Equitable Holdings, Inc. (NYSE:EQH) Short Interest Up 34.4% in November
Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 5,160,000 shares, a growth of 34.4% from the November 15th total of 3,840,000 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 2,580,000 shares, the short-interest ratio is presently 2.0 days.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of Equitable from an “outperform” rating to a “market perform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, December 5th. Jefferies Financial Group upgraded Equitable from a “hold” rating to a “buy” rating and upped their target price for the stock from $28.00 to $37.00 in a research note on Monday, December 11th. Wells Fargo & Company cut their target price on Equitable from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. JPMorgan Chase & Co. dropped their price objective on Equitable from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, October 6th. Finally, Morgan Stanley dropped their price objective on Equitable from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.25.
Check Out Our Latest Analysis on Equitable
Equitable Stock Down 1.2 %
Equitable stock traded down $0.42 during trading hours on Friday, hitting $34.04. The stock had a trading volume of 51,597,099 shares, compared to its average volume of 3,060,554. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 10.25 and a beta of 1.43. Equitable has a one year low of $21.89 and a one year high of $34.80. The business’s 50 day simple moving average is $28.72 and its 200-day simple moving average is $28.02.
Equitable (NYSE:EQH – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.17). The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Equitable’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 EPS. Research analysts anticipate that Equitable will post 4.56 EPS for the current fiscal year.
Equitable Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 27th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, November 24th. Equitable’s dividend payout ratio is currently 26.51%.
Insider Buying and Selling at Equitable
In related news, CAO William James Iv Eckert sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $34.59, for a total value of $242,130.00. Following the completion of the sale, the chief accounting officer now directly owns 20,318 shares in the company, valued at $702,799.62. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.02% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Equitable by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 40,143,567 shares of the company’s stock worth $1,240,838,000 after purchasing an additional 854,689 shares during the last quarter. BlackRock Inc. raised its stake in Equitable by 3.8% during the first quarter. BlackRock Inc. now owns 33,444,638 shares of the company’s stock worth $849,159,000 after buying an additional 1,223,193 shares during the last quarter. Pzena Investment Management LLC raised its stake in Equitable by 10.0% during the third quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company’s stock worth $763,764,000 after buying an additional 2,450,484 shares during the last quarter. Norges Bank bought a new position in shares of Equitable in the 4th quarter worth about $553,559,000. Finally, State Street Corp raised its position in shares of Equitable by 3.5% in the 1st quarter. State Street Corp now owns 9,933,563 shares of the company’s stock worth $252,213,000 after acquiring an additional 336,694 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
Equitable Company Profile (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
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Original: MarketBeat News Feed: Equitable Holdings, Inc. (NYSE:EQH) Short Interest Up 34.4% in November