361,690 Shares in Equitable Holdings, Inc. $EQH Purchased by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 361,690 shares of the company’s stock, valued at approximately $15,871,000.

A number of other hedge funds also recently bought and sold shares of EQH. BlackRock Inc. acquired a new position in shares of Equitable during the second quarter worth about $1,136,305,000. Norges Bank acquired a new stake in Equitable in the fourth quarter valued at approximately $550,995,000. Canada Pension Plan Investment Board acquired a new stake in Equitable in the second quarter valued at approximately $399,576,000. Pzena Investment Management LLC purchased a new position in Equitable in the second quarter worth approximately $244,052,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Equitable during the 2nd quarter worth approximately $208,146,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of Equitable stock opened at $49.99 on Thursday. 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 52 week low of $35.19 and a 52 week high of $55.15. The firm’s 50 day moving average is $48.12 and its two-hundred day moving average is $43.51. The firm has a market capitalization of $13.65 billion, a P/E ratio of -15.10, a P/E/G ratio of 0.48 and a beta of 1.09.

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

Equitable Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore reissued an “outperform” rating and issued a $66.00 price objective on shares of Equitable in a research report on Thursday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Mizuho set a $68.00 target price on Equitable in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Insiders Place Their Bets

In other news, Director Craig C. Mackay sold 2,200 shares of the business’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 completion of the sale, the director directly owned 18,999 shares of the company’s stock, valued at approximately $975,978.63. The trade was a 10.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William James Iv Eckert sold 947 shares of the firm’s stock in a transaction that occurred on 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 $445,196.72. This represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 114,541 shares of company stock worth $5,357,784. Corporate insiders own 1.00% of the company’s stock.

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.