Connor Clark & Lunn Investment Management Ltd. Makes New $3.31 Million Investment in Equitable Holdings, Inc. $EQH

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) during the second quarter, Holdings Channel.com reports. The firm acquired 75,493 shares of the company’s stock, valued at approximately $3,313,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Johnson Financial Group Inc. acquired a new position in Equitable in the third quarter valued at approximately $26,000. Root Financial Partners LLC increased its stake in shares of Equitable by 64.1% in the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock valued at $33,000 after acquiring an additional 347 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Equitable during the 2nd quarter valued at $33,000. Covestor Ltd lifted its position in shares of Equitable by 124.7% during the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after acquiring an additional 404 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Equitable during the third quarter worth $38,000. Institutional investors own 92.70% of the company’s stock.

Insider Activity

In related news, Director Charles G.T. Stonehill sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $51.54, for a total transaction of $386,550.00. Following the transaction, the director directly owned 34,357 shares of the company’s stock, valued at $1,770,759.78. This trade represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey J. Hurd sold 14,358 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $45.11, for a total transaction of $647,689.38. Following the transaction, the chief operating officer owned 74,748 shares in the company, valued at approximately $3,371,882.28. This trade represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 114,541 shares of company stock worth $5,357,784. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

EQH has been the subject of a number of research reports. Weiss Ratings cut shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Mizuho set a $68.00 target price on Equitable in a research note on Thursday, August 6th. Wolfe Research lowered Equitable from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Zacks Research raised Equitable from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Jefferies Financial Group increased their price target on Equitable from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Equitable Stock Performance

NYSE:EQH opened at $50.15 on Friday. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $55.15. The company has a market cap of $13.69 billion, a PE ratio of -15.15, a PEG ratio of 0.49 and a beta of 1.09. The firm has a 50-day moving average of $48.30 and a 200-day moving average of $43.58.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.65 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The company’s quarterly revenue was down 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, equities research analysts expect that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.30 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.4%. Equitable’s dividend payout ratio (DPR) is -36.25%.

Equitable Company 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.