Everence Capital Management Inc. Buys New Shares in Equitable Holdings, Inc. (NYSE:EQH)

Everence Capital Management Inc. purchased a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,710 shares of the company’s stock, valued at approximately $458,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Equitable by 2.7% during the third quarter. State Street Corp now owns 12,976,870 shares of the company’s stock worth $545,418,000 after purchasing an additional 338,205 shares during the period. Wellington Management Group LLP lifted its stake in Equitable by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,513,571 shares of the company’s stock valued at $231,735,000 after acquiring an additional 161,376 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Equitable by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock valued at $166,855,000 after acquiring an additional 539,904 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Equitable by 24,432.7% during the second quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after purchasing an additional 3,155,487 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Equitable during the second quarter worth $110,176,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Activity at Equitable

In other Equitable news, insider Nick Lane sold 25,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the sale, the insider now owns 141,629 shares in the company, valued at approximately $6,492,273.36. This represents a 15.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the completion of the transaction, the chief executive officer now directly owns 658,555 shares in the company, valued at $29,239,842. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,032 shares of company stock valued at $6,031,759. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EQH shares. Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised Equitable from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $54.00 to $58.00 in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equitable has an average rating of “Moderate Buy” and an average target price of $50.10.

Equitable Price Performance

Shares of NYSE EQH opened at $48.55 on Monday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a fifty day moving average of $47.16 and a 200 day moving average of $43.59. The firm has a market cap of $15.21 billion, a PE ratio of -44.54 and a beta of 1.39. Equitable Holdings, Inc. has a one year low of $31.76 and a one year high of $50.51.

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

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was 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.