Brooklyn Investment Group Takes $124,000 Position in Equitable Holdings, Inc. (NYSE:EQH)

Brooklyn Investment Group acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) in the third quarter, Holdings Channel.com reports. The firm acquired 2,953 shares of the company’s stock, valued at approximately $124,000.

Several other hedge funds also recently bought and sold shares of the company. MQS Management LLC purchased a new position in Equitable during the third quarter worth about $587,000. Friedenthal Financial purchased a new position in shares of Equitable during the second quarter worth about $831,000. Maverick Capital Ltd. grew its holdings in shares of Equitable by 230.0% during the second quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock worth $1,505,000 after purchasing an additional 25,678 shares in the last quarter. TCW Group Inc. increased its position in shares of Equitable by 94.6% in the second quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock worth $5,484,000 after purchasing an additional 65,232 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Equitable by 55.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock valued at $2,564,000 after purchasing an additional 22,346 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Activity

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the sale, the chief operating officer now owns 105,246 shares in the company, valued at approximately $5,002,342.38. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the transaction, the chief executive officer now owns 668,555 shares of the company’s stock, valued at $27,263,672.90. The trade was a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,166 shares of company stock valued at $4,443,605. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EQH has been the topic of a number of research analyst reports. Barclays increased their price target on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Truist Financial increased their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Finally, Wells Fargo & Company upped their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.70.

Equitable Price Performance

EQH stock opened at $48.06 on Thursday. Equitable Holdings, Inc. has a 12-month low of $29.29 and a 12-month high of $50.51. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of -44.09 and a beta of 1.40. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. The firm’s 50-day moving average price is $45.02 and its two-hundred day moving average price is $42.28.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. The business’s revenue was down 15.1% compared to the same quarter last year. As a group, equities analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, November 26th. Equitable’s payout ratio is -88.07%.

Equitable Company 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.