Principal Financial Group Inc. Has $11.69 Million Position in Equitable Holdings, Inc. (NYSE:EQH)

Principal Financial Group Inc. decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 85.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,002 shares of the company’s stock after selling 1,691,386 shares during the period. Principal Financial Group Inc. owned approximately 0.09% of Equitable worth $11,688,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EQH. US Bancorp DE lifted its position in Equitable by 4.4% in the 1st quarter. US Bancorp DE now owns 10,068 shares of the company’s stock valued at $383,000 after acquiring an additional 423 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Equitable by 2.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 455,922 shares of the company’s stock valued at $17,172,000 after purchasing an additional 9,361 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Equitable by 3.9% during the first quarter. Acadian Asset Management LLC now owns 12,915 shares of the company’s stock valued at $490,000 after buying an additional 488 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in Equitable by 84.6% during the first quarter. UniSuper Management Pty Ltd now owns 4,800 shares of the company’s stock worth $182,000 after buying an additional 2,200 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Equitable in the 1st quarter valued at $7,602,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Down 0.4 %

EQH stock opened at $47.44 on Monday. The stock has a 50-day simple moving average of $43.97 and a two-hundred day simple moving average of $41.87. Equitable Holdings, Inc. has a twelve month low of $27.74 and a twelve month high of $50.51. The firm has a market capitalization of $14.86 billion, a PE ratio of -43.52 and a beta of 1.40. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting 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 company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. Equitable’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, equities analysts predict that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 3,500 shares of the company’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. This represents a 15.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The trade was a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,166 shares of company stock worth $4,286,705. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley decreased their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Citigroup raised their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays boosted their target price on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price target 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Equitable has an average rating of “Moderate Buy” and an average price target of $48.70.

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.