Equitable Holdings, Inc. $EQH Shares Purchased by Empowered Funds LLC

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 increased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 1,284.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,328 shares of the company's stock after purchasing an additional 113,495 shares during the quarter. Empowered Funds LLC's holdings in Equitable were worth $6,372,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Equitable by 23.4% during the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock worth $566,662,000 after purchasing an additional 2,061,496 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Equitable by 15.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,558,239 shares of the company's stock valued at $120,672,000 after buying an additional 337,883 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 worth $110,286,000 after acquiring an additional 2,071,691 shares in the last quarter. Boston Partners purchased a new stake in Equitable in the first quarter valued at $108,264,000. Finally, AQR Capital Management LLC boosted its stake in Equitable by 85.4% in the first quarter. AQR Capital Management LLC now owns 1,909,451 shares of the company's stock valued at $96,981,000 after acquiring an additional 879,813 shares in the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $54.09, for a total value of $367,271.10. Following the sale, the chief operating officer owned 88,678 shares of the company's stock, valued at $4,796,593.02. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $51.86, for a total transaction of $134,836.00. Following the transaction, the director owned 26,001 shares in the company, valued at approximately $1,348,411.86. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,090 shares of company stock valued at $7,549,152. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EQH shares. Wells Fargo & Company cut their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Keefe, Bruyette & Woods lifted their price target on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Morgan Stanley reduced their price objective on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. UBS Group lowered 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, JPMorgan Chase & Co. lifted their target price on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Equitable presently has a consensus rating of "Moderate Buy" and an average price target of $64.90.

Equitable Stock Performance

Shares of EQH stock traded up $0.19 during midday trading on Friday, hitting $54.10. The company had a trading volume of 2,230,063 shares, compared to its average volume of 2,663,625. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of 43.63 and a beta of 1.16. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. The company's 50 day simple moving average is $52.79 and its 200 day simple moving average is $52.05. Equitable Holdings, Inc. has a 52-week low of $39.51 and a 52-week high of $56.61.

Equitable Dividend Announcement

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

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.