Community Trust & Investment Co. Has $20.93 Million Stock Holdings in Equitable Holdings, Inc. $EQH

Community Trust & Investment Co. boosted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 22.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 476,885 shares of the company’s stock after purchasing an additional 88,484 shares during the quarter. Equitable comprises approximately 1.1% of Community Trust & Investment Co.’s investment portfolio, making the stock its 27th biggest position. Community Trust & Investment Co. owned about 0.17% of Equitable worth $20,926,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EQH. GAMMA Investing LLC raised its position in shares of Equitable by 30.8% in the second quarter. GAMMA Investing LLC now owns 11,919 shares of the company’s stock valued at $523,000 after purchasing an additional 2,805 shares during the period. Harbor Investment Advisory LLC lifted its stake in shares of Equitable by 557.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,545 shares of the company’s stock worth $68,000 after buying an additional 1,310 shares during the last quarter. CX Institutional boosted its holdings in shares of Equitable by 30.2% during the 2nd quarter. CX Institutional now owns 1,282 shares of the company’s stock worth $56,000 after buying an additional 297 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Equitable by 3.6% during the 1st quarter. Pacer Advisors Inc. now owns 47,664 shares of the company’s stock worth $1,769,000 after buying an additional 1,643 shares during the period. Finally, Essential Partners LLC grew its stake in Equitable by 245.2% in the 1st quarter. Essential Partners LLC now owns 1,084 shares of the company’s stock valued at $40,000 after buying an additional 770 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Equitable from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Zacks Research raised Equitable from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wells Fargo & Company increased their target price on Equitable from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. dropped their price target on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, UBS Group boosted their price target on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Equitable has an average rating of “Moderate Buy” and an average target price of $60.75.

Equitable Stock Performance

NYSE EQH opened at $51.57 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.12 and a debt-to-equity ratio of 4.94. The company has a market capitalization of $14.08 billion, a P/E ratio of -15.58, a P/E/G ratio of 0.52 and a beta of 1.09. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $55.24. The firm has a 50-day moving average price of $45.98 and a two-hundred day moving average price of $43.07.

Equitable (NYSE:EQH) last announced its earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 249.82%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was down 29.8% on a year-over-year basis. Analysts anticipate that Equitable Holdings, Inc. will post 7.11 earnings per share for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.3%. Equitable’s payout ratio is currently -36.25%.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $48.54, for a total value of $1,927,038.00. Following the transaction, the chief executive officer owned 753,403 shares in the company, valued at approximately $36,570,181.62. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nick Lane sold 4,417 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.45, for a total value of $187,501.65. Following the completion of the transaction, the insider directly owned 124,218 shares of the company’s stock, valued at approximately $5,273,054.10. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 128,503 shares of company stock worth $5,840,116 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Equitable Company Profile

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.