Jessup Wealth Management Inc Sells 5,181 Shares of Equitable Holdings, Inc. $EQH

Jessup Wealth Management Inc lowered its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 3.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 128,044 shares of the company’s stock after selling 5,181 shares during the quarter. Equitable accounts for approximately 2.9% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 13th largest holding. Jessup Wealth Management Inc’s holdings in Equitable were worth $7,183,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EQH. Atlas Capital Advisors Inc. increased its position in shares of Equitable by 310.2% during the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company’s stock valued at $904,000 after purchasing an additional 13,120 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Equitable by 18.3% in the second quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock worth $223,168,000 after purchasing an additional 615,314 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Equitable during the first quarter valued at approximately $255,000. Cullen Frost Bankers Inc. purchased a new stake in Equitable in the second quarter worth $73,000. Finally, Applied Finance Capital Management LLC bought a new stake in Equitable in the second quarter valued at $434,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $48.99, for a total value of $332,642.10. Following the completion of the sale, the chief operating officer directly owned 75,098 shares of the company’s stock, valued at approximately $3,679,051.02. This represents a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bertram L. Scott sold 2,600 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the sale, the director directly owned 26,001 shares in the company, valued at approximately $1,348,411.86. This represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 178,958 shares of company stock worth $9,362,262 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Equitable Stock Performance

Shares of EQH opened at $49.39 on Friday. The firm has a market capitalization of $14.80 billion, a P/E ratio of 39.83 and a beta of 1.10. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. Equitable Holdings, Inc. has a one year low of $41.39 and a one year high of $56.61. The business has a fifty day moving average of $51.27 and a 200 day moving average of $52.02.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EQH shares. Barclays reaffirmed an “overweight” rating and issued a $63.00 target price on shares of Equitable in a research report on Wednesday, October 8th. Wolfe Research raised Equitable to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen lowered Equitable from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Wells Fargo & Company raised their target price on Equitable from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Equitable from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.45.

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.