Raymond James & Associates boosted its position in Equitable Holdings, Inc. (NYSE:EQH – Get Rating) by 2.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 266,751 shares of the company’s stock after purchasing an additional 5,774 shares during the period. Raymond James & Associates’ holdings in Equitable were worth $7,029,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Equitable by 20.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 34,650,300 shares of the company’s stock valued at $903,333,000 after acquiring an additional 5,799,164 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Equitable by 94.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,723,505 shares of the company’s stock valued at $115,094,000 after buying an additional 1,811,795 shares during the period. Assenagon Asset Management S.A. increased its holdings in Equitable by 93.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,768,972 shares of the company’s stock worth $72,187,000 after buying an additional 1,337,999 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Equitable by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,794,991 shares of the company’s stock worth $229,287,000 after acquiring an additional 1,328,225 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Equitable by 1,898.0% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,155,415 shares of the company’s stock valued at $30,445,000 after acquiring an additional 1,097,586 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Jefferies Financial Group cut shares of Equitable from a “buy” rating to a “hold” rating and lowered their price target for the stock from $36.00 to $34.00 in a report on Friday, December 9th. Truist Financial cut their price target on Equitable from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Morgan Stanley boosted their price objective on Equitable from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup lifted their target price on shares of Equitable from $37.00 to $38.00 in a research note on Wednesday, November 16th. Finally, Royal Bank of Canada downgraded shares of Equitable from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $34.00 to $33.00 in a report on Tuesday, December 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.78.
Equitable Stock Performance
Equitable (NYSE:EQH – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.21 billion. On average, sell-side analysts forecast that Equitable Holdings, Inc. will post 5.29 EPS for the current fiscal year.
Equitable Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 5th. Shareholders of record on Monday, November 28th were paid a $0.20 dividend. The ex-dividend date was Friday, November 25th. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. Equitable’s dividend payout ratio is presently 11.19%.
Insider Transactions at Equitable
In other news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $30.05, for a total transaction of $901,500.00. Following the completion of the sale, the chief executive officer now directly owns 435,307 shares of the company’s stock, valued at approximately $13,080,975.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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