Bank of New York Mellon Corp Sells 23,648 Shares of Equitable Holdings, Inc. $EQH

Bank of New York Mellon Corp reduced its stake in Equitable Holdings, Inc. (NYSE:EQH) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,012,298 shares of the company’s stock after selling 23,648 shares during the quarter. Bank of New York Mellon Corp owned about 1.00% of Equitable worth $168,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Boston Partners bought a new position in Equitable in the 1st quarter valued at approximately $108,264,000. Wellington Management Group LLP lifted its position in Equitable by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock valued at $566,662,000 after acquiring an additional 2,061,496 shares in the last quarter. Nuveen LLC bought a new position in Equitable in the 1st quarter valued at approximately $99,319,000. Robeco Institutional Asset Management B.V. lifted its position in Equitable by 553.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,713 shares of the company’s stock valued at $121,553,000 after acquiring an additional 1,834,889 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Equitable by 85.4% in the 1st quarter. AQR Capital Management LLC now owns 1,909,451 shares of the company’s stock valued at $96,981,000 after acquiring an additional 879,813 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $48.17, for a total value of $1,912,349.00. Following the completion of the sale, the chief executive officer directly owned 689,040 shares in the company, valued at $33,191,056.80. This represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was 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 owned 75,098 shares of the company’s stock, valued at $3,679,051.02. This trade represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 178,958 shares of company stock valued at $9,362,262. Company insiders own 1.10% of the company’s stock.

Equitable Trading Down 7.4%

NYSE:EQH opened at $45.22 on Thursday. 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 firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of -16.38 and a beta of 1.17. 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 price of $50.91 and a 200-day moving average price of $52.04.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.11). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Equitable had a positive return on equity of 87.99% and a negative net margin of 5.80%.The company’s revenue for the quarter was down 52.8% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share. Sell-side analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQH shares. Morgan Stanley lowered their price objective on Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Wells Fargo & Company upped their price objective on Equitable from $63.00 to $65.00 and gave the company an “overweight” rating 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equitable in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered shares of Equitable from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. One equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.45.

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.