Magnetar Financial LLC Invests $1.51 Million in Equitable Holdings, Inc. (NYSE:EQH)

Magnetar Financial LLC bought a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,004 shares of the company’s stock, valued at approximately $1,512,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQH. Dynamic Technology Lab Private Ltd bought a new position in Equitable during the fourth quarter valued at $362,000. Trexquant Investment LP purchased a new position in Equitable in the fourth quarter worth about $834,000. Franklin Resources Inc. grew its position in Equitable by 127.8% in the fourth quarter. Franklin Resources Inc. now owns 210,673 shares of the company’s stock worth $7,015,000 after acquiring an additional 118,178 shares in the last quarter. Advisory Services Network LLC bought a new stake in Equitable during the fourth quarter worth approximately $349,000. Finally, Nomura Asset Management Co. Ltd. raised its position in Equitable by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock valued at $2,949,000 after purchasing an additional 329 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the sale, the chief operating officer now directly owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the transaction, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at $28,635,021. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the transaction, the chief operating officer now directly owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,469 shares of company stock worth $3,067,434. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EQH. Barclays started coverage on Equitable in a report on Wednesday, September 4th. They issued an “overweight” rating and a $59.00 target price for the company. Truist Financial lifted their price objective on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Citigroup lifted their price target on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley reduced their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Four 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.64.

Equitable Price Performance

Equitable stock opened at $42.28 on Tuesday. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 13.09 and a beta of 1.42. The firm has a 50-day moving average of $40.89 and a two-hundred day moving average of $39.62. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. Equitable’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, research analysts forecast that Equitable Holdings, Inc. will post 6.01 earnings per share for the current year.

Equitable Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.27%. Equitable’s dividend payout ratio is currently 29.72%.

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.