Equitable (NYSE:EQH) Sets New 12-Month Low – Should You Sell?
by Tristan Rich · The Markets DailyEquitable Holdings, Inc. (NYSE:EQH – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.61 and last traded at $36.62, with a volume of 886682 shares trading hands. The stock had previously closed at $37.84.
Analyst Ratings Changes
EQH has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. Raymond James Financial set a $60.00 price objective on shares of Equitable in a research report on Monday, January 5th. Zacks Research cut shares of Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Wall Street Zen raised shares of Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Barclays cut their price target on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.
View Our Latest Analysis on EQH
Equitable Trading Up 0.2%
The company has a debt-to-equity ratio of 16.42, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a fifty day moving average price of $43.07 and a 200 day moving average price of $46.78. The company has a market cap of $10.46 billion, a price-to-earnings ratio of -7.74, a P/E/G ratio of 0.33 and a beta of 1.12.
Equitable Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, March 4th. Equitable’s dividend payout ratio (DPR) is -22.41%.
Equitable declared that its board has approved a share repurchase program on Wednesday, February 11th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Insider Buying and Selling at Equitable
In other news, COO Jeffrey J. Hurd sold 6,790 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the completion of the sale, the chief operating officer directly owned 55,023 shares of the company’s stock, valued at $2,621,845.95. This trade represents a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nick Lane sold 30,000 shares of Equitable stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $1,429,500.00. Following the transaction, the insider owned 99,958 shares of the company’s stock, valued at $4,762,998.70. This represents a 23.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 76,490 shares of company stock worth $3,587,184 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Equitable
Several institutional investors and hedge funds have recently modified their holdings of EQH. Johnson Financial Group Inc. bought a new stake in shares of Equitable during the 3rd quarter worth about $26,000. Covestor Ltd raised its holdings in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after acquiring an additional 404 shares during the period. Root Financial Partners LLC acquired a new stake in Equitable during the third quarter worth approximately $36,000. Hilltop National Bank bought a new stake in shares of Equitable during the third quarter worth approximately $37,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Equitable during the third quarter worth approximately $38,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.
About Equitable
Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.
The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.