Equitable (NYSE:EQH) Reaches New 12-Month Low – Time to Sell?

Equitable Holdings, Inc. (NYSE:EQH) shares hit a new 52-week low on Monday . The company traded as low as $40.50 and last traded at $40.5840, with a volume of 747680 shares. The stock had previously closed at $44.22.

Analyst Ratings Changes

EQH has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Equitable from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Wells Fargo & Company lowered their price objective on Equitable from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Mizuho set a $65.00 target price on Equitable in a report on Wednesday, January 14th. BMO Capital Markets restated an “outperform” rating on shares of Equitable in a report on Wednesday, December 17th. Finally, UBS Group dropped their price target on shares of Equitable from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.42.

Equitable Price Performance

The firm has a fifty day moving average of $46.72 and a 200 day moving average of $48.66. The company has a current ratio of 0.10, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42. The company has a market capitalization of $11.51 billion, a P/E ratio of -8.33, a P/E/G ratio of 0.34 and a beta of 1.12.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, March 4th. Equitable’s payout ratio is presently -22.41%.

Equitable announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 11th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction on Tuesday, January 20th. The stock was 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 of the company’s stock, valued at $30,166,059. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nick Lane sold 30,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $47.87, for a total value of $1,436,100.00. Following the sale, the insider owned 119,958 shares of the company’s stock, valued at approximately $5,742,389.46. This trade represents a 20.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 157,280 shares of company stock valued at $7,455,677. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. purchased a new stake in Equitable during the third quarter valued at approximately $26,000. True Wealth Design LLC raised its stake in shares of Equitable by 592.6% in the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after buying an additional 480 shares during the period. Covestor Ltd grew its stake 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. Root Financial Partners LLC bought a new position in shares of Equitable during the 3rd quarter valued at approximately $36,000. Finally, Hilltop National Bank purchased a new stake in Equitable in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

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.