Equitable Holdings, Inc. $EQH Shares Bought by Callodine Capital Management LP

Callodine Capital Management LP raised its stake in Equitable Holdings, Inc. (NYSE:EQH) by 131.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 739,843 shares of the company’s stock after purchasing an additional 419,554 shares during the quarter. Equitable accounts for 4.3% of Callodine Capital Management LP’s investment portfolio, making the stock its 8th biggest holding. Callodine Capital Management LP owned about 0.25% of Equitable worth $41,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EQH. LPL Financial LLC grew its position in Equitable by 16.5% in the 1st quarter. LPL Financial LLC now owns 71,414 shares of the company’s stock valued at $3,720,000 after buying an additional 10,089 shares during the last quarter. US Bancorp DE lifted its stake in shares of Equitable by 21.2% in the 1st quarter. US Bancorp DE now owns 10,416 shares of the company’s stock worth $543,000 after acquiring an additional 1,821 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Equitable by 15.5% in the first quarter. Headlands Technologies LLC now owns 4,303 shares of the company’s stock valued at $224,000 after acquiring an additional 578 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Equitable by 0.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 246,818 shares of the company’s stock worth $12,857,000 after acquiring an additional 1,498 shares during the period. Finally, Forsta AP Fonden raised its holdings in Equitable by 171.2% during the first quarter. Forsta AP Fonden now owns 166,500 shares of the company’s stock worth $8,673,000 after purchasing an additional 105,100 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of EQH stock opened at $45.82 on Friday. The stock has a fifty day moving average price of $47.32 and a 200 day moving average price of $51.14. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $13.13 billion, a PE ratio of -16.60 and a beta of 1.12. Equitable Holdings, Inc. has a 1 year low of $41.39 and a 1 year high of $56.61.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the business earned $1.58 EPS. The company’s quarterly revenue was down 52.8% compared to the same quarter last year. Sell-side analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 24th were given a dividend of $0.27 per share. The ex-dividend date was Monday, November 24th. This represents a $1.08 dividend on an annualized basis and a yield of 2.4%. Equitable’s payout ratio is presently -39.13%.

Wall Street Analyst Weigh In

EQH has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Wolfe Research upgraded Equitable to a “strong-buy” rating in a research note on Tuesday, September 16th. Morgan Stanley dropped their price objective on Equitable from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company reduced their target price on Equitable from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Equitable from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.18.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $43.28, for a total transaction of $293,871.20. Following the sale, the chief operating officer owned 68,308 shares in the company, valued at approximately $2,956,370.24. This represents a 9.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $43.14, for a total value of $1,712,658.00. Following the completion of the transaction, the chief executive officer directly owned 676,540 shares of the company’s stock, valued at approximately $29,185,935.60. This trade represents a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 176,358 shares of company stock valued at $8,760,599 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Equitable Profile

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.