Seth P. Bernstein Sells 152,473 Shares of Equitable Holdings, Inc. (NYSE:EQH) Stock

Equitable Holdings, Inc. (NYSE:EQH) insider Seth P. Bernstein sold 152,473 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the sale, the insider now directly owns 88,660 shares in the company, valued at $3,374,399.60. The sale was disclosed in a filing with the SEC, which is available through this link.

Equitable Stock Performance

Shares of EQH stock opened at $38.54 on Friday. The stock has a 50 day moving average price of $36.26 and a 200 day moving average price of $33.00. Equitable Holdings, Inc. has a 52-week low of $21.89 and a 52-week high of $39.11. The firm has a market capitalization of $12.63 billion, a P/E ratio of 11.93 and a beta of 1.40.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.59 billion. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. As a group, sell-side analysts forecast that Equitable Holdings, Inc. will post 6.01 EPS for the current year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 26th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.88 annualized dividend and a yield of 2.28%. Equitable’s dividend payout ratio (DPR) is 27.24%.

Hedge Funds Weigh In On Equitable

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new stake in shares of Equitable in the fourth quarter valued at approximately $4,425,000. Pacer Advisors Inc. purchased a new stake in shares of Equitable in the 4th quarter worth $1,573,000. Louisiana State Employees Retirement System bought a new position in shares of Equitable during the 4th quarter worth $2,977,000. Yousif Capital Management LLC increased its stake in shares of Equitable by 1,739.8% during the fourth quarter. Yousif Capital Management LLC now owns 153,314 shares of the company’s stock valued at $5,105,000 after buying an additional 144,981 shares during the period. Finally, Ellsworth Advisors LLC bought a new stake in shares of Equitable in the fourth quarter valued at about $894,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Morgan Stanley increased their price target on shares of Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Evercore ISI boosted their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. UBS Group raised their price objective on Equitable from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Truist Financial boosted their target price on Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.10.

Equitable Company 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.