Moore Capital Management LP Makes New $15.16 Million Investment in Equitable Holdings, Inc. $EQH

Moore Capital Management LP bought a new position in Equitable Holdings, Inc. (NYSE:EQH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 345,408 shares of the company’s stock, valued at approximately $15,157,000. Moore Capital Management LP owned about 0.13% of Equitable as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Equitable by 13.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,976 shares of the company’s stock valued at $14,965,000 after purchasing an additional 36,135 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Equitable by 20.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 627,169 shares of the company’s stock worth $23,274,000 after purchasing an additional 104,439 shares during the period. Norges Bank purchased a new position in shares of Equitable in the 4th quarter worth about $550,995,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Equitable in the 4th quarter worth about $49,209,000. Finally, Diamond Hill Capital Management Inc. grew its position in Equitable by 114.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock valued at $204,640,000 after buying an additional 2,294,902 shares during the period. 92.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $48.54, for a total transaction of $1,927,038.00. Following the sale, the chief executive officer owned 753,403 shares of the company’s stock, valued at approximately $36,570,181.62. This represents a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bertram L. Scott sold 1,466 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $51.15, for a total transaction of $74,985.90. Following the completion of the sale, the director owned 26,465 shares in the company, valued at $1,353,684.75. This represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,541 shares of company stock worth $5,357,784 in the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

EQH has been the subject of a number of research analyst reports. Wolfe Research downgraded shares of Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Mizuho set a $68.00 target price on shares of Equitable in a research report on Thursday, August 6th. Zacks Research raised shares of Equitable from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings lowered shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Finally, UBS Group lifted their price target on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.75.

Equitable Stock Performance

Shares of EQH opened at $50.15 on Monday. Equitable Holdings, Inc. has a 52-week low of $35.19 and a 52-week high of $55.15. The stock’s 50-day simple moving average is $48.30 and its 200 day simple moving average is $43.57. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of -15.15, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. The company’s quarterly revenue was down 29.8% compared to the same quarter last year. Research analysts forecast that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.4%. Equitable’s payout ratio is currently -36.25%.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.