitable from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Jefferies Financial Group raised their target price on shares of Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, July 10th. UBS Group raised 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. Wolfe Research downgraded shares of Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company increased their price target on shares of Equitable from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.18.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.

Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.