Brooklyn Investment Group Takes $124,000 Position in Equitable Holdings, Inc. (NYSE:EQH)

Brooklyn Investment Group bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,953 shares of the company’s stock, valued at approximately $124,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EQH. MQS Management LLC acquired a new stake in Equitable during the 3rd quarter worth about $587,000. Friedenthal Financial acquired a new stake in Equitable in the second quarter worth $831,000. Maverick Capital Ltd. increased its stake in Equitable by 230.0% in the second quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock valued at $1,505,000 after purchasing an additional 25,678 shares in the last quarter. TCW Group Inc. increased its stake in Equitable by 94.6% in the second quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock valued at $5,484,000 after purchasing an additional 65,232 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Equitable by 55.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock valued at $2,564,000 after purchasing an additional 22,346 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the completion of the transaction, the chief executive officer now owns 648,555 shares in the company, valued at $30,760,963.65. This trade represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $148,470.00. Following the completion of the sale, the chief accounting officer now directly owns 19,321 shares in the company, valued at approximately $819,596.82. This trade represents a 15.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,166 shares of company stock valued at $4,443,605. 1.10% of the stock is owned by company insiders.

Equitable Price Performance

Equitable stock opened at $48.06 on Thursday. The stock has a market cap of $15.06 billion, a P/E ratio of -44.09 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. The company’s 50 day moving average price is $45.02 and its two-hundred day moving average price is $42.28. Equitable Holdings, Inc. has a 52 week low of $29.29 and a 52 week high of $50.51.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting analysts’ consensus estimates of $1.53. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. Equitable’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. On average, equities analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. Equitable’s payout ratio is currently -88.07%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQH. 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. Truist Financial boosted their target price on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays upped their target price on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, 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 note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

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.