Concentric Capital Strategies LP acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,202 shares of the company's stock, valued at approximately $1,849,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company's stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. Bessemer Group Inc. increased its stake in Equitable by 111.2% during the fourth 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 last quarter. Assetmark Inc. boosted its position 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. increased its stake in shares of Equitable by 61.4% in the fourth 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. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Equitable by 298.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company's stock valued at $80,000 after acquiring an additional 1,265 shares during the period. Hedge funds and other institutional investors own 92.70% of the company's stock.
Analyst Ratings Changes
EQH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Evercore ISI lowered their price target on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. UBS Group upgraded Equitable from a "neutral" rating to a "buy" rating and boosted their price target for the company from $49.00 to $77.00 in a research note on Wednesday, April 2nd. Morgan Stanley decreased their price target on Equitable from $68.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company raised their target price on Equitable from $59.00 to $61.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Equitable currently has a consensus rating of "Moderate Buy" and an average target price of $61.08.
View Our Latest Research Report on Equitable
Insider Activity at Equitable
In related news, COO Jeffrey J. Hurd sold 6,666 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total transaction of $369,163.08. Following the transaction, the chief operating officer now directly owns 104,298 shares of the company's stock, valued at approximately $5,776,023.24. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nick Lane sold 5,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.12, for a total transaction of $255,600.00. Following the completion of the sale, the insider now directly owns 139,073 shares of the company's stock, valued at $7,109,411.76. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,332 shares of company stock worth $4,141,315. Company insiders own 1.10% of the company's stock.
Equitable Stock Up 5.0%
EQH stock traded up $2.56 during midday trading on Monday, hitting $53.90. The company's stock had a trading volume of 1,392,210 shares, compared to its average volume of 2,989,457. The company's fifty day moving average price is $49.85 and its 200 day moving average price is $49.73. Equitable Holdings, Inc. has a twelve month low of $36.46 and a twelve month high of $56.00. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12. The stock has a market capitalization of $16.38 billion, a P/E ratio of 14.11 and a beta of 1.15.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). Equitable had a net margin of 10.51% and a return on equity of 85.70%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business earned $1.43 EPS. The business's revenue was up 105.2% on a year-over-year basis. As a group, equities research analysts predict that Equitable Holdings, Inc. will post 7.33 EPS for the current year.
Equitable Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.78%. Equitable's dividend payout ratio is currently 26.09%.
About Equitable
(
Free Report)
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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