Clearbridge Investments LLC Sells 1,840,486 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Clearbridge Investments LLC decreased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 63.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,081,001 shares of the company’s stock after selling 1,840,486 shares during the period. Clearbridge Investments LLC owned about 0.32% of Equitable worth $35,997,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EQH. Lindbrook Capital LLC boosted its position in Equitable by 143.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after purchasing an additional 591 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Equitable by 126.2% in the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after buying an additional 704 shares during the period. GAMMA Investing LLC bought a new stake in shares of Equitable in the fourth quarter valued at $50,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Equitable in the fourth quarter valued at $64,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Equitable by 261.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,269 shares of the company’s stock valued at $76,000 after buying an additional 1,641 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

Shares of EQH stock opened at $40.65 on Thursday. The stock has a market capitalization of $13.22 billion, a PE ratio of 12.59 and a beta of 1.40. Equitable Holdings, Inc. has a 1-year low of $24.23 and a 1-year high of $41.19. The business has a 50-day moving average of $37.84 and a 200 day moving average of $34.21.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the business posted $0.96 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that Equitable Holdings, Inc. will post 6.08 EPS for the current year.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 60,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.77, for a total value of $2,026,200.00. Following the completion of the transaction, the chief executive officer now owns 703,254 shares of the company’s stock, valued at approximately $23,748,887.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mark Pearson sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.77, for a total transaction of $2,026,200.00. Following the completion of the transaction, the chief executive officer now owns 703,254 shares of the company’s stock, valued at approximately $23,748,887.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bertram L. Scott sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $35.29, for a total value of $247,030.00. Following the transaction, the director now directly owns 20,902 shares of the company’s stock, valued at approximately $737,631.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,380 shares of company stock valued at $11,348,471. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EQH has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price objective on Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Morgan Stanley boosted their price objective on Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Evercore ISI boosted their price objective on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company decreased their target price on Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Truist Financial upped their target price on Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.10.

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.