Truist Financial Corp Purchases 21,127 Shares of Equitable Holdings, Inc. $EQH

Truist Financial Corp raised its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 180.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,820 shares of the company’s stock after purchasing an additional 21,127 shares during the period. Truist Financial Corp’s holdings in Equitable were worth $1,667,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Equitable by 592.6% during the 2nd quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after acquiring an additional 480 shares during the period. Root Financial Partners LLC bought a new position in shares of Equitable in the third quarter worth about $36,000. Hilltop National Bank bought a new position in shares of Equitable in the third quarter worth about $37,000. Geneos Wealth Management Inc. boosted its stake in shares of Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after purchasing an additional 424 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of Equitable by 64.0% during the 2nd quarter. MAI Capital Management now owns 938 shares of the company’s stock valued at $53,000 after purchasing an additional 366 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

Insider Transactions at Equitable

In other Equitable news, insider Nick Lane sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the sale, the insider directly owned 99,958 shares of the company’s stock, valued at $4,762,998.70. This represents a 23.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $323,543.50. Following the completion of the transaction, the chief operating officer owned 55,023 shares of the company’s stock, valued at $2,621,845.95. The trade was a 10.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 203,770 shares of company stock valued at $9,462,206. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Performance

Shares of EQH opened at $45.58 on Friday. Equitable Holdings, Inc. has a 12 month low of $41.39 and a 12 month high of $56.61. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of -9.46, a PEG ratio of 0.35 and a beta of 1.12. The stock has a 50 day moving average of $47.07 and a 200 day moving average of $49.15. The company has a current ratio of 0.10, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 24th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, November 24th. Equitable’s payout ratio is -22.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQH shares. BMO Capital Markets reiterated an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. UBS Group cut their price target on shares of Equitable from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday. Barclays decreased their price objective on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Equitable in a report on Monday, December 29th. Finally, Zacks Research lowered Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.23.

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.