Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 4,600,000 shares, a decrease of 27.1% from the February 13th total of 6,310,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.5% of the shares of the stock are sold short.
Equitable Stock Up 3.5 %
Shares of NYSE:EQH traded up $1.74 during midday trading on Friday, hitting $51.28. The stock had a trading volume of 2,701,743 shares, compared to its average volume of 2,401,824. Equitable has a 12 month low of $35.18 and a 12 month high of $56.00. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The business’s 50-day simple moving average is $52.42 and its 200-day simple moving average is $47.58. The company has a market cap of $15.79 billion, a P/E ratio of 13.42 and a beta of 1.39.
Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. On average, sell-side analysts forecast that Equitable will post 7.33 earnings per share for the current fiscal year.
Equitable Announces Dividend
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on EQH. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a “hold” rating to a “buy” rating and raised their target price for the company from $47.00 to $58.00 in a research note on Friday, January 10th. Truist Financial raised their target price on shares of Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Barclays raised their target price on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lifted their price objective on shares of Equitable from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.75.
Check Out Our Latest Research Report on EQH
Insider Buying and Selling
In other news, COO Jeffrey J. Hurd sold 6,666 shares of the firm’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 owns 98,875 shares of the company’s stock, valued at approximately $4,677,776.25. This trade represents a 6.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $47.31, for a total transaction of $1,419,300.00. Following the completion of the transaction, the chief executive officer now directly owns 639,939 shares in the company, valued at $30,275,514.09. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,698 shares of company stock worth $6,534,234 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Equitable
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQH. Norges Bank bought a new position in Equitable during the fourth quarter worth $668,250,000. Wellington Management Group LLP boosted its position in Equitable by 59.9% during the fourth quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company’s stock worth $415,899,000 after purchasing an additional 3,303,449 shares during the period. Nordea Investment Management AB boosted its position in Equitable by 700.3% during the fourth quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company’s stock worth $74,126,000 after purchasing an additional 1,367,837 shares during the period. Los Angeles Capital Management LLC boosted its position in Equitable by 608.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,468,912 shares of the company’s stock worth $69,289,000 after purchasing an additional 1,261,466 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Equitable by 237.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company’s stock worth $82,955,000 after purchasing an additional 1,236,799 shares during the period. 92.70% of the stock is owned by institutional investors.
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.
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