Equitable Holdings, Inc. (NYSE:EQH) Sees Significant Decline in Short Interest

Equitable Holdings, Inc. (NYSE:EQHGet Rating) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 5,200,000 shares, a drop of 28.7% from the March 15th total of 7,290,000 shares. Based on an average trading volume of 3,560,000 shares, the short-interest ratio is presently 1.5 days. Currently, 1.3% of the company’s stock are sold short.

In related news, COO Jeffrey J. Hurd sold 8,000 shares of Equitable stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $31.74, for a total transaction of $253,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. The disclosure for this sale can be found here. Insiders sold a total of 123,725 shares of company stock valued at $4,073,472 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in EQH. D Orazio & Associates Inc. bought a new position in Equitable in the third quarter valued at approximately $25,000. CWM LLC bought a new position in Equitable in the fourth quarter valued at approximately $25,000. UMB Bank N A MO bought a new position in Equitable in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC bought a new position in Equitable in the fourth quarter valued at approximately $27,000. Finally, Glenmede Trust Co. NA increased its stake in Equitable by 59.7% in the fourth quarter. Glenmede Trust Co. NA now owns 1,009 shares of the company’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE EQH traded down $0.33 during midday trading on Friday, reaching $30.68. The company’s stock had a trading volume of 1,548,274 shares, compared to its average volume of 2,632,728. Equitable has a fifty-two week low of $27.53 and a fifty-two week high of $37.13. The business’s 50 day moving average price is $31.85 and its two-hundred day moving average price is $32.74. The company has a market cap of $11.79 billion, a P/E ratio of 2.19 and a beta of 1.55.

Equitable (NYSE:EQHGet Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts anticipate that Equitable will post 6.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 7th. Investors of record on Monday, February 28th were paid a $0.18 dividend. The ex-dividend date was Friday, February 25th. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. Equitable’s dividend payout ratio (DPR) is 5.15%.

A number of research firms recently commented on EQH. Wells Fargo & Company reduced their price target on Equitable from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, January 4th. TheStreet cut Equitable from a “b-” rating to a “c+” rating in a report on Monday, March 14th. Royal Bank of Canada upgraded Equitable to an “outperform” rating in a report on Tuesday, January 4th. Jefferies Financial Group assumed coverage on shares of Equitable in a research report on Tuesday, January 25th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Barclays raised their price objective on shares of Equitable from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.09.

About Equitable (Get Rating)

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.

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