Equitable Holdings, Inc. (NYSE:EQH) Short Interest Up 9.7% in November
Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,840,000 shares, an increase of 9.7% from the October 31st total of 3,500,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 2,200,000 shares, the days-to-cover ratio is presently 1.7 days.
Hedge Funds Weigh In On Equitable
Several hedge funds and other institutional investors have recently made changes to their positions in EQH. JPMorgan Chase & Co. lifted its position in shares of Equitable by 109.8% in the first quarter. JPMorgan Chase & Co. now owns 227,129 shares of the company’s stock valued at $7,021,000 after acquiring an additional 118,874 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Equitable by 35.1% in the first quarter. Private Advisor Group LLC now owns 9,261 shares of the company’s stock valued at $287,000 after acquiring an additional 2,405 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Equitable in the first quarter valued at approximately $216,000. Rhumbline Advisers lifted its position in shares of Equitable by 2.6% in the first quarter. Rhumbline Advisers now owns 309,504 shares of the company’s stock valued at $9,567,000 after acquiring an additional 7,745 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Equitable by 6.2% in the first quarter. Yousif Capital Management LLC now owns 10,896 shares of the company’s stock valued at $337,000 after acquiring an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
Wall Street Analyst Weigh In
EQH has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Equitable from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Jefferies Financial Group boosted their price objective on Equitable from $29.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, September 14th. Deutsche Bank Aktiengesellschaft started coverage on Equitable in a report on Wednesday, October 4th. They issued a “hold” rating and a $31.00 target price for the company. Wells Fargo & Company lowered their target price on Equitable from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Finally, Morgan Stanley lowered their target price on Equitable from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.57.
Get Our Latest Stock Analysis on EQH
Equitable Trading Up 1.9 %
Shares of EQH stock traded up $0.57 during mid-day trading on Friday, reaching $31.26. The stock had a trading volume of 3,318,378 shares, compared to its average volume of 2,359,976. The business’s fifty day moving average is $27.70 and its 200-day moving average is $27.48. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 9.42 and a beta of 1.43. Equitable has a 1-year low of $21.89 and a 1-year high of $33.24.
Equitable (NYSE:EQH – Get Free Report) last posted its earnings results on Tuesday, October 31st. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.17). The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. On average, analysts forecast that Equitable will post 4.64 earnings per share for the current year.
Equitable Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 27th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.88 dividend on an annualized basis and a yield of 2.82%. Equitable’s dividend payout ratio is currently 26.51%.
About Equitable (Get Free Report)
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Equitable, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Equitable wasn’t on the list.
While Equitable currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Original: MarketBeat News Feed: Equitable Holdings, Inc. (NYSE:EQH) Short Interest Up 9.7% in November