JPMorgan Chase & Co. Purchases 153,457 Shares of Equitable Holdings, Inc. (NYSE:EQH)

JPMorgan Chase & Co. lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 20.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 908,653 shares of the company's stock after buying an additional 153,457 shares during the quarter. JPMorgan Chase & Co. owned about 0.29% of Equitable worth $38,191,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of Equitable by 2,388.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 132,971 shares of the company's stock worth $5,433,000 after purchasing an additional 127,627 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Equitable during the 2nd quarter worth about $109,000. Natixis Advisors LLC bought a new stake in shares of Equitable in the 2nd quarter valued at about $772,000. National Bank of Canada FI raised its position in shares of Equitable by 1.3% in the 2nd quarter. National Bank of Canada FI now owns 42,993 shares of the company's stock valued at $1,750,000 after acquiring an additional 563 shares during the period. Finally, Candriam S.C.A. boosted its stake in Equitable by 42.8% during the 2nd quarter. Candriam S.C.A. now owns 26,770 shares of the company's stock worth $1,094,000 after acquiring an additional 8,027 shares during the last quarter. Institutional investors own 92.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQH. Keefe, Bruyette & Woods raised shares of Equitable from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $54.00 to $58.00 in a report on Monday, December 9th. Barclays boosted their target price on Equitable from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Wells Fargo & Company lifted 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.20.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the transaction, the chief executive officer now owns 658,555 shares of the company's stock, valued at $29,239,842. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nick Lane sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the sale, the insider now directly owns 141,629 shares of the company's stock, valued at approximately $6,492,273.36. The trade was a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,032 shares of company stock worth $6,031,759. Insiders own 1.10% of the company's stock.

Equitable Stock Up 1.7 %

Equitable stock traded up $0.81 during mid-day trading on Monday, reaching $49.36. The company's stock had a trading volume of 1,943,019 shares, compared to its average volume of 2,273,440. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. Equitable Holdings, Inc. has a 12 month low of $31.76 and a 12 month high of $50.51. The business's 50 day simple moving average is $47.16 and its 200 day simple moving average is $43.59. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of -45.28 and a beta of 1.39.

Equitable (NYSE:EQH - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.53. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, research analysts anticipate that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.94%. Equitable's dividend payout ratio is presently -88.07%.

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.