Conifer Management L.L.C. Takes $184.30 Billion Position in Equitable Holdings, Inc. $EQH

Conifer Management L.L.C. bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,200,000 shares of the company’s stock, valued at approximately $184,296,000,000. Equitable accounts for about 30.4% of Conifer Management L.L.C.’s investment portfolio, making the stock its 2nd biggest position.

A number of other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in Equitable in the 3rd quarter valued at $26,000. Root Financial Partners LLC raised its holdings in Equitable by 64.1% during the first quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock worth $33,000 after buying an additional 347 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Equitable in the second quarter valued at $33,000. Covestor Ltd lifted its stake in shares of Equitable by 124.7% in the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after buying an additional 404 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Equitable during the third quarter valued at about $38,000. 92.70% of the stock is currently owned by institutional investors.

Equitable Stock Performance

Shares of EQH stock opened at $49.02 on Tuesday. 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 $13.39 billion, a P/E ratio of -14.81, a P/E/G ratio of 0.48 and a beta of 1.09. The firm has a 50-day moving average of $47.95 and a 200-day moving average of $43.43. 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 (NYSE:EQH) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was down 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. Equities research analysts forecast that Equitable Holdings, Inc. will post 7.16 EPS for the current fiscal year.

Equitable Dividend Announcement

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

Wall Street Analyst Weigh In

EQH has been the subject of several recent research reports. UBS Group boosted their target price on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wolfe Research downgraded Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Barclays increased their price objective on Equitable from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Insider Buying and Selling

In other news, COO Jeffrey J. Hurd sold 14,358 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $45.11, for a total value of $647,689.38. Following the completion of the transaction, the chief operating officer directly owned 74,748 shares of the company’s stock, valued at $3,371,882.28. This represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles G.T. Stonehill sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $51.54, for a total value of $386,550.00. Following the sale, the director directly owned 34,357 shares of the company’s stock, valued at $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 114,541 shares of company stock valued at $5,357,784 over the last quarter. Corporate insiders own 1.00% 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.