Seth P. Bernstein Sells 152,473 Shares of Equitable Holdings, Inc. (NYSE:EQH) Stock

Equitable Holdings, Inc. (NYSE:EQH) insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the sale, the insider now owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Equitable Stock Performance

Shares of EQH opened at $38.54 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $21.89 and a fifty-two week high of $39.11. The company has a market capitalization of $12.63 billion, a PE ratio of 11.93 and a beta of 1.40. The stock has a fifty day moving average of $36.26 and a two-hundred day moving average of $33.00.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, April 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. Equitable’s payout ratio is currently 27.24%.

Analysts Set New Price Targets

Several research firms recently commented on EQH. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $39.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley upped their price target on shares of Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Equitable from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group upped their target price on Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, UBS Group raised their price target on Equitable from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average price target of $40.10.

Institutional Investors Weigh In On Equitable

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Equitable during the fourth quarter worth approximately $606,630,000. Hsbc Holdings PLC raised its position in shares of Equitable by 1,161.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock worth $262,692,000 after buying an additional 7,227,568 shares during the period. Pzena Investment Management LLC boosted its holdings in Equitable by 10.0% in the third quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company’s stock valued at $763,764,000 after acquiring an additional 2,450,484 shares during the last quarter. Principal Financial Group Inc. grew its position in Equitable by 1,105.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,242,941 shares of the company’s stock valued at $41,390,000 after acquiring an additional 1,139,814 shares during the period. Finally, Northern Trust Corp grew its position in Equitable by 24.6% during the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after acquiring an additional 781,426 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

About Equitable

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.