Assenagon Asset Management S.A. Has $608,000 Stock Position in Equitable Holdings, Inc. $EQH

Assenagon Asset Management S.A. reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 88.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,964 shares of the company’s stock after selling 93,040 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Equitable were worth $608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EQH. Nordea Investment Management AB raised its stake in shares of Equitable by 18.3% in the second quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock worth $223,168,000 after acquiring an additional 615,314 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Equitable by 53.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock worth $971,000 after purchasing an additional 6,065 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in Equitable during the 2nd quarter worth $817,000. Assetmark Inc. lifted its stake in shares of Equitable by 3,555.3% during the second quarter. Assetmark Inc. now owns 21,932 shares of the company’s stock valued at $1,230,000 after acquiring an additional 21,332 shares during the period. Finally, Applied Finance Capital Management LLC bought a new position in Equitable in the second quarter valued at about $434,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EQH. Wall Street Zen lowered Equitable from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Evercore ISI boosted their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Wells Fargo & Company reduced their target price on Equitable from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Equitable in a report on Monday. Finally, Morgan Stanley decreased their price target on shares of Equitable from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $48.35, for a total transaction of $328,296.50. Following the sale, the chief operating officer owned 61,813 shares in the company, valued at approximately $2,988,658.55. This trade represents a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $47.88, for a total transaction of $1,900,836.00. Following the transaction, the chief executive officer owned 665,445 shares of the company’s stock, valued at approximately $31,861,506.60. This represents a 5.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 173,770 shares of company stock worth $8,120,014. Insiders own 1.10% of the company’s stock.

Equitable Stock Performance

NYSE:EQH opened at $48.74 on Friday. Equitable Holdings, Inc. has a 1-year low of $41.39 and a 1-year high of $56.61. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 11.87. The stock has a 50 day simple moving average of $46.82 and a 200 day simple moving average of $50.68. The stock has a market cap of $13.97 billion, a P/E ratio of -17.66 and a beta of 1.12.

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

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 24th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 24th. Equitable’s payout ratio is -39.13%.

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.