Citigroup Inc. Lowers Stake in Equitable Holdings, Inc. (NYSE:EQH)

Citigroup Inc. decreased its position in Equitable Holdings, Inc. (NYSE:EQH) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 266,916 shares of the company’s stock after selling 4,695 shares during the quarter. Citigroup Inc. owned 0.09% of Equitable worth $11,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its stake in Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 246 shares in the last quarter. LRI Investments LLC lifted its position in shares of Equitable by 892.9% during the second quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock worth $45,000 after purchasing an additional 1,000 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in shares of Equitable in the third quarter valued at approximately $48,000. UMB Bank n.a. grew its holdings in shares of 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Equitable by 141.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,605 shares of the company’s stock worth $96,000 after buying an additional 1,526 shares in the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Barclays upped their price target on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Truist Financial lifted 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. Finally, Wells Fargo & Company upped their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

Equitable Price Performance

Shares of NYSE:EQH opened at $48.08 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. Equitable Holdings, Inc. has a 12 month low of $29.29 and a 12 month high of $50.51. The firm has a market capitalization of $15.07 billion, a P/E ratio of -44.11 and a beta of 1.40. The company’s fifty day moving average price is $45.15 and its 200 day moving average price is $42.32.

Equitable (NYSE:EQH) last posted its earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The business had revenue of $3.08 billion during 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%. The business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS. As a group, sell-side analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. Equitable’s payout ratio is -88.07%.

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the completion of the sale, the chief executive officer now owns 668,555 shares in the company, valued at $27,263,672.90. This represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction on 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 owns 19,321 shares in the company, valued at approximately $819,596.82. This trade represents a 15.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,166 shares of company stock worth $4,443,605 in the last 90 days. 1.10% of the stock is owned by insiders.

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.