Jessup Wealth Management Inc increased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,225 shares of the company's stock after purchasing an additional 9,836 shares during the quarter. Equitable makes up 2.9% of Jessup Wealth Management Inc's holdings, 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).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. MV Capital Management Inc. purchased a new stake in Equitable during the 1st quarter valued at about $26,000. Bessemer Group Inc. lifted its stake in Equitable by 111.2% in the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock worth $32,000 after acquiring an additional 357 shares during the last quarter. Assetmark Inc. lifted its position in shares of Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after purchasing an additional 199 shares during the last quarter. Mizuho Bank Ltd. lifted its position in shares of Equitable by 61.4% during the 4th quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company's stock worth $53,000 after buying an additional 430 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its holdings in shares of Equitable by 154.3% in the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock valued at $65,000 after purchasing an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.
Insider Transactions at Equitable
In related news, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $53.09, for a total value of $212,360.00. Following the sale, the chief accounting officer directly owned 19,827 shares in the company, valued at $1,052,615.43. The trade was a 16.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $352,698.06. Following the sale, the chief operating officer directly owned 94,980 shares in the company, valued at $5,025,391.80. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,332 shares of company stock worth $5,993,760 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
Equitable Stock Performance
NYSE:EQH traded up $0.57 during mid-day trading on Tuesday, hitting $55.26. The stock had a trading volume of 1,183,797 shares, compared to its average volume of 2,552,685. The company has a 50 day simple moving average of $53.17 and a 200-day simple moving average of $51.66. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 15.04 and a beta of 1.15. 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 52 week low of $36.46 and a 52 week high of $56.61.
Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.50% and a return on equity of 79.05%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Equitable's revenue for the quarter was up 105.2% compared to the same quarter last year. On average, research analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.
Equitable Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were issued a dividend of $0.27 per share. This is a boost from Equitable's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 1.95%. Equitable's payout ratio is presently 29.35%.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Equitable from $59.00 to $61.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods raised their target price on shares of Equitable from $61.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. UBS Group lowered their target price on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price target on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Morgan Stanley upped their price target on shares of Equitable from $58.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $63.55.
Read Our Latest Stock Analysis on Equitable
Equitable Company Profile
(
Free Report)
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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