Equitable Holdings, Inc. (NYSE:EQH) Stake Boosted by New Vernon Investment Management LLC

New Vernon Investment Management LLC boosted its stake in Equitable Holdings, Inc. (NYSE:EQH) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,488 shares of the company’s stock after buying an additional 5,933 shares during the period. Equitable accounts for approximately 3.7% of New Vernon Investment Management LLC’s portfolio, making the stock its 10th largest position. New Vernon Investment Management LLC’s holdings in Equitable were worth $3,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investment Management Corp of Ontario lifted its holdings in shares of Equitable by 21.2% during the third quarter. Investment Management Corp of Ontario now owns 20,040 shares of the company’s stock valued at $842,000 after purchasing an additional 3,500 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Equitable by 1,309.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 242,163 shares of the company’s stock valued at $10,178,000 after buying an additional 224,987 shares during the last quarter. Holocene Advisors LP grew its stake in shares of Equitable by 486.6% in the third quarter. Holocene Advisors LP now owns 157,085 shares of the company’s stock worth $6,602,000 after acquiring an additional 130,306 shares during the last quarter. Centiva Capital LP increased its holdings in shares of Equitable by 27.5% during the third quarter. Centiva Capital LP now owns 67,486 shares of the company’s stock valued at $2,836,000 after acquiring an additional 14,556 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Equitable in the 3rd quarter worth about $3,041,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

Shares of NYSE EQH traded up $0.07 during mid-day trading on Tuesday, reaching $47.42. The company’s stock had a trading volume of 572,827 shares, compared to its average volume of 2,488,643. The stock has a fifty day moving average of $45.49 and a two-hundred day moving average of $42.49. The firm has a market capitalization of $14.86 billion, a PE ratio of -43.42 and a beta of 1.38. Equitable Holdings, Inc. has a 52 week low of $31.31 and a 52 week high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The company had revenue of $3.08 billion during 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%. Equitable’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period last year, the company posted $1.15 earnings per share. As a group, sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable’s dividend payout ratio is presently -88.07%.

Analysts Set New Price Targets

Several research firms recently issued reports on EQH. Barclays upped their price objective on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.70.

Insiders Place Their Bets

In related news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the transaction, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at approximately $5,002,342.38. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 100,166 shares of company stock valued at $4,443,605 in the last quarter. 1.10% of the stock is currently owned by insiders.

Equitable 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.