Convergence Investment Partners LLC Makes New $1.13 Million Investment in Equitable Holdings, Inc. (NYSE:EQH)

Convergence Investment Partners LLC purchased a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 21,633 shares of the company's stock, valued at approximately $1,127,000.

A number of other large investors have also made changes to their positions in EQH. Norges Bank purchased a new position in Equitable during the 4th quarter valued at about $668,250,000. Wellington Management Group LLP increased its holdings in Equitable by 59.9% during the 4th quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company's stock valued at $415,899,000 after acquiring an additional 3,303,449 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Equitable by 5,536.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock valued at $110,286,000 after acquiring an additional 2,071,691 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Equitable by 237.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company's stock valued at $82,955,000 after acquiring an additional 1,236,799 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Equitable during the 4th quarter worth about $53,927,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on EQH. JPMorgan Chase & Co. raised their price target on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $68.00 price target (up from $67.00) on shares of Equitable in a research note on Monday, July 14th. Keefe, Bruyette & Woods raised their target price on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. UBS Group decreased their target price 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. Finally, Evercore ISI decreased their target price on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.30.

Insider Buying and Selling at Equitable

In other news, CAO William James Iv Eckert sold 4,000 shares of Equitable stock in a transaction that occurred 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 owned 19,827 shares in the company, valued at $1,052,615.43. This trade represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $52.91, for a total transaction of $352,698.06. Following the sale, the chief operating officer owned 94,980 shares in the company, valued at $5,025,391.80. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,666 shares of company stock valued at $7,145,208. 1.10% of the stock is currently owned by corporate insiders.

Equitable Trading Up 1.0%

EQH stock traded up $0.52 during midday trading on Friday, reaching $52.58. 1,794,274 shares of the company's stock traded hands, compared to its average volume of 2,281,680. The company has a market capitalization of $15.86 billion, a P/E ratio of 14.29 and a beta of 1.15. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.10 and a quick ratio of 0.10. Equitable Holdings, Inc. has a fifty-two week low of $36.46 and a fifty-two week high of $56.61. The business has a 50-day moving average price of $53.50 and a two-hundred day moving average price of $52.11.

Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). The business had revenue of $4.58 billion for 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%. The company's quarterly revenue was up 105.2% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. Equities research analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.05%. Equitable's dividend payout ratio (DPR) is 29.35%.

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.