Sessa Capital IM L.P. Has $169.59 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Sessa Capital IM L.P. reduced its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 19.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,035,058 shares of the company’s stock after selling 960,661 shares during the period. Equitable comprises 6.2% of Sessa Capital IM L.P.’s investment portfolio, making the stock its 5th largest holding. Sessa Capital IM L.P.’s holdings in Equitable were worth $169,593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EQH. Dimensional Fund Advisors LP lifted its holdings in Equitable by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock worth $166,855,000 after buying an additional 539,904 shares during the period. Acadian Asset Management LLC raised its position in shares of Equitable by 24,432.7% during the second quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after acquiring an additional 3,155,487 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Equitable in the second quarter worth approximately $110,176,000. Charles Schwab Investment Management Inc. boosted its holdings in Equitable by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,165,115 shares of the company’s stock valued at $91,000,000 after acquiring an additional 68,900 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Equitable by 57.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock valued at $80,470,000 after purchasing an additional 721,028 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Trading Up 0.1 %

Shares of Equitable stock opened at $46.80 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. Equitable Holdings, Inc. has a 52 week low of $28.19 and a 52 week high of $50.51. The stock has a 50 day moving average price of $44.57 and a two-hundred day moving average price of $42.06. The stock has a market capitalization of $14.66 billion, a PE ratio of -42.94 and a beta of 1.40.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business 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 business posted $1.15 EPS. Equitable’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, equities analysts anticipate that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a $0.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 2.05%. Equitable’s payout ratio is -88.07%.

Analysts Set New Price Targets

EQH has been the topic of a number of analyst reports. Barclays upped their price objective on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley dropped their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Finally, Truist Financial upped their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.70.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the company’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 represents a 5.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $47.43, for a total transaction 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. This trade represents a 4.42 % 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 worth $5,709,605. Insiders own 1.10% of the company’s stock.

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.