Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by Summit Global Investments

Summit Global Investments decreased its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 76.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,712 shares of the company's stock after selling 106,028 shares during the period. Summit Global Investments' holdings in Equitable were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of EQH. Vest Financial LLC raised its position in Equitable by 11.7% during the 4th quarter. Vest Financial LLC now owns 752,091 shares of the company's stock worth $35,476,000 after buying an additional 78,725 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Equitable during the fourth quarter worth $29,939,000. APG Asset Management N.V. purchased a new position in shares of Equitable during the fourth quarter worth $7,512,000. Smith Group Asset Management LLC purchased a new position in shares of Equitable during the 4th quarter valued at about $305,000. Finally, Brandywine Global Investment Management LLC raised its stake in shares of Equitable by 13.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 513,391 shares of the company's stock valued at $24,217,000 after buying an additional 60,643 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.16, for a total transaction of $1,534,800.00. Following the sale, the chief executive officer now owns 753,206 shares of the company's stock, valued at $38,534,018.96. The trade was a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nick Lane sold 5,000 shares of Equitable stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.12, for a total transaction of $255,600.00. Following the sale, the insider now directly owns 139,073 shares in the company, valued at approximately $7,109,411.76. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,332 shares of company stock worth $5,976,400. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Morgan Stanley raised their price objective on shares of Equitable from $58.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Equitable from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Evercore ISI dropped their price objective on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group dropped their price target on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.67.

Equitable Price Performance

Equitable stock traded down $0.55 during trading on Friday, reaching $52.96. The company had a trading volume of 3,927,259 shares, compared to its average volume of 2,575,740. The firm's 50-day simple moving average is $50.30 and its 200 day simple moving average is $50.37. Equitable Holdings, Inc. has a 1-year low of $36.46 and a 1-year high of $56.00. The firm has a market capitalization of $16.09 billion, a PE ratio of 13.86 and a beta of 1.15. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07.

Equitable (NYSE:EQH - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.14). Equitable had a net margin of 10.51% and a return on equity of 85.70%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the business earned $1.43 EPS. The firm's revenue for the quarter was up 105.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.04%. This is a boost from Equitable's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, June 2nd. Equitable's payout ratio is presently 29.35%.

Equitable Company 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.