Ashton Thomas Private Wealth LLC Cuts Stake in Equitable Holdings, Inc. (NYSE:EQH)

Ashton Thomas Private Wealth LLC trimmed its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,702 shares of the company's stock after selling 10,370 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Equitable were worth $2,425,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 246 shares during the period. New Covenant Trust Company N.A. acquired a new position in Equitable in the 1st quarter worth about $28,000. LRI Investments LLC acquired a new position in shares of Equitable in the 1st quarter valued at about $45,000. Carolina Wealth Advisors LLC acquired a new position in Equitable during the 3rd quarter worth approximately $48,000. Finally, UMB Bank n.a. grew its holdings in Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company's stock worth $65,000 after buying an additional 718 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Equitable Stock Performance

Shares of EQH traded down $0.63 during midday trading on Wednesday, reaching $47.92. The stock had a trading volume of 2,193,887 shares, compared to its average volume of 2,499,409. The firm has a 50 day simple moving average of $43.67 and a 200-day simple moving average of $41.70. The firm has a market cap of $15.02 billion, a PE ratio of -43.96 and a beta of 1.40. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a one year low of $26.96 and a one year high of $50.51.

Equitable (NYSE:EQH - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting analysts' consensus estimates of $1.53. The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. As a group, sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.03 EPS for the current year.

Analysts Set New Price Targets

EQH has been the topic of a number of recent research reports. Truist Financial raised their price objective on Equitable from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Morgan Stanley cut their price target on Equitable from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, August 19th. Wells Fargo & Company boosted their price objective on Equitable from $43.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Citigroup upped their target price on Equitable from $41.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Finally, Barclays increased their price target on shares of Equitable from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Equitable presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.70.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the completion of the sale, the chief executive officer now owns 678,555 shares in the company, valued at approximately $28,635,021. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equitable news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now owns 678,555 shares in the company, valued at $28,635,021. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company's stock, valued at $819,596.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,166 shares of company stock worth $4,286,705. 1.10% of the stock is owned by company insiders.

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.