Resona Asset Management Co. Ltd. Buys 5,010 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Equitable Holdings by 5.5%, owning a total of 96,774 shares valued at approximately $5,036,000.
• Equitable recently announced a quarterly dividend of $0.27 per share, yielding 2.0% and reflecting a payout ratio of 87.10%.
• Multiple analysts have rated Equitable with a consensus of "Moderate Buy" and a target price of $65.00, with Morgan Stanley recently raising their target to $68.00.

Resona Asset Management Co. Ltd. boosted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,774 shares of the company's stock after purchasing an additional 5,010 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Equitable were worth $5,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in shares of Equitable in the first quarter valued at about $26,000. Bessemer Group Inc. boosted its position in shares of Equitable by 111.2% in the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after acquiring an additional 357 shares during the period. McIlrath & Eck LLC boosted its position in shares of Equitable by 154.3% in the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock valued at $65,000 after acquiring an additional 841 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Equitable in the first quarter valued at about $80,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Equitable in the first quarter valued at about $86,000. 92.70% of the stock is owned by institutional investors.

Equitable Trading Down 1.5%

EQH opened at $53.84 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 43.42 and a beta of 1.14. Equitable Holdings, Inc. has a twelve month low of $37.99 and a twelve month high of $56.61. The company has a 50-day simple moving average of $53.22 and a 200 day simple moving average of $52.17.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a yield of 2.0%. Equitable's payout ratio is presently 87.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EQH shares. Morgan Stanley reissued an "overweight" rating and issued a $68.00 target price (up previously from $67.00) on shares of Equitable in a research report on Monday, July 14th. UBS Group reduced their target price on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Evercore ISI reduced their target price on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Equitable has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Insider Activity

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the completion of the transaction, the chief accounting officer owned 19,827 shares of the company's stock, valued at approximately $1,052,615.43. The trade was a 16.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 724,367 shares of the company's stock, valued at approximately $38,521,837.06. The trade was a 3.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,000 shares of company stock valued at $4,940,960. Insiders own 1.10% of the company's stock.

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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