Empowered Funds LLC Boosts Holdings in Equitable Holdings, Inc. $EQH

Key Points

• Empowered Funds LLC significantly increased its stake in Equitable Holdings by 1,284.9%, acquiring an additional 113,495 shares, bringing its total holdings to 122,328 shares valued at approximately $6.37 million.
• Equitable recently announced a quarterly dividend of $0.27 per share, equating to an annualized dividend yield of 2.0%, while its dividend payout ratio currently stands at 87.10%.
• Several analysts have raised or adjusted their target prices for Equitable, with estimates varying from $55.00 to $75.00, indicating a generally positive sentiment with a consensus rating of "Moderate Buy."

Empowered Funds LLC grew its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 1,284.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,328 shares of the company's stock after buying an additional 113,495 shares during the period. Empowered Funds LLC's holdings in Equitable were worth $6,372,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQH. Bank of America Corp DE boosted its holdings in shares of Equitable by 69.9% in the 4th quarter. Bank of America Corp DE now owns 634,049 shares of the company's stock valued at $29,908,000 after buying an additional 260,826 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Equitable during the 4th quarter worth $227,000. LMR Partners LLP acquired a new stake in Equitable during the 4th quarter worth $649,000. Lazard Asset Management LLC boosted its stake in Equitable by 8,786.4% during the 4th quarter. Lazard Asset Management LLC now owns 276,723 shares of the company's stock worth $13,052,000 after purchasing an additional 273,609 shares during the period. Finally, Millennium Management LLC boosted its stake in Equitable by 75.0% during the 4th quarter. Millennium Management LLC now owns 1,871,866 shares of the company's stock worth $88,296,000 after purchasing an additional 802,071 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.

Equitable Price Performance

Shares of EQH traded down $0.61 during trading hours on Tuesday, reaching $52.70. The company had a trading volume of 737,394 shares, compared to its average volume of 2,785,287. The firm has a 50 day simple moving average of $52.76 and a 200-day simple moving average of $52.03. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 42.47 and a beta of 1.16. Equitable Holdings, Inc. has a 12-month low of $40.81 and a 12-month high of $56.61.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is currently 87.10%.

Insider Activity at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the transaction, the chief operating officer directly owned 88,678 shares in the company, valued at approximately $4,796,593.02. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William James Iv Eckert sold 4,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,090 shares of company stock worth $5,953,752. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

EQH has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. 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 research note on Wednesday, July 9th. Wells Fargo & Company cut their price objective on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wolfe Research assumed coverage on shares of Equitable in a research report on Monday. They set an "outperform" rating and a $61.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Equitable presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.55.

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.