Man Group plc increased its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 616.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245,568 shares of the company's stock after acquiring an additional 1,071,763 shares during the period. Man Group plc owned about 0.40% of Equitable worth $58,753,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Miracle Mile Advisors LLC purchased a new stake in Equitable in the 4th quarter worth about $295,000. Vest Financial LLC lifted its stake in Equitable by 11.7% in the 4th quarter. Vest Financial LLC now owns 752,091 shares of the company's stock worth $35,476,000 after acquiring an additional 78,725 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Equitable in the 4th quarter worth about $29,939,000. APG Asset Management N.V. purchased a new stake in Equitable in the 4th quarter worth about $7,512,000. Finally, Smith Group Asset Management LLC purchased a new stake in Equitable in the 4th quarter worth about $305,000. 92.70% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Equitable
In related news, COO Jeffrey J. Hurd sold 6,666 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.91, for a total transaction of $352,698.06. Following the completion of the transaction, the chief operating officer now directly owns 94,980 shares in the company, valued at $5,025,391.80. This represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.90, for a total transaction of $1,587,000.00. Following the transaction, the chief executive officer now owns 733,206 shares of the company's stock, valued at approximately $38,786,597.40. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,998 shares of company stock valued at $6,345,563 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on EQH shares. Evercore ISI dropped their target price on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets upped their target price on Equitable from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. upped their target price on Equitable from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their target price on Equitable from $59.00 to $61.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $61.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.08.
Get Our Latest Stock Analysis on EQH
Equitable Stock Up 1.3%
Shares of NYSE EQH traded up $0.71 during mid-day trading on Friday, reaching $53.56. 1,870,312 shares of the company traded hands, compared to its average volume of 2,607,186. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. The stock has a market cap of $16.28 billion, a PE ratio of 14.02 and a beta of 1.15. The company's fifty day moving average is $50.17 and its two-hundred day moving average is $49.98. Equitable Holdings, Inc. has a fifty-two week low of $36.46 and a fifty-two week high of $56.00.
Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.14). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $1.43 EPS. On average, analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.
About Equitable
(
Free Report)
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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