Choreo LLC Purchases Shares of 6,567 Equitable Holdings, Inc. (NYSE:EQH)

Choreo LLC purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,567 shares of the company’s stock, valued at approximately $268,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Equitable by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock valued at $1,265,815,000 after buying an additional 446,752 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Equitable by 3.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 18,804,685 shares of the company’s stock valued at $714,766,000 after purchasing an additional 637,916 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Equitable by 1,161.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after purchasing an additional 7,227,568 shares during the last quarter. First Trust Advisors LP raised its position in shares of Equitable by 0.3% in the 4th quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock valued at $207,553,000 after purchasing an additional 18,475 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Equitable by 24.6% in the 4th quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after purchasing an additional 781,426 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Price Performance

Shares of NYSE EQH opened at $41.36 on Thursday. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 12.75 and a beta of 1.42. Equitable Holdings, Inc. has a 12 month low of $24.65 and a 12 month high of $44.50. The firm’s 50 day simple moving average is $40.90 and its 200-day simple moving average is $39.38. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. Analysts expect that Equitable Holdings, Inc. will post 6.01 EPS for the current year.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.32%. Equitable’s payout ratio is 29.72%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Citigroup increased their price objective on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. UBS Group lowered shares of Equitable from a “buy” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. Jefferies Financial Group raised their price target on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.64.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the sale, the chief operating officer now directly owns 111,552 shares in the company, valued at approximately $4,806,775.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,969 shares of company stock valued at $2,918,964. 1.10% of the stock is owned by company insiders.

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.