Insider Selling: Equitable Holdings, Inc. (NYSE:EQH) Insider Sells $5,803,122.38 in Stock

Equitable Holdings, Inc. (NYSE:EQH) insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the sale, the insider now owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Equitable Stock Performance

Shares of EQH opened at $38.54 on Monday. The firm has a market cap of $12.63 billion, a PE ratio of 11.93 and a beta of 1.40. Equitable Holdings, Inc. has a 52-week low of $21.89 and a 52-week high of $39.11. The business’s 50 day moving average price is $36.26 and its two-hundred day moving average price is $33.03.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. Research analysts predict that Equitable Holdings, Inc. will post 6.06 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. Equitable’s dividend payout ratio is currently 27.24%.

Wall Street Analysts Forecast Growth

EQH has been the subject of several analyst reports. UBS Group raised their price target on shares of Equitable from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Evercore ISI lifted their target price on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley increased their price target on Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Jefferies Financial Group lifted their price objective on Equitable from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company increased their target price on shares of Equitable from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.10.

Institutional Trading of Equitable

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Equitable during the 4th quarter worth approximately $606,630,000. Hsbc Holdings PLC raised its position in shares of Equitable by 1,161.7% during the fourth quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock worth $262,692,000 after purchasing an additional 7,227,568 shares during the period. Pzena Investment Management LLC raised its position in shares of Equitable by 10.0% during the third quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company’s stock worth $763,764,000 after purchasing an additional 2,450,484 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Equitable by 1,105.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,242,941 shares of the company’s stock worth $41,390,000 after purchasing an additional 1,139,814 shares in the last quarter. Finally, Northern Trust Corp grew its position in Equitable by 24.6% in the 4th quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after purchasing an additional 781,426 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

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.