Artemis Investment Management LLP Sells 198,301 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Artemis Investment Management LLP reduced its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 20.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 777,625 shares of the company's stock after selling 198,301 shares during the quarter. Artemis Investment Management LLP owned about 0.25% of Equitable worth $40,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Equitable during the 4th quarter worth $668,250,000. Wellington Management Group LLP increased its holdings in Equitable by 59.9% in the fourth quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company's stock valued at $415,899,000 after purchasing an additional 3,303,449 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in Equitable by 237.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company's stock valued at $82,955,000 after buying an additional 1,236,799 shares during the period. BNP Paribas Financial Markets bought a new position in Equitable during the fourth quarter worth about $53,927,000. Finally, Man Group plc increased its stake in shares of Equitable by 616.6% in the 4th quarter. Man Group plc now owns 1,245,568 shares of the company's stock valued at $58,753,000 after acquiring an additional 1,071,763 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Up 3.1%

Shares of Equitable stock opened at $56.08 on Friday. The firm has a market cap of $17.04 billion, a PE ratio of 15.24 and a beta of 1.15. The business's 50 day simple moving average is $52.15 and its 200 day simple moving average is $51.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.10 and a current ratio of 0.10. Equitable Holdings, Inc. has a 52-week low of $36.46 and a 52-week high of $56.79.

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

Equitable Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore ISI reduced their price objective 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. UBS Group reduced their price target 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. Morgan Stanley upped their price objective on shares of Equitable from $58.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on Equitable from $53.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted 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 assigned a buy rating to the stock. Based on data from MarketBeat, Equitable presently has an average rating of "Moderate Buy" and a consensus price target of $61.67.

Insider Transactions at Equitable

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the sale, the chief accounting officer now directly owns 19,827 shares of the company's stock, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nick Lane sold 5,000 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $47.57, for a total transaction of $237,850.00. Following the completion of the sale, the insider now owns 139,073 shares of the company's stock, valued at approximately $6,615,702.61. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,332 shares of company stock worth $5,993,760 in the last three months. Insiders own 1.10% of the company's stock.

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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