Caisse de depot et placement du Quebec Buys Shares of 482,997 Equitable Holdings, Inc. $EQH

Caisse de depot et placement du Quebec bought a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) in the second quarter, Holdings Channel reports. The fund bought 482,997 shares of the company’s stock, valued at approximately $21,194,000.

Other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in shares of Equitable in the 3rd quarter worth approximately $26,000. Covestor Ltd grew its holdings in Equitable by 124.7% during the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after purchasing an additional 404 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Equitable in the third quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Equitable in the second quarter valued at $33,000. Finally, Geneos Wealth Management Inc. boosted its position in Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Transactions at Equitable

In other news, Director Charles G.T. Stonehill sold 7,500 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $51.54, for a total transaction of $386,550.00. Following the completion of the transaction, the director directly owned 34,357 shares in the company, valued at $1,770,759.78. The trade was a 17.92% decrease in their position. 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 company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $45.11, for a total transaction of $647,689.38. Following the completion of the transaction, the chief operating officer directly owned 74,748 shares in the company, valued at approximately $3,371,882.28. The trade was a 16.11% decrease in their position. 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 90 days, insiders sold 114,541 shares of company stock worth $5,357,784. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $66.00 target price on shares of Equitable in a research note on Thursday, August 20th. Weiss Ratings cut shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. UBS Group lifted their price objective on shares of Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Mizuho set a $68.00 target price on shares of Equitable in a report on Thursday, August 6th. Finally, Wolfe Research downgraded Equitable from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Equitable Price Performance

EQH stock opened at $50.15 on Friday. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15. The firm has a market capitalization of $13.69 billion, a PE ratio of -15.15, a PEG ratio of 0.49 and a beta of 1.09. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The stock has a 50-day simple moving average of $48.30 and a two-hundred day simple moving average of $43.58.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. Equitable’s revenue was down 29.8% compared to the same quarter last year. During the same period last year, the business earned $1.10 earnings per share. On average, equities analysts predict that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $0.30 dividend. 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 is currently -36.25%.

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.