Pinnacle Associates Ltd. Has $971,000 Position in Equitable Holdings, Inc. $EQH

Pinnacle Associates Ltd. increased its stake in Equitable Holdings, Inc. (NYSE:EQH) by 53.9% in the 2nd quarter, Holdings Channel reports. The firm owned 17,315 shares of the company’s stock after purchasing an additional 6,065 shares during the period. Pinnacle Associates Ltd.’s holdings in Equitable were worth $971,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BSW Wealth Partners lifted its holdings in Equitable by 5.9% in the 2nd quarter. BSW Wealth Partners now owns 4,259 shares of the company’s stock worth $239,000 after purchasing an additional 238 shares during the last quarter. UMB Bank n.a. lifted its holdings in Equitable by 6.6% in the 2nd quarter. UMB Bank n.a. now owns 4,510 shares of the company’s stock worth $253,000 after purchasing an additional 281 shares during the last quarter. Mutual Advisors LLC increased its position in Equitable by 5.3% in the 1st quarter. Mutual Advisors LLC now owns 6,367 shares of the company’s stock worth $316,000 after buying an additional 319 shares during the period. PDS Planning Inc increased its position in Equitable by 9.3% in the 2nd quarter. PDS Planning Inc now owns 4,829 shares of the company’s stock worth $271,000 after buying an additional 411 shares during the period. Finally, Ascent Group LLC increased its position in Equitable by 6.6% in the 1st quarter. Ascent Group LLC now owns 6,874 shares of the company’s stock worth $358,000 after buying an additional 424 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Performance

EQH opened at $48.71 on Tuesday. The stock has a market cap of $14.59 billion, a PE ratio of 39.29 and a beta of 1.17. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 1 year low of $41.39 and a 1 year high of $56.61. The stock’s 50 day simple moving average is $51.19 and its 200-day simple moving average is $52.07.

Analysts Set New Price Targets

Several brokerages have commented on EQH. Wall Street Zen downgraded Equitable from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Morgan Stanley dropped their price target on Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equitable in a research report on Tuesday, October 14th. Evercore ISI lifted their price target on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Equitable from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average target price of $64.45.

Insider Transactions at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $48.17, for a total value of $1,912,349.00. Following the sale, the chief executive officer owned 689,040 shares of the company’s stock, valued at $33,191,056.80. The trade was a 5.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,790 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $48.99, for a total value of $332,642.10. Following the completion of the sale, the chief operating officer directly owned 75,098 shares in the company, valued at approximately $3,679,051.02. This represents a 8.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 178,958 shares of company stock valued at $9,362,262. Company insiders own 1.10% of the company’s stock.

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.