Thrivent Financial for Lutherans Reduces Position in Equitable Holdings, Inc. (NYSE:EQH)

Thrivent Financial for Lutherans cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,277 shares of the company’s stock after selling 39,159 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Equitable worth $13,904,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Equitable in the first quarter valued at about $28,000. LRI Investments LLC bought a new position in Equitable in the first quarter valued at about $45,000. Rise Advisors LLC lifted its holdings in Equitable by 1,421.4% in the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after acquiring an additional 1,592 shares during the period. GAMMA Investing LLC lifted its holdings in Equitable by 26.4% in the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after acquiring an additional 405 shares during the period. Finally, Quarry LP bought a new position in Equitable in the fourth quarter valued at about $76,000. Institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group increased their target price on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays started coverage on Equitable in a research report on Wednesday, September 4th. They set an “overweight” rating and a $59.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Citigroup lifted their price objective on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.64.

Equitable Stock Down 0.2 %

NYSE EQH opened at $42.21 on Wednesday. The stock’s 50 day moving average is $40.87 and its 200 day moving average is $39.68. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. Equitable Holdings, Inc. has a 12 month low of $24.65 and a 12 month high of $44.50. The stock has a market cap of $13.73 billion, a PE ratio of 13.07 and a beta of 1.42.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The company’s revenue was up 47.7% compared to the same quarter last year. Research analysts predict that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, August 6th. Equitable’s payout ratio is 29.72%.

Insiders Place Their Bets

In other Equitable news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Thursday, August 29th. The stock was 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 SEC, which is accessible through this hyperlink. In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 owns 678,555 shares of the company’s stock, valued at approximately $28,635,021. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total value of $148,470.00. Following the transaction, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. The disclosure for this sale can be found here. Insiders have sold a total of 73,469 shares of company stock valued at $3,067,434 in the last quarter. 1.10% of the stock is currently owned by insiders.

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.