Point72 Asset Management L.P. Has $11.74 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Point72 Asset Management L.P. lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,310 shares of the company's stock after purchasing an additional 37,819 shares during the quarter. Point72 Asset Management L.P. owned 0.09% of Equitable worth $11,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in Equitable by 24,432.7% in the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company's stock worth $129,444,000 after purchasing an additional 3,155,487 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Equitable during the second quarter worth $110,176,000. Samlyn Capital LLC bought a new stake in shares of Equitable in the second quarter worth about $63,334,000. Principal Financial Group Inc. increased its position in Equitable by 57.8% in the second quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company's stock worth $80,470,000 after purchasing an additional 721,028 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Equitable by 1,095.9% during the second quarter. Federated Hermes Inc. now owns 600,662 shares of the company's stock valued at $24,543,000 after purchasing an additional 550,436 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQH has been the subject of several analyst reports. Barclays raised their target price on shares of Equitable from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on Equitable from $43.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their price target on Equitable from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.70.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the sale, the chief operating officer now owns 105,246 shares of the company's stock, valued at $5,002,342.38. This represents a 5.96 % 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. Also, CAO William James Iv Eckert sold 3,500 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were 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 directly owns 19,321 shares of the company's stock, valued at $819,596.82. The trade was a 15.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,166 shares of company stock worth $4,443,605 in the last ninety days. 1.10% of the stock is owned by insiders.

Equitable Stock Down 1.0 %

Equitable stock traded down $0.48 during midday trading on Friday, reaching $47.25. The company's stock had a trading volume of 1,504,163 shares, compared to its average volume of 2,296,796. Equitable Holdings, Inc. has a 52-week low of $31.62 and a 52-week high of $50.51. The stock has a market capitalization of $14.81 billion, a P/E ratio of -43.35 and a beta of 1.38. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The stock's 50-day simple moving average is $45.93 and its 200-day simple moving average is $42.69.

Equitable (NYSE:EQH - Get Free Report) last issued its quarterly 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 during 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 firm's revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. On average, sell-side analysts expect that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. Equitable's payout ratio is currently -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.