New Vernon Investment Management LLC Boosts Stake in Equitable Holdings, Inc. $EQH

Key Points

• New Vernon Investment Management LLC significantly increased its stake in Equitable Holdings, Inc. by 1,267.2% during the first quarter, now holding approximately $4.68 million worth of shares.
• Equitable has announced a quarterly dividend of $0.27 per share, leading to an annualized dividend of $1.08 and a yield of 2.0%.
• Analysts have mixed ratings on Equitable, with a range of price targets, the highest being $77, and an average target price of $64.90, reflecting a consensus of "Moderate Buy."

New Vernon Investment Management LLC lifted its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 1,267.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,799 shares of the company's stock after acquiring an additional 83,231 shares during the quarter. Equitable makes up about 6.3% of New Vernon Investment Management LLC's investment portfolio, making the stock its 4th largest position. New Vernon Investment Management LLC's holdings in Equitable were worth $4,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EQH. Boston Partners acquired a new stake in shares of Equitable during the first quarter worth $108,264,000. Allspring Global Investments Holdings LLC grew its stake in shares of Equitable by 5,536.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock worth $110,286,000 after purchasing an additional 2,071,691 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 during the period. Nuveen LLC acquired a new stake in shares of Equitable during the first quarter worth $99,319,000. Finally, Alyeska Investment Group L.P. grew its stake in shares of Equitable by 237.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company's stock worth $82,955,000 after purchasing an additional 1,236,799 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the completion of the transaction, the chief executive officer directly owned 703,029 shares in the company, valued at approximately $37,295,688.45. The trade was a 5.35% decrease in their position. The sale 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 Equitable stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the sale, the chief accounting officer directly owned 19,827 shares of the company's stock, valued at approximately $1,052,615.43. The trade was a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,090 shares of company stock valued at $7,549,152. 1.10% of the stock is currently owned by company insiders.

Equitable Stock Down 1.0%

Shares of EQH stock traded down $0.51 on Tuesday, hitting $52.75. 2,732,948 shares of the stock were exchanged, compared to its average volume of 2,801,545. 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 firm has a market capitalization of $15.80 billion, a P/E ratio of 42.54 and a beta of 1.16. The business has a 50-day moving average of $53.19 and a 200 day moving average of $52.09. Equitable Holdings, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $56.61.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a yield of 2.0%. Equitable's dividend payout ratio is 87.10%.

Analyst Ratings Changes

A number of research analysts have issued reports on EQH shares. Keefe, Bruyette & Woods boosted their target price on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. UBS Group decreased their target price on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Wells Fargo & Company decreased their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Morgan Stanley decreased their target price on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.90.

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.