Westbourne Investments Inc. Makes New $1.95 Million Investment in Equitable Holdings, Inc. (NYSE:EQH)

Westbourne Investments Inc. acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 41,255 shares of the company's stock, valued at approximately $1,946,000. Equitable accounts for approximately 1.1% of Westbourne Investments Inc.'s portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Equitable by 2.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,278,436 shares of the company's stock valued at $1,003,705,000 after buying an additional 535,671 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Equitable by 0.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 19,032,270 shares of the company's stock valued at $897,752,000 after buying an additional 79,999 shares in the last quarter. Norges Bank bought a new stake in Equitable in the 4th quarter worth approximately $668,250,000. Wellington Management Group LLP raised its holdings in shares of Equitable by 59.9% during the 4th quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company's stock worth $415,899,000 after acquiring an additional 3,303,449 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Equitable by 4.6% during the 4th quarter. Invesco Ltd. now owns 8,089,046 shares of the company's stock valued at $381,560,000 after acquiring an additional 355,078 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equitable

In related news, insider Nick Lane sold 5,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were 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. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $55.38, for a total transaction of $369,163.08. Following the completion of the transaction, the chief operating officer now directly owns 104,298 shares in the company, valued at $5,776,023.24. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,332 shares of company stock valued at $4,141,315. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EQH has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of Equitable from $68.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their price target on shares of Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on Equitable from $62.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their target price on Equitable from $59.00 to $61.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Truist Financial increased their price target on Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.33.

Equitable Trading Up 0.0 %

EQH traded up $0.01 during trading on Tuesday, hitting $50.32. 713,214 shares of the stock were exchanged, compared to its average volume of 3,012,992. 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 firm has a 50 day simple moving average of $50.06 and a 200 day simple moving average of $49.59. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 13.17 and a beta of 1.15. Equitable Holdings, Inc. has a 1 year low of $36.46 and a 1 year high of $56.00.

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

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.91%. Equitable's dividend payout ratio is currently 26.09%.

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.