Equitable (NYSE:EQH) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Equitable (NYSE:EQH) released its earnings results on Tuesday. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.11), Briefing.com reports. Equitable had a net margin of 3.51% and a return on equity of 81.58%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted $1.58 earnings per share. Equitable’s quarterly revenue was down 52.8% compared to the same quarter last year.

Equitable Trading Down 5.7%

EQH stock opened at $46.09 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable has a 12-month low of $41.39 and a 12-month high of $56.61. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 37.20 and a beta of 1.17. The business’s 50-day moving average is $51.08 and its 200 day moving average is $52.09.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays reissued an “overweight” rating and set a $63.00 price objective on shares of Equitable in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Equitable from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Wolfe Research upgraded Equitable to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen cut Equitable from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Evercore ISI upped their price objective on Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.45.

Insider Buying and Selling

In other Equitable news, CFO Robin M. Raju sold 36,888 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $54.00, for a total value of $1,991,952.00. Following the sale, the chief financial officer owned 140,258 shares of the company’s stock, valued at $7,573,932. The trade was a 20.82% 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, COO Jeffrey J. Hurd sold 6,790 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $48.99, for a total value of $332,642.10. Following the completion of the sale, the chief operating officer directly owned 75,098 shares in the company, valued at approximately $3,679,051.02. The trade was a 8.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 178,958 shares of company stock valued at $9,362,262 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equitable

Several hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted 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 valued at $46,000 after acquiring an additional 424 shares in the last quarter. Osaic Holdings Inc. increased its stake in Equitable by 35.0% during the 2nd quarter. Osaic Holdings Inc. now owns 7,236 shares of the company’s stock worth $406,000 after buying an additional 1,877 shares during the period. Snowden Capital Advisors LLC increased its position in shares of Equitable by 128.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 9,990 shares of the company’s stock worth $560,000 after purchasing an additional 5,619 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Equitable by 22.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 19,777 shares of the company’s stock worth $1,109,000 after purchasing an additional 3,685 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Equitable in the 2nd quarter worth about $1,133,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

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.