DNB Asset Management AS Has $21.15 Million Stock Position in Equitable Holdings, Inc. $EQH

DNB Asset Management AS reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 23.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 443,926 shares of the company’s stock after selling 135,421 shares during the period. DNB Asset Management AS’s holdings in Equitable were worth $21,153,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EQH. Geneos Wealth Management Inc. grew its holdings in shares of Equitable by 92.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after purchasing an additional 424 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Equitable during the 2nd quarter worth $1,712,000. Gamco Investors INC. ET AL acquired a new stake in shares of Equitable during the 2nd quarter worth $1,133,000. Qube Research & Technologies Ltd grew its holdings in shares of Equitable by 1,126.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 291,126 shares of the company’s stock worth $16,332,000 after purchasing an additional 267,389 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Equitable by 45.8% during the 2nd quarter. Sei Investments Co. now owns 626,017 shares of the company’s stock worth $35,120,000 after purchasing an additional 196,729 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nick Lane sold 10,000 shares of Equitable stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.44, for a total transaction of $404,400.00. Following the sale, the insider directly owned 124,218 shares of the company’s stock, valued at approximately $5,023,375.92. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $41.63, for a total value of $1,652,711.00. Following the sale, the chief executive officer directly owned 789,183 shares in the company, valued at $32,853,688.29. The trade was a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 128,116 shares of company stock valued at $5,205,010. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EQH shares. Barclays lifted their target price on Equitable from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research cut Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Raymond James Financial set a $58.00 target price on Equitable and gave the company a “strong-buy” rating in a research report on Thursday, April 16th. Finally, UBS Group decreased their target price on Equitable from $66.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.18.

Equitable Stock Performance

Equitable stock opened at $42.56 on Friday. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $56.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 8.75. The business’s 50-day moving average price is $39.64 and its two-hundred day moving average price is $43.77. The stock has a market cap of $11.98 billion, a PE ratio of -14.98, a P/E/G ratio of 0.46 and a beta of 1.13.

Equitable (NYSE:EQH) last released its earnings results on Monday, May 4th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. Equitable had a positive return on equity of 232.29% and a negative net margin of 7.26%.The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business posted $1.35 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, analysts expect that Equitable Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

Equitable announced that its Board of Directors has approved a share buyback plan on Wednesday, February 11th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.