Jessup Wealth Management Inc Buys 9,836 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Jessup Wealth Management Inc raised its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,225 shares of the company's stock after acquiring an additional 9,836 shares during the period. Equitable comprises about 2.9% of Jessup Wealth Management Inc's investment portfolio, making the stock its 12th largest position. Jessup Wealth Management Inc's holdings in Equitable were worth $6,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after acquiring an additional 199 shares during the last quarter. QRG Capital Management Inc. raised its position in Equitable by 0.3% in the 1st quarter. QRG Capital Management Inc. now owns 88,561 shares of the company's stock worth $4,613,000 after purchasing an additional 260 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Equitable by 10.6% during the 4th quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company's stock worth $131,000 after buying an additional 266 shares in the last quarter. Colonial Trust Co SC increased its stake in shares of Equitable by 7.0% in the 4th quarter. Colonial Trust Co SC now owns 4,278 shares of the company's stock valued at $202,000 after buying an additional 278 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Equitable by 6.2% in the first quarter. Fifth Third Bancorp now owns 5,145 shares of the company's stock valued at $268,000 after acquiring an additional 299 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equitable

In other news, insider Nick Lane sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.57, for a total value of $237,850.00. Following the completion of the sale, the insider owned 139,073 shares of the company's stock, valued at approximately $6,615,702.61. This represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction 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 transaction, the chief accounting officer owned 19,827 shares in the company, 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. In the last quarter, insiders have sold 117,332 shares of company stock valued at $5,993,760. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on EQH. Morgan Stanley upped their target price on shares of Equitable from $58.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Wells Fargo & Company raised their price target on Equitable from $59.00 to $61.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI reduced 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. JPMorgan Chase & Co. upped their price target on 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 reduced 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 analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Equitable presently has a consensus rating of "Moderate Buy" and an average target price of $62.64.

Equitable Stock Performance

EQH opened at $55.67 on Monday. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 15.13 and a beta of 1.15. The business's 50-day moving average price is $53.08 and its two-hundred day moving average price is $51.60. Equitable Holdings, Inc. has a 1 year low of $36.46 and a 1 year high of $56.61. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.10 and a quick ratio of 0.10.

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). Equitable had a net margin of 8.50% and a return on equity of 79.05%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The company's revenue was up 105.2% on a year-over-year basis. Equities analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a $0.27 dividend. 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 1.94%. The ex-dividend date was Monday, June 2nd. Equitable's payout ratio is presently 29.35%.

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.

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