Millennium Management LLC Raises Stake in Equitable Holdings, Inc. (NYSE:EQH)

Millennium Management LLC raised its position in Equitable Holdings, Inc. (NYSE:EQH) by 75.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,871,866 shares of the company’s stock after purchasing an additional 802,071 shares during the period. Millennium Management LLC owned 0.60% of Equitable worth $88,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Bessemer Group Inc. grew its stake in shares of Equitable by 111.2% during the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company’s stock worth $32,000 after purchasing an additional 357 shares in the last quarter. Assetmark Inc. boosted its position in shares of Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after acquiring an additional 199 shares in the last quarter. Mizuho Bank Ltd. boosted its position in shares of Equitable by 61.4% during the 4th quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company’s stock worth $53,000 after acquiring an additional 430 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Equitable by 298.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company’s stock valued at $80,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Equitable by 31.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company’s stock worth $80,000 after purchasing an additional 409 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Price Performance

Shares of EQH opened at $53.65 on Thursday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. Equitable Holdings, Inc. has a fifty-two week low of $36.46 and a fifty-two week high of $56.00. The firm has a 50-day simple moving average of $50.04 and a 200-day simple moving average of $49.85. The company has a market capitalization of $16.30 billion, a price-to-earnings ratio of 14.04 and a beta of 1.15.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.14). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.05 billion. Equitable had a return on equity of 85.70% and a net margin of 10.51%. The firm’s revenue was up 105.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. On average, equities research analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Analysts Set New Price Targets

EQH has been the topic of several recent analyst reports. BMO Capital Markets increased their price target on shares of Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Morgan Stanley lowered their target price on shares of Equitable from $68.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company lifted their price target on shares of Equitable from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $61.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on Equitable from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $61.08.

Insider Buying and Selling

In related news, insider Nick Lane sold 5,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.12, for a total transaction of $255,600.00. Following the completion of the transaction, the insider now directly owns 139,073 shares of the company’s stock, valued at $7,109,411.76. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total transaction of $369,163.08. Following the completion of the sale, the chief operating officer now owns 104,298 shares of the company’s stock, valued at approximately $5,776,023.24. The trade was a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,332 shares of company stock valued at $4,141,315 over the last three months. 1.10% of the stock is currently owned by company insiders.

About Equitable

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.