Royal London Asset Management Ltd. Sells 10,591 Shares of Equitable Holdings, Inc. $EQH

Royal London Asset Management Ltd. decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,216 shares of the company’s stock after selling 10,591 shares during the period. Royal London Asset Management Ltd.’s holdings in Equitable were worth $5,056,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its holdings in shares of Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 424 shares in the last quarter. Jump Financial LLC bought a new stake in Equitable in the second quarter valued at $1,712,000. Gamco Investors INC. ET AL bought a new stake in Equitable in the second quarter valued at $1,133,000. Qube Research & Technologies Ltd raised 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 acquiring an additional 267,389 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Equitable by 45.8% during the second quarter. Sei Investments Co. now owns 626,017 shares of the company’s stock worth $35,120,000 after acquiring an additional 196,729 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equitable news, Director Bertram L. Scott sold 2,470 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $41.08, for a total value of $101,467.60. Following the transaction, the director directly owned 27,931 shares of the company’s stock, valued at approximately $1,147,405.48. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles G.T. Stonehill sold 7,500 shares of Equitable stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $51.54, for a total transaction of $386,550.00. Following the sale, the director directly owned 34,357 shares of the company’s stock, valued at $1,770,759.78. This represents a 17.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,541 shares of company stock valued at $5,357,784 over the last three months. 1.00% of the stock is owned by insiders.

Equitable Price Performance

Shares of EQH stock opened at $50.21 on Tuesday. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $55.15. The stock has a market capitalization of $13.71 billion, a PE ratio of -15.17, a PEG ratio of 0.49 and a beta of 1.09. 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’s fifty day moving average is $48.41 and its 200-day moving average is $43.60.

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

Equitable Announces Dividend

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable’s payout ratio is -36.25%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Wells Fargo & Company lifted their price target on shares of Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Wolfe Research lowered shares of Equitable from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised shares of Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

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.