Thrivent Financial for Lutherans Sells 106,917 Shares of Equitable Holdings, Inc. $EQH

Thrivent Financial for Lutherans cut its stake in Equitable Holdings, Inc. (NYSE:EQH) by 44.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,371 shares of the company’s stock after selling 106,917 shares during the period. Thrivent Financial for Lutherans’ holdings in Equitable were worth $7,594,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. WPG Advisers LLC acquired a new position in Equitable during the first quarter worth $27,000. True Wealth Design LLC grew its holdings in shares of Equitable by 592.6% in the 2nd quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 480 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Equitable during the 1st quarter worth about $33,000. Geneos Wealth Management Inc. grew its stake in Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 424 shares during the last quarter. Finally, MAI Capital Management boosted its holdings in shares of Equitable by 64.0% in the 2nd quarter. MAI Capital Management now owns 938 shares of the company’s stock worth $53,000 after acquiring an additional 366 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity at Equitable

In other news, CAO William James Iv Eckert sold 4,300 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $47.27, for a total value of $203,261.00. Following the sale, the chief accounting officer directly owned 15,625 shares in the company, valued at $738,593.75. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $43.14, for a total value of $1,712,658.00. Following the completion of the sale, the chief executive officer owned 676,540 shares in the company, valued at $29,185,935.60. The trade was a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 140,958 shares of company stock worth $6,775,030 over the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQH. Morgan Stanley lowered their target price on Equitable from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen cut Equitable from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Barclays reissued an “overweight” rating and set a $63.00 price objective on shares of Equitable in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on shares of Equitable from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Equitable in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Equitable has an average rating of “Moderate Buy” and a consensus target price of $64.33.

Equitable Stock Performance

Shares of NYSE:EQH opened at $47.79 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $56.61. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of -17.32 and a beta of 1.12. The firm’s 50 day simple moving average is $46.82 and its 200 day simple moving average is $50.85.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The company’s revenue for the quarter was down 52.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 24th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.08 dividend on an annualized basis and a yield of 2.3%. Equitable’s payout ratio is presently -39.13%.

About Equitable

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.