Oppenheimer Asset Management Inc. Trims Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Oppenheimer Asset Management Inc. lessened its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 27.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,279 shares of the company's stock after selling 55,781 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Equitable were worth $7,724,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Equitable in the 4th quarter valued at $668,250,000. Wellington Management Group LLP increased its stake in 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 buying an additional 3,303,449 shares during the period. Los Angeles Capital Management LLC increased its stake in Equitable by 608.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,468,912 shares of the company's stock valued at $69,289,000 after buying an additional 1,261,466 shares during the period. Alyeska Investment Group L.P. increased its stake in 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 buying an additional 1,236,799 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Equitable in the 4th quarter valued at $53,927,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Equitable from $58.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their price objective on shares of Equitable from $59.00 to $61.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $61.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Finally, UBS Group dropped their price objective on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.67.

Equitable Price Performance

Shares of NYSE:EQH traded down $0.06 on Friday, reaching $55.97. 5,196,677 shares of the company were exchanged, compared to its average volume of 2,564,342. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.39. Equitable Holdings, Inc. has a 1-year low of $36.46 and a 1-year high of $56.39. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 15.21 and a beta of 1.15. The company has a 50-day moving average of $52.33 and a 200-day moving average of $51.24.

Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). Equitable had a return on equity of 79.05% and a net margin of 8.50%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company earned $1.43 earnings per share. The business's revenue for the quarter was up 105.2% compared to the same quarter last year. Equities analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Equitable's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 1.93%. Equitable's payout ratio is currently 29.35%.

Insider Buying and Selling

In other Equitable news, insider Nick Lane sold 5,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $47.57, for a total value of $237,850.00. Following the transaction, the insider now directly owns 139,073 shares in the company, valued at approximately $6,615,702.61. This represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the completion of the transaction, the chief executive officer now owns 743,206 shares in the company, valued at approximately $35,346,877.36. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,332 shares of company stock worth $5,993,760 in the last three months. Corporate insiders own 1.10% of the company's stock.

Equitable Company 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.