Point72 Asset Management L.P. Invests $9.87 Million in Equitable Holdings, Inc. (NYSE:EQH)

Point72 Asset Management L.P. acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 241,491 shares of the company’s stock, valued at approximately $9,867,000. Point72 Asset Management L.P. owned 0.07% of Equitable as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of EQH. Quarry LP raised its holdings in shares of Equitable by 623.5% during the second quarter. Quarry LP now owns 2,366 shares of the company’s stock worth $97,000 after acquiring an additional 2,039 shares during the period. Invst LLC boosted its position in shares of Equitable by 5.0% during the second quarter. Invst LLC now owns 23,881 shares of the company’s stock worth $975,000 after buying an additional 1,139 shares during the period. Algert Global LLC grew its holdings in shares of Equitable by 33.2% during the second quarter. Algert Global LLC now owns 14,188 shares of the company’s stock worth $580,000 after buying an additional 3,540 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Equitable in the 2nd quarter valued at approximately $9,344,000. Finally, Millennium Management LLC lifted its stake in Equitable by 63.3% in the 2nd quarter. Millennium Management LLC now owns 954,727 shares of the company’s stock valued at $39,010,000 after acquiring an additional 369,981 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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 note on Monday, July 8th. UBS Group cut shares of Equitable from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price objective on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Truist Financial lifted their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup increased their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.64.

Equitable Trading Up 0.1 %

Shares of EQH stock opened at $42.03 on Tuesday. The stock has a 50 day simple moving average of $40.86 and a 200 day simple moving average of $39.89. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The stock has a market cap of $13.67 billion, a P/E ratio of 13.01 and a beta of 1.42.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion for 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 period in the prior year, the firm posted $1.17 EPS. On average, research analysts predict that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s payout ratio is presently 29.72%.

Insider Buying and Selling at Equitable

In other news, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the completion of the transaction, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The disclosure for this sale can be found here. Insiders sold a total of 73,469 shares of company stock worth $3,067,434 over the last three months. Corporate insiders own 1.10% of the company’s stock.

About Equitable

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.