Janney Montgomery Scott LLC Reduces Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Janney Montgomery Scott LLC lowered its stake in Equitable Holdings, Inc. (NYSE:EQH) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,488 shares of the company’s stock after selling 2,860 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Equitable were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQH. New Covenant Trust Company N.A. purchased a new position in shares of Equitable during the 1st quarter worth $28,000. LRI Investments LLC purchased a new position in shares of Equitable during the 1st quarter worth $45,000. Carolina Wealth Advisors LLC purchased a new position in shares of Equitable during the 3rd quarter worth $48,000. UMB Bank n.a. boosted its stake in shares of Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after acquiring an additional 718 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Equitable by 141.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,605 shares of the company’s stock worth $96,000 after acquiring an additional 1,526 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

EQH has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Barclays lifted their price target on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial increased their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup boosted their price objective on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.70.

Insider Activity

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the transaction, the chief operating officer now directly owns 105,246 shares in the company, valued at approximately $5,002,342.38. This represents a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total value of $1,332,000.00. Following the transaction, the chief executive officer now owns 658,555 shares of the company’s stock, valued at $29,239,842. This represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,166 shares of company stock worth $4,286,705. 1.10% of the stock is currently owned by insiders.

Equitable Trading Down 0.4 %

EQH stock opened at $47.44 on Monday. Equitable Holdings, Inc. has a 1-year low of $27.74 and a 1-year high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of -43.52 and a beta of 1.40. The business has a 50 day simple moving average of $43.97 and a two-hundred day simple moving average of $41.87.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 EPS. Research analysts anticipate that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.