DNB Asset Management AS Sells 7,272 Shares of Equitable Holdings, Inc. $EQH

DNB Asset Management AS cut its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,442 shares of the company’s stock after selling 7,272 shares during the period. DNB Asset Management AS owned about 0.15% of Equitable worth $26,055,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EQH. BSW Wealth Partners grew its stake in Equitable by 5.9% in the 2nd quarter. BSW Wealth Partners now owns 4,259 shares of the company’s stock valued at $239,000 after purchasing an additional 238 shares during the period. ProShare Advisors LLC grew its position in Equitable by 2.1% during the second quarter. ProShare Advisors LLC now owns 13,473 shares of the company’s stock valued at $756,000 after buying an additional 271 shares during the period. UMB Bank n.a. grew its position in Equitable by 6.6% during the second quarter. UMB Bank n.a. now owns 4,510 shares of the company’s stock valued at $253,000 after buying an additional 281 shares during the period. Ellevest Inc. increased its holdings in Equitable by 4.2% during the second quarter. Ellevest Inc. now owns 9,793 shares of the company’s stock worth $549,000 after buying an additional 397 shares during the last quarter. Finally, PDS Planning Inc raised its position in Equitable by 9.3% in the second quarter. PDS Planning Inc now owns 4,829 shares of the company’s stock worth $271,000 after acquiring an additional 411 shares during the period. 92.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Equitable in a research note on Monday. Wall Street Zen lowered Equitable from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Morgan Stanley lowered their target price on Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Wolfe Research raised Equitable to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Barclays reissued an “overweight” rating and issued a $63.00 price objective on shares of Equitable in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.18.

Equitable Stock Performance

NYSE:EQH opened at $45.11 on Friday. Equitable Holdings, Inc. has a 52-week low of $41.39 and a 52-week high of $56.61. The business’s fifty day moving average is $48.79 and its 200 day moving average is $51.61. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of -16.35 and a beta of 1.17.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.11). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $3.65 billion. Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The company’s quarterly revenue was down 52.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. Research analysts predict that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 24th will be issued a $0.27 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 2.4%. Equitable’s dividend payout ratio (DPR) is -39.13%.

Insider Activity at Equitable

In related news, CFO Robin M. Raju sold 36,888 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $54.00, for a total transaction of $1,991,952.00. Following the transaction, the chief financial officer owned 140,258 shares in the company, valued at $7,573,932. The trade was a 20.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $43.14, for a total transaction of $1,712,658.00. Following the sale, the chief executive officer owned 676,540 shares in the company, valued at approximately $29,185,935.60. This trade represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 176,358 shares of company stock worth $8,760,599 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

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.