Legacy Wealth Management LLC MS Has $1.28 Million Position in Equitable Holdings, Inc. $EQH

Legacy Wealth Management LLC MS lessened its stake in Equitable Holdings, Inc. (NYSE:EQH) by 25.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,240 shares of the company’s stock after selling 10,000 shares during the period. Legacy Wealth Management LLC MS’s holdings in Equitable were worth $1,283,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in shares of Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after acquiring an additional 424 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Equitable during the second quarter valued at $1,712,000. Gamco Investors INC. ET AL bought a new position in Equitable in the second quarter valued at about $1,133,000. Qube Research & Technologies Ltd increased its position in Equitable by 1,126.5% in the second quarter. Qube Research & Technologies Ltd now owns 291,126 shares of the company’s stock worth $16,332,000 after purchasing an additional 267,389 shares during the period. Finally, Sei Investments Co. increased its position in Equitable by 45.8% in the second quarter. Sei Investments Co. now owns 626,017 shares of the company’s stock worth $35,120,000 after purchasing an additional 196,729 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Transactions at Equitable

In other news, COO Jeffrey J. Hurd sold 14,358 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $45.11, for a total value of $647,689.38. Following the completion of the transaction, the chief operating officer owned 74,748 shares of the company’s stock, valued at $3,371,882.28. The trade was a 16.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $48.54, for a total transaction of $1,927,038.00. Following the completion of the sale, the chief executive officer owned 753,403 shares of the company’s stock, valued at approximately $36,570,181.62. This represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 128,503 shares of company stock valued at $5,840,116. Corporate insiders own 1.10% of the company’s stock.

Equitable Trading Down 1.2%

NYSE:EQH opened at $51.57 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 1-year low of $35.19 and a 1-year high of $55.24. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of -15.58, a PEG ratio of 0.51 and a beta of 1.09. The business’s 50-day moving average price is $45.98 and its two-hundred day moving average price is $43.07.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 249.82% and a negative net margin of 8.72%.The company’s revenue for the quarter was down 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 EPS. On average, equities analysts expect that Equitable Holdings, Inc. will post 7.13 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. Equitable’s payout ratio is currently -36.25%.

Analysts Set New Price Targets

Several brokerages have weighed in on EQH. Raymond James Financial set a $58.00 price objective on Equitable and gave the stock a “strong-buy” rating in a report on Thursday, April 16th. Barclays lifted their price target on shares of Equitable from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price target on shares of Equitable from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Jefferies Financial Group increased their price objective on shares of Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.75.

Equitable 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.