Pinnacle Associates Ltd. Has $586,000 Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Pinnacle Associates Ltd. decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 3.5% in the 1st quarter, HoldingsChannel reports. The firm owned 11,250 shares of the company’s stock after selling 410 shares during the period. Pinnacle Associates Ltd.’s holdings in Equitable were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Convergence Investment Partners LLC acquired a new stake in shares of Equitable during the first quarter worth $1,127,000. Oak Thistle LLC acquired a new stake in shares of Equitable during the first quarter worth $2,599,000. Four Tree Island Advisory LLC lifted its holdings in shares of Equitable by 3.8% during the first quarter. Four Tree Island Advisory LLC now owns 421,462 shares of the company’s stock worth $21,954,000 after buying an additional 15,612 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Equitable during the first quarter worth $635,000. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Equitable by 97.6% during the first quarter. AustralianSuper Pty Ltd now owns 748,829 shares of the company’s stock worth $39,007,000 after buying an additional 369,876 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of Equitable stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the transaction, the chief accounting officer owned 19,827 shares in the company, valued at $1,052,615.43. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $52.22, for a total value of $1,566,600.00. Following the completion of the transaction, the chief executive officer owned 714,367 shares in the company, valued at approximately $37,304,244.74. This represents a 4.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,666 shares of company stock worth $7,145,208. Insiders own 1.10% of the company’s stock.

Equitable Stock Up 1.0%

Shares of NYSE EQH opened at $52.58 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.10 and a current ratio of 0.10. Equitable Holdings, Inc. has a 52 week low of $36.46 and a 52 week high of $56.61. The stock has a market capitalization of $15.86 billion, a P/E ratio of 14.29 and a beta of 1.15. The stock’s fifty day moving average is $53.50 and its 200 day moving average is $52.14.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.14). Equitable had a net margin of 8.50% and a return on equity of 79.05%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue was up 105.2% on a year-over-year basis. Sell-side analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.05%. Equitable’s dividend payout ratio is presently 29.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on Equitable from $77.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Evercore ISI dropped their target price on Equitable from $69.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on Equitable from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their target price on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $66.00 price target (up previously from $61.00) on shares of Equitable in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.30.

Equitable 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.