Mirae Asset Global Investments Co. Ltd. Purchases 13,436 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Mirae Asset Global Investments Co. Ltd. raised its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,129 shares of the company's stock after purchasing an additional 13,436 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Equitable were worth $4,811,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Diversified Trust Co grew its stake in Equitable by 51.5% in the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock valued at $2,202,000 after buying an additional 14,380 shares during the last quarter. PDS Planning Inc bought a new stake in Equitable in the 1st quarter valued at $230,000. Lecap Asset Management Ltd. increased its position in Equitable by 534.2% during the 1st quarter. Lecap Asset Management Ltd. now owns 57,900 shares of the company's stock worth $3,016,000 after buying an additional 48,771 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Equitable by 15.1% during the first quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock worth $8,047,000 after buying an additional 20,317 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Equitable in the first quarter valued at about $252,000. 92.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley raised 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. Evercore ISI decreased their target price on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price target on shares of Equitable from $59.00 to $61.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted 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, Keefe, Bruyette & Woods lifted their price objective on Equitable from $61.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Equitable currently has an average rating of "Moderate Buy" and a consensus price target of $62.64.

Equitable Price Performance

Shares of EQH stock traded down $0.18 during trading hours on Friday, reaching $55.67. The company's stock had a trading volume of 1,391,150 shares, compared to its average volume of 2,557,910. Equitable Holdings, Inc. has a fifty-two week low of $36.46 and a fifty-two week high of $56.61. The firm's 50 day simple moving average is $52.96 and its 200-day simple moving average is $51.45. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 15.13 and a beta of 1.15.

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). The company 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 company's revenue for the quarter was up 105.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 earnings per share. Sell-side analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Increases Dividend

The business also recently announced 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Equitable's previous quarterly dividend of $0.24. Equitable's payout ratio is presently 29.35%.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the transaction, the chief executive officer owned 724,367 shares of the company's stock, valued at $38,521,837.06. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO William James Iv Eckert sold 4,000 shares of Equitable 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. This trade represents a 16.79% 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 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

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.