Seven Eight Capital LP Has $1.48 Million Position in Equitable Holdings, Inc. (NYSE:EQH)

Seven Eight Capital LP lessened its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 80.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,248 shares of the company’s stock after selling 153,274 shares during the period. Seven Eight Capital LP’s holdings in Equitable were worth $1,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. New Covenant Trust Company N.A. purchased a new position in Equitable during the 1st quarter valued at about $28,000. LRI Investments LLC purchased a new position in Equitable during the first quarter valued at approximately $45,000. Rise Advisors LLC increased its stake in Equitable by 1,421.4% in the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares during the period. GAMMA Investing LLC lifted its position in Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after buying an additional 405 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Equitable by 261.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,269 shares of the company’s stock valued at $76,000 after buying an additional 1,641 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

NYSE EQH opened at $42.47 on Friday. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50. The company has a fifty day simple moving average of $40.89 and a 200 day simple moving average of $39.39. 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 company has a market cap of $13.81 billion, a P/E ratio of 13.15 and a beta of 1.42.

Equitable (NYSE:EQH) last released 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 company had revenue of $3.51 billion during 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 quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. On average, sell-side analysts predict that Equitable Holdings, Inc. will post 6.01 EPS for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is currently 29.72%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EQH shares. JPMorgan Chase & Co. increased their price objective on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Truist Financial raised their price target on 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 boosted their price target on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Citigroup raised 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. Finally, Keefe, Bruyette & Woods boosted their target price 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.64.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the sale, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s 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 transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at approximately $4,806,775.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 668,555 shares in the company, valued at $27,263,672.90. The disclosure for this sale can be found here. Insiders have sold a total of 69,969 shares of company stock valued at $2,918,964 in the last three months. Company insiders own 1.10% of the company’s stock.

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.