Allspring Global Investments Holdings LLC Purchases 2,071,691 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Allspring Global Investments Holdings LLC increased its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 5,536.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,109,113 shares of the company's stock after acquiring an additional 2,071,691 shares during the period. Allspring Global Investments Holdings LLC owned about 0.69% of Equitable worth $110,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. bought a new position in Equitable in the first quarter worth approximately $26,000. Bessemer Group Inc. raised its stake in shares of 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 buying an additional 357 shares during the last quarter. Assetmark Inc. grew its holdings in Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after acquiring an additional 199 shares during the period. Mizuho Bank Ltd. increased its holdings in 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 buying an additional 430 shares in the last quarter. Finally, McIlrath & Eck LLC increased its position in shares of Equitable by 154.3% in the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock valued at $65,000 after buying an additional 841 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.91, for a total transaction of $352,698.06. Following the transaction, the chief operating officer directly owned 94,980 shares of the company's stock, valued at approximately $5,025,391.80. This trade represents a 6.56% 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, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the sale, the chief executive officer owned 724,367 shares of the company's stock, valued at approximately $38,521,837.06. This represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,332 shares of company stock worth $5,993,760 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Equitable Trading Down 0.0%

Shares of NYSE:EQH traded down $0.01 during midday trading on Wednesday, hitting $55.87. The company had a trading volume of 1,263,780 shares, compared to its average volume of 2,565,813. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.39. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 15.18 and a beta of 1.15. The firm has a fifty day simple moving average of $52.71 and a 200 day simple moving average of $51.36. Equitable Holdings, Inc. has a 12 month low of $36.46 and a 12 month high of $56.61.

Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.14). Equitable had a return on equity of 79.05% and a net margin of 8.50%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company earned $1.43 EPS. The firm's revenue was up 105.2% on a year-over-year basis. On average, analysts predict that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a $0.27 dividend. This is a positive change from Equitable's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 1.93%. Equitable's dividend payout ratio is currently 29.35%.

Analyst Upgrades and Downgrades

EQH has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Equitable from $59.00 to $61.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley upped their price target on Equitable from $58.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods upped their price objective on Equitable from $61.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Evercore ISI cut their price target on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group lowered their price objective on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Equitable currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.64.

Equitable Company 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.