Bank of America Corp DE Has $32.99 Million Stake in Equitable Holdings, Inc. $EQH

Bank of America Corp DE lifted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 15.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 889,016 shares of the company's stock after acquiring an additional 121,261 shares during the period. Bank of America Corp DE owned 0.32% of Equitable worth $32,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EQH. Johnson Financial Group Inc. acquired a new stake in shares of Equitable in the 3rd quarter valued at about $26,000. Root Financial Partners LLC raised its stake in Equitable by 64.1% during the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company's stock worth $33,000 after buying an additional 347 shares during the period. Covestor Ltd raised its stake in Equitable by 124.7% during the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock worth $35,000 after buying an additional 404 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Equitable in the third quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. grew its stake in Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock valued at $46,000 after acquiring an additional 424 shares during the period. 92.70% of the stock is owned by institutional investors.

Equitable Stock Up 0.4%

EQH stock opened at $53.02 on Friday. The firm has a market capitalization of $14.48 billion, a PE ratio of -16.02, a P/E/G ratio of 0.52 and a beta of 1.09. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15. The stock's 50 day moving average is $47.14 and its 200-day moving average is $43.29.

Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. Equitable's revenue was down 29.8% compared to the same quarter last year. Sell-side analysts expect that Equitable Holdings, Inc. will post 7.13 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable's dividend payout ratio is presently -36.25%.

Insider Transactions at Equitable

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $48.54, for a total value of $1,927,038.00. Following the completion of the sale, the chief executive officer owned 753,403 shares in the company, valued at approximately $36,570,181.62. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William James Iv Eckert sold 947 shares of Equitable stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.88, for a total transaction of $50,077.36. Following the transaction, the chief accounting officer directly owned 8,419 shares in the company, valued at approximately $445,196.72. This represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 114,541 shares of company stock worth $5,357,784. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EQH shares. JPMorgan Chase & Co. decreased their price objective on Equitable from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Barclays increased their target price on Equitable from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their price target on shares of Equitable from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Jefferies Financial Group upped their price objective on shares of Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Mizuho set a $68.00 price objective on shares of Equitable in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Equitable has a consensus rating of "Moderate Buy" and an average target price of $61.17.

Equitable Company Profile

Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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