Thrivent Financial for Lutherans Sells 28,165 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Thrivent Financial for Lutherans decreased its position in Equitable Holdings, Inc. (NYSE:EQH) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,112 shares of the company’s stock after selling 28,165 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Equitable were worth $13,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC boosted its holdings in shares of Equitable by 76.4% in the 3rd quarter. Natixis Advisors LLC now owns 33,321 shares of the company’s stock worth $1,400,000 after purchasing an additional 14,434 shares during the period. CIBC Asset Management Inc raised its position in Equitable by 5.2% in the 3rd quarter. CIBC Asset Management Inc now owns 11,765 shares of the company’s stock worth $494,000 after purchasing an additional 584 shares during the period. MQS Management LLC purchased a new stake in Equitable in the 3rd quarter worth about $587,000. Victory Capital Management Inc. lifted its stake in Equitable by 24.2% in the third quarter. Victory Capital Management Inc. now owns 266,677 shares of the company’s stock worth $11,208,000 after purchasing an additional 51,990 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Equitable by 1.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,855 shares of the company’s stock valued at $29,919,000 after buying an additional 7,720 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Stock Up 0.1 %

EQH stock opened at $46.80 on Friday. The firm’s fifty day moving average is $44.57 and its 200 day moving average is $42.06. The firm has a market cap of $14.66 billion, a PE ratio of -42.94 and a beta of 1.40. Equitable Holdings, Inc. has a one year low of $28.19 and a one year high of $50.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH) last announced its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.53. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business’s revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 EPS. On average, research analysts forecast that Equitable Holdings, Inc. will post 6.03 EPS for the current year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Tuesday, November 26th. Equitable’s payout ratio is -88.07%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EQH shares. Morgan Stanley dropped their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company upped their target price on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays upped their price objective 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. Finally, Truist Financial lifted their price objective on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Insider Activity

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the transaction, the chief operating officer now owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the transaction, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at $28,635,021. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,166 shares of company stock worth $5,709,605 over the last three months. Insiders own 1.10% of the company’s stock.

About Equitable

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.