Point72 Hong Kong Ltd Purchases Shares of 72,345 Equitable Holdings, Inc. (NYSE:EQH)

Point72 Hong Kong Ltd acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 72,345 shares of the company’s stock, valued at approximately $3,041,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Equitable by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock worth $166,855,000 after purchasing an additional 539,904 shares during the period. Acadian Asset Management LLC grew its holdings in Equitable by 24,432.7% in the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock valued at $129,444,000 after buying an additional 3,155,487 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Equitable during the 2nd quarter worth $110,176,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equitable by 2.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,220,356 shares of the company’s stock worth $93,322,000 after buying an additional 54,380 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Equitable by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,165,115 shares of the company’s stock valued at $91,000,000 after acquiring an additional 68,900 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQH has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Finally, Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.70.

Insider Buying and Selling at Equitable

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.53, for a total value of $316,834.98. Following the completion of 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 hyperlink. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,166 shares of company stock worth $4,443,605 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Up 0.3 %

NYSE EQH opened at $48.23 on Monday. The business has a fifty day moving average price of $45.39 and a two-hundred day moving average price of $42.43. The stock has a market capitalization of $15.11 billion, a PE ratio of -44.25 and a beta of 1.40. Equitable Holdings, Inc. has a fifty-two week low of $29.70 and a fifty-two week 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.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The business 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%. Equitable’s revenue was down 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. Equities analysts expect that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable’s payout ratio is -88.07%.

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.