Insider Selling: Equitable Holdings, Inc. (NYSE:EQH) COO Sells $315,368.46 in Stock

Equitable Holdings, Inc. (NYSE:EQH) COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $47.31, for a total value of $315,368.46. Following the transaction, the chief operating officer now directly owns 98,875 shares in the company, valued at $4,677,776.25. This represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Equitable Stock Performance

NYSE EQH opened at $46.55 on Wednesday. The firm has a market capitalization of $14.59 billion, a P/E ratio of -42.72 and a beta of 1.38. The stock has a 50-day simple moving average of $46.52 and a two-hundred day simple moving average of $42.95. 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 Holdings, Inc. has a fifty-two week low of $31.76 and a fifty-two week high of $50.51.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting 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%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 EPS. On average, equities analysts forecast that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders 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 yield of 2.06%. Equitable’s payout ratio is -88.07%.

Analysts Set New Price Targets

EQH has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Equitable from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $54.00 to $58.00 in a report on Monday, December 9th. 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 lifted their price objective on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Covestor Ltd increased its stake in shares of Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares in the last quarter. LRI Investments LLC increased its position in shares of Equitable by 892.9% in the second quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock valued at $45,000 after buying an additional 1,000 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of Equitable during the 3rd quarter worth approximately $48,000. UMB Bank n.a. grew its stake in Equitable by 86.3% in the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after acquiring an additional 718 shares during the period. Finally, Quarry LP increased its holdings in Equitable by 623.5% in the 2nd quarter. Quarry LP now owns 2,366 shares of the company’s stock worth $97,000 after acquiring an additional 2,039 shares in the last quarter. Institutional investors and hedge funds own 92.70% 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.