Point72 Hong Kong Ltd Invests $3.04 Million in Equitable Holdings, Inc. (NYSE:EQH)

Point72 Hong Kong Ltd acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 72,345 shares of the company's stock, valued at approximately $3,041,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Covestor Ltd raised its position in shares of Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 246 shares during the period. &PARTNERS grew its stake in Equitable by 0.7% in the second quarter. &PARTNERS now owns 34,328 shares of the company's stock valued at $1,403,000 after purchasing an additional 254 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Equitable by 5.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company's stock valued at $288,000 after purchasing an additional 332 shares in the last quarter. Capital Insight Partners LLC boosted its stake in shares of Equitable by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 17,612 shares of the company's stock worth $720,000 after acquiring an additional 440 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Equitable by 3.6% during the 3rd quarter. Creative Planning now owns 13,541 shares of the company's stock worth $569,000 after acquiring an additional 476 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company's stock.

Equitable Price Performance

Shares of EQH traded down $0.95 during mid-day trading on Monday, reaching $47.28. The company had a trading volume of 716,061 shares, compared to its average volume of 2,491,732. Equitable Holdings, Inc. has a twelve month low of $31.31 and a twelve month high of $50.51. 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 company's 50-day moving average is $45.39 and its 200-day moving average is $42.44. The company has a market capitalization of $14.81 billion, a P/E ratio of -44.25 and a beta of 1.40.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting analysts' consensus estimates of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The firm had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the firm posted $1.15 EPS. The business's revenue was down 15.1% on a year-over-year basis. On average, equities analysts anticipate that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.03%. The ex-dividend date is Tuesday, November 26th. Equitable's payout ratio is presently -88.07%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company increased 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. Morgan Stanley decreased their target price on Equitable from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, August 19th. Finally, Barclays increased their target price on Equitable from $59.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Equitable presently has an average rating of "Moderate Buy" and a consensus price target of $48.70.

Insider Buying and Selling

In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the sale, the chief accounting officer now owns 19,321 shares of the company's stock, valued at $819,596.82. This trade represents a 15.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the sale, the chief executive officer now directly owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 4.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,166 shares of company stock valued at $4,443,605. 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.