Algebris UK Ltd. Has $36.15 Million Stock Position in Equitable Holdings, Inc. $EQH

Algebris UK Ltd. raised its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 28.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 712,460 shares of the company’s stock after buying an additional 158,488 shares during the period. Equitable makes up 4.1% of Algebris UK Ltd.’s portfolio, making the stock its 7th biggest position. Algebris UK Ltd. owned about 0.24% of Equitable worth $36,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in EQH. Geneos Wealth Management Inc. raised its holdings 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 in the last quarter. Farther Finance Advisors LLC increased its position in shares of Equitable by 118.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,532 shares of the company’s stock valued at $142,000 after purchasing an additional 1,372 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Equitable in the 2nd quarter worth $321,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Equitable by 3.9% in the second quarter. Public Employees Retirement System of Ohio now owns 99,956 shares of the company’s stock valued at $5,608,000 after buying an additional 3,738 shares during the period. Finally, BSW Wealth Partners boosted its stake in Equitable by 5.9% during the second quarter. BSW Wealth Partners now owns 4,259 shares of the company’s stock valued at $239,000 after buying an additional 238 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Stock Down 1.6%

NYSE:EQH opened at $45.64 on Monday. The business’s fifty day moving average price is $46.98 and its 200 day moving average price is $49.62. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of -16.54 and a beta of 1.13. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 11.87. Equitable Holdings, Inc. has a 1-year low of $41.39 and a 1-year high of $56.61.

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

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 24th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, November 24th. Equitable’s dividend payout ratio is currently -39.13%.

Insider Activity at Equitable

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $46.20, for a total value of $1,834,140.00. Following the completion of the sale, the chief executive officer owned 652,945 shares in the company, valued at $30,166,059. This represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,790 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $323,543.50. Following the transaction, the chief operating officer owned 55,023 shares in the company, valued at approximately $2,621,845.95. This represents a 10.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 203,770 shares of company stock worth $9,462,206 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EQH shares. BMO Capital Markets reiterated an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. JPMorgan Chase & Co. upgraded shares of Equitable from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $64.00 to $60.00 in a report on Monday, January 5th. Wall Street Zen cut shares of Equitable from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Raymond James Financial set a $60.00 price target on Equitable in a report on Monday, January 5th. Finally, Wells Fargo & Company reduced their price objective on Equitable from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.54.

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.