Equitable Holdings, Inc. $EQH Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 53.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,315 shares of the company’s stock after acquiring an additional 6,065 shares during the period. Pinnacle Associates Ltd.’s holdings in Equitable were worth $971,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EQH. Atlas Capital Advisors Inc. increased its stake in Equitable by 310.2% in the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company’s stock worth $904,000 after purchasing an additional 13,120 shares in the last quarter. Nordea Investment Management AB increased its stake in Equitable by 18.3% in the 2nd quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock worth $223,168,000 after purchasing an additional 615,314 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Equitable in the 1st quarter worth about $255,000. Cullen Frost Bankers Inc. purchased a new position in Equitable in the 2nd quarter worth about $73,000. Finally, Applied Finance Capital Management LLC purchased a new position in Equitable in the 2nd quarter worth about $434,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equitable

In other news, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $48.99, for a total transaction of $332,642.10. Following the completion of the sale, the chief operating officer directly owned 75,098 shares in the company, valued at $3,679,051.02. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bertram L. Scott sold 2,600 shares of Equitable stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the sale, the director owned 26,001 shares of the company’s stock, valued at approximately $1,348,411.86. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,958 shares of company stock valued at $9,362,262 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Down 1.4%

Shares of Equitable stock opened at $48.71 on Tuesday. The firm has a market cap of $14.59 billion, a price-to-earnings ratio of 39.29 and a beta of 1.17. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. Equitable Holdings, Inc. has a 52-week low of $41.39 and a 52-week high of $56.61. The stock has a 50-day simple moving average of $51.19 and a 200-day simple moving average of $52.07.

Wall Street Analyst Weigh In

EQH has been the topic of a number of analyst reports. Wall Street Zen cut Equitable from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Barclays restated an “overweight” rating and set a $63.00 price objective on shares of Equitable in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Equitable from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price objective on Equitable from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company raised their price objective on Equitable from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.45.

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.