Bank of New York Mellon Corp Has $151.82 Million Position in Equitable Holdings, Inc. $EQH

Bank of New York Mellon Corp cut its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,989,780 shares of the company’s stock after selling 22,518 shares during the period. Bank of New York Mellon Corp’s holdings in Equitable were worth $151,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. True Wealth Design LLC grew its stake in Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 480 shares during the period. Root Financial Partners LLC bought a new position in shares of Equitable during the 3rd quarter worth approximately $36,000. Hilltop National Bank acquired a new stake in shares of Equitable during the 3rd quarter worth approximately $37,000. Geneos Wealth Management Inc. increased its stake in shares of Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after acquiring an additional 424 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Equitable by 64.0% during the 2nd quarter. MAI Capital Management now owns 938 shares of the company’s stock valued at $53,000 after acquiring an additional 366 shares during the period. Institutional investors own 92.70% of the company’s stock.

Insider Buying and Selling

In other news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $46.20, for a total value of $1,834,140.00. Following the completion of the sale, the chief executive officer owned 652,945 shares in the company, valued at $30,166,059. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nick Lane sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the transaction, the insider directly owned 99,958 shares in the company, valued at $4,762,998.70. The trade was a 23.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 203,770 shares of company stock valued at $9,462,206. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on EQH. JPMorgan Chase & Co. upgraded shares of Equitable from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $64.00 to $60.00 in a report on Monday, January 5th. The Goldman Sachs Group set a $60.00 target price on Equitable in a research note on Monday, January 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. Morgan Stanley cut their price target on Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, UBS Group reduced their price objective on Equitable from $77.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and an average target price of $62.54.

Equitable Price Performance

Shares of NYSE EQH opened at $46.43 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $56.61. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of -16.82, a PEG ratio of 0.35 and a beta of 1.13. 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’s 50-day simple moving average is $47.22 and its 200 day simple moving average is $49.41.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 107.71% and a negative net margin of 5.80%.The business’s revenue for the quarter was down 52.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. As a group, research analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 24th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 2.3%. Equitable’s dividend payout ratio is -39.13%.

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.