Jupiter Topco LLC Takes $7.14 Million Position in Equitable Holdings, Inc. $EQH

Jupiter Topco LLC acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 162,826 shares of the company’s stock, valued at approximately $7,145,000.

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of Equitable in the 3rd quarter valued at $26,000. Covestor Ltd raised its holdings in Equitable by 124.7% during the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock worth $35,000 after buying an additional 404 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Equitable during the third quarter valued at about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Equitable during the second quarter valued at about $33,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 424 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Trading Down 0.1%

NYSE:EQH opened at $50.15 on Monday. The stock has a market cap of $13.69 billion, a PE ratio of -15.15, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. Equitable Holdings, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $55.15. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. The stock’s 50-day moving average is $48.30 and its two-hundred day moving average is $43.57.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The firm’s revenue was down 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, equities research analysts forecast that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. Equitable’s dividend payout ratio is presently -36.25%.

Insider Buying and Selling

In other Equitable news, Director Craig C. Mackay sold 2,200 shares of Equitable stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $51.37, for a total transaction of $113,014.00. Following the completion of the sale, the director owned 18,999 shares of the company’s stock, valued at $975,978.63. This trade represents a 10.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William James Iv Eckert sold 947 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.88, for a total transaction of $50,077.36. Following the transaction, the chief accounting officer owned 8,419 shares in the company, valued at approximately $445,196.72. This represents a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 114,541 shares of company stock worth $5,357,784. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

EQH has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Jefferies Financial Group raised their price objective on shares of Equitable from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings cut shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Equitable from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Evercore restated an “outperform” rating and issued a $66.00 target price on shares of Equitable in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell 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 $61.75.

About Equitable

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.