Redwood Investment Management LLC Grows Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Redwood Investment Management LLC lifted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,353 shares of the company’s stock after buying an additional 1,409 shares during the quarter. Redwood Investment Management LLC’s holdings in Equitable were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cetera Advisors LLC lifted its stake in shares of Equitable by 37.5% in the first quarter. Cetera Advisors LLC now owns 13,227 shares of the company’s stock worth $503,000 after buying an additional 3,608 shares in the last quarter. CWM LLC raised its position in shares of Equitable by 42.5% during the 2nd quarter. CWM LLC now owns 4,175 shares of the company’s stock valued at $171,000 after purchasing an additional 1,246 shares during the period. QRG Capital Management Inc. increased its holdings in Equitable by 3.4% in the 2nd quarter. QRG Capital Management Inc. now owns 80,998 shares of the company’s stock valued at $3,310,000 after acquiring an additional 2,655 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Equitable in the 2nd quarter valued at $24,315,000. Finally, Friedenthal Financial bought a new stake in Equitable in the 2nd quarter valued at $831,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price objective 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. Barclays upped their price target on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price target on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

Equitable Trading Up 0.0 %

Shares of EQH stock opened at $47.73 on Friday. The firm has a market cap of $14.96 billion, a P/E ratio of -43.79 and a beta of 1.38. Equitable Holdings, Inc. has a 1-year low of $31.53 and a 1-year 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. The firm’s 50-day simple moving average is $45.83 and its 200-day simple moving average is $42.61.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. Equitable’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share. As a group, equities analysts forecast that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.01%. Equitable’s dividend payout ratio is -88.07%.

Insider Activity

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 668,555 shares in the company, valued at $27,263,672.90. This represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at approximately $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,166 shares of company stock worth $4,443,605 in the last 90 days. Company 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.