M&T Bank Corp Increases Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

M&T Bank Corp increased its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,581 shares of the company's stock after purchasing an additional 5,258 shares during the period. M&T Bank Corp's holdings in Equitable were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Equitable during the 1st quarter worth $26,000. Bessemer Group Inc. raised its stake in Equitable by 111.2% during the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company's stock worth $32,000 after buying an additional 357 shares during the period. Assetmark Inc. raised its stake in Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after buying an additional 199 shares during the period. Mizuho Bank Ltd. raised its stake in 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 period. Finally, McIlrath & Eck LLC raised its stake in Equitable by 154.3% during the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock worth $65,000 after buying an additional 841 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mark Pearson sold 30,000 shares of the business'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 sale, the chief executive officer directly owned 724,367 shares of the company's stock, valued at $38,521,837.06. The trade was a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nick Lane sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total transaction of $264,550.00. Following the completion of the transaction, the insider owned 139,073 shares of the company's stock, valued at approximately $7,358,352.43. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,666 shares of company stock valued at $4,012,008. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

EQH has been the subject of several analyst reports. Evercore ISI lowered their price objective on Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Morgan Stanley increased their price objective on Equitable from $67.00 to $68.00 and gave the stock an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. UBS Group cut their price target on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $66.00 price target (up from $61.00) on shares of Equitable in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Equitable currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.18.

Equitable Stock Down 2.9%

Equitable stock traded down $1.57 during trading hours on Tuesday, hitting $51.84. 2,744,953 shares of the stock traded hands, compared to its average volume of 2,544,199. The firm's 50-day moving average price is $53.45 and its two-hundred day moving average price is $51.83. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.39. The company has a market cap of $15.75 billion, a PE ratio of 14.09 and a beta of 1.15. Equitable Holdings, Inc. has a one year low of $36.46 and a one year high of $56.61.

Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). Equitable had a return on equity of 79.05% and a net margin of 8.50%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The business's revenue for the quarter was up 105.2% compared to the same quarter last year. On average, research analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Increases Dividend

The business also recently declared 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 boost from Equitable's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, June 2nd. Equitable's payout ratio is currently 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.