Allspring Global Investments Holdings LLC lessened its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 97.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,750 shares of the company's stock after selling 1,160,877 shares during the period. Allspring Global Investments Holdings LLC's holdings in Equitable were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in EQH. Johnson Financial Group Inc. bought a new position in Equitable in the 3rd quarter worth approximately $26,000. Covestor Ltd increased its position in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock valued at $35,000 after acquiring an additional 404 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Equitable during the 3rd quarter valued at $38,000. Geneos Wealth Management Inc. raised its stake in Equitable by 92.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock valued at $46,000 after acquiring an additional 424 shares in the last quarter. Finally, Root Financial Partners LLC boosted its position in Equitable by 64.1% during the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company's stock worth $33,000 after acquiring an additional 347 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently commented on EQH. UBS Group raised their price target on Equitable from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Jefferies Financial Group lifted their price objective on shares of Equitable from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Raymond James Financial set a $58.00 price objective on shares of Equitable and gave the stock a "strong-buy" rating in a report on Thursday, April 16th. Evercore set a $63.00 target price on shares of Equitable and gave the company an "outperform" rating in a research report on Thursday, April 9th. Finally, Mizuho raised their target price on shares of Equitable from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.08.
View Our Latest Research Report on Equitable
Equitable Price Performance
Shares of Equitable stock opened at $47.99 on Monday. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $55.24. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 8.75. The stock has a market cap of $13.10 billion, a PE ratio of -16.90, a price-to-earnings-growth ratio of 0.47 and a beta of 1.10. The company's 50-day moving average price is $44.49 and its two-hundred day moving average price is $42.92.
Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.95 billion. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The business's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. As a group, sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.11 EPS for the current fiscal year.
Equitable Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.5%. Equitable's dividend payout ratio is currently -42.25%.
Insider Buying and Selling at Equitable
In other Equitable news, insider Nick Lane sold 4,417 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.45, for a total value of $187,501.65. Following the transaction, the insider owned 124,218 shares of the company's stock, valued at approximately $5,273,054.10. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $45.28, for a total value of $1,797,616.00. Following the sale, the chief executive officer owned 765,903 shares of the company's stock, valued at $34,680,087.84. This trade represents a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 88,803 shares of company stock valued at $3,913,078. Corporate insiders own 1.10% of the company's stock.
Equitable Profile
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Free Report)
Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.
The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.
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Want to see what other hedge funds are holding EQH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitable Holdings, Inc. (NYSE:EQH - Free Report).
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