Redwood Investment Management LLC Buys New Shares in Equitable Holdings, Inc. $EQH

Redwood Investment Management LLC bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,974 shares of the company’s stock, valued at approximately $2,193,000.

A number of other hedge funds have also recently added to or reduced their stakes in EQH. Corient Private Wealth LP purchased a new stake in Equitable in the 2nd quarter valued at about $870,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Equitable during the 2nd quarter worth about $9,918,196,000. Bank of America Corp DE acquired a new stake in shares of Equitable in the second quarter worth approximately $41,369,000. Basswood Capital Management L.L.C. acquired a new stake in shares of Equitable in the second quarter worth approximately $15,871,000. Finally, Caisse de depot et placement du Quebec purchased a new stake in Equitable in the second quarter valued at approximately $21,194,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Mizuho set a $68.00 price objective on Equitable in a report on Thursday, August 6th. Zacks Research raised Equitable from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wolfe Research cut Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, Evercore reissued an “outperform” rating and set a $66.00 price target on shares of Equitable in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and an average target price of $61.75.

Insider Transactions at Equitable

In other Equitable news, Director Craig C. Mackay sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total value of $113,014.00. Following the transaction, the director directly owned 18,999 shares of the company’s stock, valued at $975,978.63. This trade represents a 10.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William James Iv Eckert sold 947 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $52.88, for a total value of $50,077.36. Following the transaction, the chief accounting officer owned 8,419 shares in the company, valued at approximately $445,196.72. This represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,541 shares of company stock worth $5,357,784 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Equitable Trading Up 2.2%

Shares of EQH stock opened at $49.99 on Thursday. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of -15.10, a price-to-earnings-growth ratio of 0.48 and a beta of 1.09. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $55.15. The firm’s 50 day moving average price is $48.12 and its two-hundred day moving average price is $43.51.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. Equitable’s revenue for the quarter was down 29.8% on a year-over-year basis. On average, analysts anticipate that Equitable Holdings, Inc. will post 7.16 EPS for the current year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable’s dividend payout ratio is -36.25%.

Equitable Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.