Summit Global Investments Purchases New Position in Equitable Holdings, Inc. (NYSE:EQH)

Summit Global Investments bought a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 31,951 shares of the company's stock, valued at approximately $1,064,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its stake in shares of Equitable by 143.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company's stock valued at $33,000 after acquiring an additional 591 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Equitable by 126.2% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company's stock valued at $42,000 after acquiring an additional 704 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Equitable during the 4th quarter valued at about $50,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Equitable during the 4th quarter valued at about $64,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Equitable during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 92.70% of the company's stock.

Equitable Price Performance

NYSE EQH traded up $0.29 on Friday, reaching $38.54. The company had a trading volume of 2,657,433 shares, compared to its average volume of 2,581,093. The firm has a market capitalization of $12.63 billion, a PE ratio of 11.93 and a beta of 1.40. Equitable Holdings, Inc. has a 1 year low of $21.89 and a 1 year high of $39.11. The firm has a 50-day moving average of $36.26 and a 200-day moving average of $33.00.

Equitable (NYSE:EQH - Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $3.59 billion. The business's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 earnings per share. As a group, sell-side analysts expect that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, February 23rd. Equitable's dividend payout ratio (DPR) is currently 27.24%.

Analyst Ratings Changes

A number of analysts recently issued reports on EQH shares. UBS Group increased their target price on shares of Equitable from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Truist Financial increased their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday. Evercore ISI increased their target price on shares of Equitable from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. Jefferies Financial Group increased their target price on shares of Equitable from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company increased their target price on shares of Equitable from $43.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.10.

Insider Activity

In other news, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the transaction, the insider now directly owns 88,660 shares in the company, valued at approximately $3,374,399.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Nick Lane sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total transaction of $680,400.00. Following the sale, the insider now directly owns 144,132 shares of the company's stock, valued at approximately $4,903,370.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Seth P. Bernstein sold 152,473 shares of the company's stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total value of $5,803,122.38. Following the sale, the insider now directly owns 88,660 shares in the company, valued at $3,374,399.60. The disclosure for this sale can be found here. In the last three months, insiders sold 334,380 shares of company stock worth $12,198,971. 1.10% of the stock is currently owned by insiders.

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.