Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 27.3% in the first quarter, according to its most recent 13F filing with the Securities & 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Securities Inc. grew its holdings in shares of Equitable by 82.7% during the 4th quarter. Principal Securities Inc. now owns 1,805 shares of the company's stock worth $85,000 after purchasing an additional 817 shares during the period. Truist Financial Corp boosted its stake in shares of Equitable by 2.8% in the 4th quarter. Truist Financial Corp now owns 9,554 shares of the company's stock valued at $451,000 after buying an additional 257 shares during the period. Ieq Capital LLC purchased a new position in shares of Equitable in the 4th quarter valued at about $1,420,000. Los Angeles Capital Management LLC boosted its stake in shares of 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. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Equitable by 6.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 138,500 shares of the company's stock worth $6,533,000 after acquiring an additional 8,300 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EQH. Morgan Stanley raised their target price on Equitable from $58.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Evercore ISI dropped their target price on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets lifted their price target on Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods lifted their price target on Equitable from $61.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group decreased their target price on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.67.

Insiders Place Their Bets

In other news, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $47.56, for a total value of $1,426,800.00. Following the completion of the sale, the chief executive officer now owns 743,206 shares of the company's stock, valued at $35,346,877.36. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $47.57, for a total value of $317,101.62. Following the completion of the transaction, the chief operating officer now directly owns 101,646 shares of the company's stock, valued at $4,835,300.22. This represents a 6.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,332 shares of company stock worth $5,993,760 over the last three months. 1.10% of the stock is owned by insiders.

Equitable Stock Performance

NYSE EQH opened at $54.07 on Wednesday. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 14.69 and a beta of 1.15. The business has a fifty day moving average of $51.81 and a 200-day moving average of $51.05. Equitable Holdings, Inc. has a fifty-two week low of $36.46 and a fifty-two week high of $56.00. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39.

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

Equitable Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.27 per share. 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 yield of 2.00%. Equitable's dividend payout ratio is currently 29.35%.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.