Edgestream Partners L.P. Grows Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Edgestream Partners L.P. raised its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 295.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,731 shares of the company's stock after buying an additional 68,513 shares during the quarter. Edgestream Partners L.P.'s holdings in Equitable were worth $4,778,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EQH. Norges Bank purchased a new position in shares of Equitable in the 4th quarter valued at approximately $668,250,000. Wellington Management Group LLP raised its position in shares of Equitable by 59.9% in the 4th 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. Allspring Global Investments Holdings LLC raised its position in shares of Equitable by 5,536.0% in 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 purchasing an additional 2,071,691 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of Equitable by 237.0% in 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 purchasing an additional 1,236,799 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Equitable in the 4th quarter valued at approximately $53,927,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO William James Iv Eckert sold 4,000 shares of the firm's 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 of the company's stock, valued at $1,052,615.43. This trade represents a 16.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total transaction of $352,698.06. Following the sale, the chief operating officer directly owned 94,980 shares in the company, valued at $5,025,391.80. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,666 shares of company stock worth $4,012,008 over the last 90 days. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

EQH has been the subject of several research analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $68.00 price objective (up from $67.00) on shares of Equitable in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Evercore ISI decreased their price objective on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. UBS Group cut their price target on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.18.

Equitable Price Performance

Shares of NYSE:EQH opened at $51.84 on Wednesday. Equitable Holdings, Inc. has a twelve month low of $36.46 and a twelve month high of $56.61. The company's 50 day moving average is $53.55 and its 200 day moving average is $51.87. 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 company has a market cap of $15.75 billion, a PE ratio of 14.09 and a beta of 1.15.

Equitable (NYSE:EQH - Get Free Report) last issued 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). The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.05 billion. Equitable had a return on equity of 79.05% and a net margin of 8.50%. Equitable's revenue for the quarter was up 105.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. On average, sell-side analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.27 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 2.08%. Equitable's dividend payout ratio (DPR) is presently 29.35%.

About Equitable

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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