Convergence Investment Partners LLC Raises Stock Position in Equitable Holdings, Inc. $EQH

Convergence Investment Partners LLC boosted its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,949 shares of the company’s stock after purchasing an additional 1,316 shares during the period. Convergence Investment Partners LLC’s holdings in Equitable were worth $1,287,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EQH. GAMMA Investing LLC raised its stake in Equitable by 23.3% during the first quarter. GAMMA Investing LLC now owns 10,371 shares of the company’s stock worth $540,000 after purchasing an additional 1,961 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Equitable by 26.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,841 shares of the company’s stock worth $1,815,000 after purchasing an additional 7,240 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Equitable during the first quarter worth about $252,000. PDS Planning Inc purchased a new position in Equitable during the first quarter worth about $230,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Equitable by 16.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,129 shares of the company’s stock worth $4,811,000 after purchasing an additional 13,436 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $48.17, for a total transaction of $1,912,349.00. Following the sale, the chief executive officer directly owned 689,040 shares of the company’s stock, valued at $33,191,056.80. This represents a 5.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robin M. Raju sold 36,888 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $54.00, for a total transaction of $1,991,952.00. Following the sale, the chief financial officer directly owned 140,258 shares in the company, valued at approximately $7,573,932. The trade was a 20.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,958 shares of company stock valued at $9,362,262 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EQH shares. Wolfe Research raised shares of Equitable to a “strong-buy” rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods boosted their price target on shares of Equitable from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley reduced their price target on shares of Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. JPMorgan Chase & Co. boosted their price target on shares of Equitable from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Barclays reissued an “overweight” rating and issued a $63.00 price target on shares of Equitable in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.45.

Equitable Price Performance

Shares of EQH opened at $48.85 on Monday. Equitable Holdings, Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $56.61. The firm’s 50 day moving average price is $51.69 and its 200 day moving average price is $51.98. The company has a market cap of $14.63 billion, a P/E ratio of 39.39 and a beta of 1.10. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94.

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.