Qsemble Capital Management LP Acquires 70,629 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Qsemble Capital Management LP grew its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 902.4% in the third quarter, HoldingsChannel reports. The fund owned 78,456 shares of the company’s stock after purchasing an additional 70,629 shares during the quarter. Qsemble Capital Management LP’s holdings in Equitable were worth $3,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EQH. Advisors Asset Management Inc. grew its stake in shares of Equitable by 60.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,632 shares of the company’s stock valued at $100,000 after acquiring an additional 990 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Equitable in the first quarter worth $1,300,000. California State Teachers Retirement System raised its position in shares of Equitable by 2.3% during the 1st quarter. California State Teachers Retirement System now owns 622,935 shares of the company’s stock valued at $23,678,000 after purchasing an additional 13,841 shares during the period. Redwood Investment Management LLC purchased a new position in shares of Equitable during the 1st quarter valued at $1,505,000. Finally, Comerica Bank boosted its holdings in Equitable by 5.4% in the 1st quarter. Comerica Bank now owns 145,409 shares of the company’s stock worth $5,527,000 after buying an additional 7,472 shares during the period. Institutional investors own 92.70% of the company’s stock.

Equitable Trading Up 2.9 %

EQH stock opened at $48.99 on Tuesday. The firm has a market cap of $15.35 billion, a PE ratio of -44.94 and a beta of 1.40. The firm has a fifty day moving average price of $44.88 and a 200 day moving average price of $42.22. 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 $29.20 and a fifty-two week high of $50.51.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.53. The firm had revenue of $3.08 billion for 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%. The business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 EPS. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a yield of 1.96%. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

Analyst Upgrades and Downgrades

EQH has been the topic of several research analyst reports. Truist Financial boosted their price objective on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays boosted their price target on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley dropped their target price 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

Insider Activity

In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the sale, the chief executive officer now directly owns 668,555 shares in the company, valued at $27,263,672.90. This trade represents a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $47.53, for a total transaction of $316,834.98. Following the transaction, the chief operating officer now owns 105,246 shares in the company, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,166 shares of company stock valued at $5,709,605 in the last ninety days. 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.