Ontario Teachers Pension Plan Board Has $1.06 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Ontario Teachers Pension Plan Board lowered its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 10.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,211 shares of the company’s stock after selling 2,856 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Equitable were worth $1,060,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MQS Management LLC bought a new position in Equitable in the third quarter worth approximately $587,000. Friedenthal Financial bought a new position in shares of Equitable in the second quarter valued at approximately $831,000. Maverick Capital Ltd. lifted its holdings in shares of Equitable by 230.0% in the second quarter. Maverick Capital Ltd. now owns 36,840 shares of the company’s stock valued at $1,505,000 after purchasing an additional 25,678 shares in the last quarter. TCW Group Inc. lifted its holdings in Equitable by 94.6% during the second quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock worth $5,484,000 after acquiring an additional 65,232 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Equitable by 55.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,759 shares of the company’s stock worth $2,564,000 after acquiring an additional 22,346 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity

In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $47.43, for a total value of $1,422,900.00. Following the completion of the sale, the chief executive officer now owns 648,555 shares of the company’s stock, valued at approximately $30,760,963.65. The trade was a 4.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business’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 completion of the sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at approximately $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,166 shares of company stock valued at $5,709,605. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQH. Truist Financial lifted their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. 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 report on Thursday, October 10th. Morgan Stanley reduced their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Finally, Barclays lifted their price target on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.70.

Equitable Trading Up 0.3 %

Shares of EQH stock opened at $46.72 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of $44.42 and a two-hundred day moving average price of $42.02. Equitable Holdings, Inc. has a 12-month low of $28.18 and a 12-month high of $50.51. The firm has a market cap of $14.64 billion, a P/E ratio of -42.86 and a beta of 1.40.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $3.78 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue was down 15.1% compared to the same quarter last year. Equities analysts anticipate that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, November 26th. Equitable’s dividend payout ratio (DPR) is presently -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.