Equitable (NYSE:EQH) Releases Earnings Results, Misses Expectations By $0.20 EPS

Equitable (NYSE:EQH) released its quarterly earnings results on Tuesday. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.20), Briefing.com reports. Equitable had a net margin of 3.51% and a return on equity of 81.58%. The firm’s quarterly revenue was down 52.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share.

Equitable Stock Down 0.2%

Shares of EQH stock traded down $0.09 during trading hours on Tuesday, reaching $48.70. The company had a trading volume of 2,849,772 shares, compared to its average volume of 2,609,270. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. The business has a fifty day simple moving average of $51.08 and a 200-day simple moving average of $52.09. Equitable has a 12 month low of $41.39 and a 12 month high of $56.61. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 39.27 and a beta of 1.17.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EQH shares. Barclays reiterated an “overweight” rating and set a $63.00 target price on shares of Equitable in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Equitable from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Equitable in a research note on Tuesday, October 14th. Wells Fargo & Company lifted their price target 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 increased their price target on Equitable from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.45.

Insider Activity

In related news, CEO Mark Pearson sold 39,700 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $48.17, for a total transaction of $1,912,349.00. Following the completion of the sale, the chief executive officer owned 689,040 shares in the company, valued at approximately $33,191,056.80. This trade represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bertram L. Scott sold 2,600 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the transaction, the director directly owned 26,001 shares in the company, valued at $1,348,411.86. This represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 178,958 shares of company stock valued at $9,362,262. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Equitable

A number of large investors have recently modified their holdings of the business. Raymond James Financial Inc. grew its stake in Equitable by 5.0% in the 2nd quarter. Raymond James Financial Inc. now owns 806,079 shares of the company’s stock worth $45,221,000 after buying an additional 38,250 shares in the last quarter. Quantinno Capital Management LP grew its position in Equitable by 36.1% in the second quarter. Quantinno Capital Management LP now owns 76,418 shares of the company’s stock worth $4,287,000 after acquiring an additional 20,280 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Equitable by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 655,742 shares of the company’s stock valued at $36,787,000 after acquiring an additional 5,357 shares during the last quarter. Sei Investments Co. raised its position in Equitable by 45.8% during the second quarter. Sei Investments Co. now owns 626,017 shares of the company’s stock valued at $35,120,000 after purchasing an additional 196,729 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Equitable by 1,126.5% during the second quarter. Qube Research & Technologies Ltd now owns 291,126 shares of the company’s stock worth $16,332,000 after purchasing an additional 267,389 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Company 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.