Mn Services Vermogensbeheer B.V. lowered its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,500 shares of the company's stock after selling 15,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Equitable were worth $6,433,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Equitable in the 4th quarter valued at about $29,939,000. APG Asset Management N.V. purchased a new stake in shares of Equitable in the 4th quarter valued at about $7,512,000. Brandywine Global Investment Management LLC raised its holdings in shares of Equitable by 13.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 513,391 shares of the company's stock valued at $24,217,000 after acquiring an additional 60,643 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Equitable in the 4th quarter valued at about $4,333,000. Finally, Aigen Investment Management LP increased its position in shares of Equitable by 251.2% during the 4th quarter. Aigen Investment Management LP now owns 24,615 shares of the company's stock valued at $1,161,000 after purchasing an additional 17,607 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently commented on EQH. JPMorgan Chase & Co. increased their price objective on Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Morgan Stanley increased their price objective on Equitable from $58.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods increased their price objective on Equitable from $61.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Evercore ISI reduced their price objective on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group reduced their price objective 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.67.
Check Out Our Latest Report on Equitable
Equitable Price Performance
EQH opened at $53.04 on Tuesday. The stock's 50 day simple moving average is $51.15 and its 200 day simple moving average is $50.84. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12. Equitable Holdings, Inc. has a 1 year low of $36.46 and a 1 year high of $56.00. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 13.89 and a beta of 1.15.
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). The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. Equitable had a return on equity of 85.70% and a net margin of 10.51%. Equitable's quarterly revenue was up 105.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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 year.
Equitable Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a $0.27 dividend. This is a positive change from Equitable's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Monday, June 2nd. Equitable's dividend payout ratio (DPR) is currently 29.35%.
Insider Transactions at Equitable
In other news, insider Nick Lane sold 5,000 shares of Equitable 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 sale, the insider now directly owns 139,073 shares in the company, valued at approximately $6,615,702.61. This trade represents a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on 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 in the company, valued at approximately $35,346,877.36. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,332 shares of company stock worth $4,186,000. 1.10% of the stock is currently owned by insiders.
Equitable 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.
See Also
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).
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