Wealth Enhancement Advisory Services LLC Increases Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Wealth Enhancement Advisory Services LLC grew its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 267.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,601 shares of the company's stock after buying an additional 20,095 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Equitable were worth $1,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQH. Bessemer Group Inc. grew 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 purchasing an additional 357 shares during the period. Assetmark Inc. lifted its stake in shares of Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after purchasing an additional 199 shares in the last quarter. Mizuho Bank Ltd. lifted its stake in shares of Equitable by 61.4% during the fourth quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company's stock worth $53,000 after purchasing an additional 430 shares in the last quarter. McIlrath & Eck LLC lifted its stake in shares of Equitable by 154.3% during the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock worth $65,000 after purchasing an additional 841 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Equitable by 31.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company's stock worth $80,000 after purchasing an additional 409 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Price Performance

EQH traded down $1.12 during midday trading on Wednesday, reaching $53.56. 4,370,265 shares of the company's stock were exchanged, compared to its average volume of 2,555,078. The firm has a market capitalization of $16.28 billion, a price-to-earnings ratio of 14.02 and a beta of 1.15. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Equitable Holdings, Inc. has a one year low of $36.46 and a one year high of $56.00. The business has a 50-day simple moving average of $50.65 and a two-hundred day simple moving average of $50.72.

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

Equitable Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Equitable's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 2.02%. Equitable's payout ratio is 29.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EQH shares. Morgan Stanley upped their price objective on Equitable from $58.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their target price on Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. BMO Capital Markets increased their price objective on Equitable from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods lifted their target price on Equitable from $61.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on Equitable from $59.00 to $61.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $61.67.

Insider Transactions at Equitable

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $47.57, for a total transaction of $317,101.62. Following the completion of the sale, the chief operating officer now directly owns 101,646 shares in the company, valued at $4,835,300.22. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nick Lane sold 5,000 shares of the firm's 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 completion of the sale, the insider now owns 139,073 shares of the company's stock, valued at $7,109,411.76. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,332 shares of company stock worth $5,976,400 in the last ninety days. 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.