53,700 Shares in Equitable Holdings, Inc. $EQH Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC purchased a new stake in Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,700 shares of the company’s stock, valued at approximately $3,013,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQH. WPG Advisers LLC bought a new stake in Equitable during the first quarter valued at $27,000. True Wealth Design LLC boosted its holdings in Equitable by 592.6% in the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after acquiring an additional 480 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Equitable in the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. increased its holdings in shares of Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after acquiring an additional 424 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Equitable during the second quarter worth approximately $73,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Stock Performance

Shares of Equitable stock opened at $43.14 on Wednesday. The business’s fifty day simple moving average is $49.35 and its 200 day simple moving average is $51.76. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 11.87. Equitable Holdings, Inc. has a 12 month low of $41.39 and a 12 month high of $56.61. The firm has a market capitalization of $12.36 billion, a P/E ratio of -15.63 and a beta of 1.17.

Equitable (NYSE:EQH) last announced its earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.11). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The company’s revenue for the quarter was down 52.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 earnings per share. As a group, analysts anticipate that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 24th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 2.5%. Equitable’s payout ratio is currently -39.13%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wolfe Research upgraded shares of Equitable to a “strong-buy” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Equitable in a report on Monday. Wall Street Zen lowered shares of Equitable from a “hold” rating to a “sell” rating in a report on Sunday. Morgan Stanley dropped their price target on shares of Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Equitable from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. One investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.18.

Insider Activity at Equitable

In related news, Director Bertram L. Scott sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robin M. Raju sold 36,888 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $54.00, for a total value of $1,991,952.00. Following the completion of the sale, the chief financial officer directly owned 140,258 shares of the company’s stock, valued at $7,573,932. This represents a 20.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 139,258 shares of company stock valued at $7,182,777 in the last three months. Insiders own 1.10% 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.