FJ Capital Management LLC Takes Position in Equitable Holdings, Inc. $EQH

Key Points

• FJ Capital Management LLC invested approximately $711,000 in Equitable Holdings, acquiring 13,648 shares in the first quarter of 2023.
• Several hedge funds significantly increased their stakes in Equitable, with Atlas Capital Advisors raising its holdings by 310.2% and others also acquiring new positions.
• Equitable Holdings recently paid a quarterly dividend of $0.27 per share, contributing to an annualized yield of 2.0%.

FJ Capital Management LLC acquired a new position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,648 shares of the company's stock, valued at approximately $711,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. increased its stake in Equitable by 310.2% in the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company's stock valued at $904,000 after buying an additional 13,120 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Equitable in the 1st quarter valued at about $252,000. Diversified Trust Co grew its position in shares of Equitable by 51.5% during the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock valued at $2,202,000 after acquiring an additional 14,380 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of Equitable during the 1st quarter valued at approximately $255,000. Finally, Asset Management One Co. Ltd. grew its position in shares of Equitable by 15.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock valued at $8,047,000 after acquiring an additional 20,317 shares during the period. Hedge funds and other institutional investors own 92.70% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the sale, the chief executive officer owned 703,029 shares of the company's stock, valued at $37,295,688.45. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO William James Iv Eckert sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the completion of the transaction, the chief accounting officer owned 19,827 shares in the company, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,090 shares of company stock worth $7,549,152 over the last ninety days. 1.10% of the stock is owned by insiders.

Equitable Price Performance

Shares of NYSE EQH traded down $0.67 during mid-day trading on Friday, reaching $53.40. 3,704,028 shares of the company were exchanged, compared to its average volume of 2,888,788. Equitable Holdings, Inc. has a 52 week low of $37.99 and a 52 week high of $56.61. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. The stock has a market capitalization of $16.00 billion, a PE ratio of 43.07 and a beta of 1.16. The company's 50 day moving average price is $53.04 and its 200 day moving average price is $52.08.

Equitable Dividend Announcement

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

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.