Summit Global Investments bought a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,119 shares of the company's stock, valued at approximately $720,000.
Several other hedge funds have also modified their holdings of the stock. Norden Group LLC acquired a new stake in Equitable in the first quarter valued at approximately $212,000. GSA Capital Partners LLP acquired a new position in Equitable in the 1st quarter worth $542,000. SG Americas Securities LLC boosted its position in Equitable by 672.4% in the 1st quarter. SG Americas Securities LLC now owns 72,390 shares of the company's stock valued at $2,752,000 after buying an additional 63,018 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Equitable by 2.1% during the first quarter. Russell Investments Group Ltd. now owns 516,764 shares of the company's stock valued at $19,639,000 after acquiring an additional 10,733 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Equitable by 4.4% in the first quarter. US Bancorp DE now owns 10,068 shares of the company's stock worth $383,000 after acquiring an additional 423 shares in the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EQH opened at $47.36 on Friday. 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 company has a market cap of $14.84 billion, a P/E ratio of -43.45 and a beta of 1.40. Equitable Holdings, Inc. has a 12 month low of $25.88 and a 12 month high of $50.51. The stock has a fifty day moving average price of $43.26 and a 200 day moving average price of $41.47.
Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting analysts' consensus estimates of $1.53. The business had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The company's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. On average, research analysts forecast that Equitable Holdings, Inc. will post 6.03 earnings per share for the current year.
EQH has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Equitable from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company raised their price objective on shares of Equitable from $43.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Truist Financial upped their target price on shares of Equitable from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Citigroup boosted their price objective on Equitable from $41.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Barclays increased their target price on Equitable from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.70.
Get Our Latest Stock Report on Equitable
In related news, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,321 shares of the company's stock, valued at $819,596.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were 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 directly owns 668,555 shares in the company, valued at approximately $27,263,672.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company's stock, valued at $819,596.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,500 shares of company stock valued at $3,969,870. Insiders own 1.10% of the company's stock.
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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