Bank of America Corp DE Buys 260,826 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Bank of America Corp DE lifted its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 69.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 634,049 shares of the company's stock after buying an additional 260,826 shares during the quarter. Bank of America Corp DE owned about 0.20% of Equitable worth $29,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Equitable by 111.2% during the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after purchasing an additional 357 shares during the period. Assetmark Inc. raised its stake in Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company's stock valued at $38,000 after purchasing an additional 199 shares during the period. Mizuho Bank Ltd. raised its stake in Equitable by 61.4% during the 4th quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company's stock valued at $53,000 after purchasing an additional 430 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Equitable by 298.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company's stock valued at $80,000 after purchasing an additional 1,265 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Equitable by 31.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company's stock valued at $80,000 after purchasing an additional 409 shares during the period. Institutional investors own 92.70% of the company's stock.

Insider Transactions at Equitable

In related news, insider Nick Lane sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total transaction of $264,550.00. Following the completion of the sale, the insider now directly owns 139,073 shares of the company's stock, valued at approximately $7,358,352.43. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.56, for a total value of $1,426,800.00. Following the sale, the chief executive officer now directly owns 743,206 shares of the company's stock, valued at $35,346,877.36. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,998 shares of company stock worth $6,345,563. 1.10% of the stock is currently owned by company insiders.

Equitable Price Performance

Shares of Equitable stock opened at $53.56 on Friday. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 14.02 and a beta of 1.15. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. The stock has a 50 day moving average price of $50.17 and a 200-day moving average price of $49.96. Equitable Holdings, Inc. has a one year low of $36.46 and a one year high of $56.00.

Equitable (NYSE:EQH - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). The company had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.05 billion. Equitable had a return on equity of 85.70% and a net margin of 10.51%. Equitable's revenue for the quarter was up 105.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 EPS. Equities analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group upgraded Equitable from a "neutral" rating to a "buy" rating and raised their price target for the company from $49.00 to $77.00 in a report on Wednesday, April 2nd. Morgan Stanley cut their price target on Equitable from $68.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods raised their price target on Equitable from $61.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets raised their price target on Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Finally, Evercore ISI cut their price target on Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.08.

Equitable Profile

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.

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