T. Rowe Price Investment Management Inc. Increases Position in Equitable Holdings, Inc. $EQH

Key Points

• T. Rowe Price Investment Management Inc. has increased its holdings in Equitable Holdings, Inc. by 68.1%, acquiring an additional 356,732 shares in the first quarter.
• The recent quarterly dividend announced by Equitable was $0.27 per share, representing a 2.0% yield and a payout ratio of 87.10%.
• Equitable's stock has been rated as a "Moderate Buy" by analysts, with an average target price of $64.90, while several firms adjusted their price objectives recently.

T. Rowe Price Investment Management Inc. lifted its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 68.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 880,932 shares of the company's stock after acquiring an additional 356,732 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.29% of Equitable worth $45,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of EQH. MV Capital Management Inc. purchased a new stake in shares of Equitable during the first quarter worth about $26,000. McIlrath & Eck LLC increased its holdings in 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 buying an additional 841 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Equitable in the first quarter valued at about $80,000. Zions Bancorporation National Association UT bought a new stake in Equitable in the first quarter valued at about $86,000. Finally, Picton Mahoney Asset Management bought a new stake in Equitable in the first quarter valued at about $104,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Stock Performance

EQH opened at $53.6110 on Friday. Equitable Holdings, Inc. has a 1-year low of $37.99 and a 1-year high of $56.61. The business has a 50 day moving average price of $53.13 and a two-hundred day moving average price of $52.12. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 43.24 and a beta of 1.14. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14.

Equitable Announces Dividend

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

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the sale, the chief operating officer directly owned 88,678 shares of the company's stock, valued at approximately $4,796,593.02. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $51.86, for a total transaction of $134,836.00. Following the sale, the director directly owned 26,001 shares of the company's stock, valued at $1,348,411.86. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,090 shares of company stock worth $7,549,152. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

EQH has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted 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. Morgan Stanley reduced their price objective on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Wells Fargo & Company cut their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. UBS Group cut their target price on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.90.

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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