Thrivent Financial for Lutherans Reduces Position in Equitable Holdings, Inc. (NYSE:EQH)

Thrivent Financial for Lutherans decreased its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,112 shares of the company's stock after selling 28,165 shares during the period. Thrivent Financial for Lutherans owned about 0.10% of Equitable worth $13,118,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd lifted its stake in Equitable by 61.5% in 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 last quarter. New Covenant Trust Company N.A. purchased a new stake in Equitable during the 1st quarter valued at about $28,000. LRI Investments LLC bought a new position in Equitable during the 1st quarter worth approximately $45,000. Carolina Wealth Advisors LLC purchased a new position in Equitable in the 3rd quarter worth approximately $48,000. Finally, UMB Bank n.a. lifted its position in Equitable by 86.3% in the third quarter. UMB Bank n.a. now owns 1,550 shares of the company's stock valued at $65,000 after purchasing an additional 718 shares during the last quarter. Institutional investors own 92.70% of the company's stock.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the sale, the chief operating officer now directly owns 105,246 shares in the company, valued at approximately $5,002,342.38. The trade was a 5.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the company's stock in a transaction on Thursday, September 19th. The shares were 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 approximately $819,596.82. This trade represents a 15.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,166 shares of company stock worth $5,709,605 in the last three months. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQH. Wells Fargo & Company raised their target price on Equitable from $43.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Truist Financial upped their target price on Equitable from $44.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Barclays lifted their price target on shares of Equitable from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley decreased their price objective on shares of Equitable from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, August 19th. Three investment 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 has an average rating of "Moderate Buy" and an average price target of $48.70.

Equitable Stock Up 1.8 %

Shares of NYSE EQH traded up $0.82 on Friday, reaching $47.62. 2,186,004 shares of the company's stock traded hands, compared to its average volume of 2,496,319. The business's 50 day simple moving average is $44.57 and its two-hundred day simple moving average is $42.06. The company has a market cap of $14.92 billion, a price-to-earnings ratio of -43.69 and a beta of 1.40. Equitable Holdings, Inc. has a 12 month low of $28.86 and a 12 month high of $50.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63.

Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $3.78 billion. During the same period last year, the company earned $1.15 earnings per share. The company's revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts forecast that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable's dividend payout ratio (DPR) is currently -88.07%.

Equitable 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.